New approvals of commercial loans surge

New approvals of commercial real estate loans (CRELs) increased by 38.1% month-over-month in November 2024, while new residential mortgage loans (RMLs) decreased by 5.3% during the same period. According to the Monetary Authority of Macau, the monthly average of new CRELs approved between September and November 2024 was MOP 854.40 million, down 2.6% compared to the previous period. In contrast, the monthly average of new RMLs approved during the same period was MOP 1.86 billion, down 0.5% compared to the prior period.