NEW approvals of residential mortgage loans in Macau rose in May, while those of commercial real estate loans decreased. According to statistics released by the Monetary Authority of Macao, new approvals of residential mortgage loans by local banks increased by 23 percent month-to-month to MOP4.9 billion (USD608 million) in May.
The monthly average of new approvals of residential mortgage loans between March and May was MOP5 billion, up by 18 percent from the previous period (February to April).
Meanwhile, new approvals of commercial real estate loans fell by 64.9 percent from a higher comparison base of the previous month to MOP2.9 billion. The monthly average of new approvals of commercial real estate loans between March and May was MOP5.7 billion, down by 18.4 percent when compared with that of the previous period (February to April).
At the end of May, the delinquency ratio for new approvals of residential mortgage loans was 0.2 percent, down by 0.01 percentage point from the preceding month, yet up 0.01 percentage point when compared with over a year earlier.
The ratio for new approvals of commercial real estate loans was 0.14 percent, virtually unchanged from a month ago and from a year ago.
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