The value of new Commercial real estate loans (CRELs) decreased by 19.7% from the previous month to MOP3.09 billion in September, according to statistics from the Monetary Authority of Macao (AMCM).
New CRELs issued to residents, which represented 95% of the total loans in this category, fell 22.3% to MOP2.94 billion, while the total of new CRELs made to non-residents rose to MOP154.5 million. The monthly average value of new CRELs approved between July and September decreased by 21.1% to MOP6 billion.
Meanwhile, new approvals of residential mortgage loans (RMLs) by banks in Macau dropped by 1% from the previous month to MOP3.43 billion in September. New RMLs to residents, representing 98.3% of total loans in this category, dropped 1.8% to MOP3.37 billion. The monthly average value of new RMLs approved between July and September this year declined 3.7% from the previous quarter to MOP3.7 billion.
Resident RMLs constituted 94.9% of loans. Compared to the previous month, outstanding RMLs to residents grew by 0.5%, while those to non-residents dropped by 0.3%. Staff reporter
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