Residential mortgage approvals rise as commercial loans fall

New approvals of residential mortgage loans (RMLs) rose 6.3% month-on-month to MOP1.25 billion in November 2025, while approvals of commercial real estate loans (CRELs) fell 52.0% to MOP406.2 million, according to the Monetary Authority of Macao. Resident mortgages accounted for nearly all new RMLs. Outstanding balances of both RMLs and CRELs declined on a monthly basis, with total RMLs down 0.2% and CRELs down 0.4% from October.