The value of new approvals for both residential mortgage loans (RMLs) and commercial real estate loans (CRELs) significantly decreased month-on-month in April, statistics from the Monetary Authority of Macao show.
Compared to March 2023, the value of new RMLs approved in April declined 18.7% to MOP1.55 billion.
Despite the significant April drop, the monthly average of new RMLs approved between February and April increased 2.4% from the previous period (January to March 2023).
New CRELs fell 6% month-on-month to MOP2.37 billion in April.
Notwithstanding the April results, the monthly average of new CRELs approved between February and April 2023 reached MOP2.15 billion, a rise of 27.5% compared with the previous period (January to March 2023).
In both cases, residents received the larger share of new loans, recording 98.5% of the total for RMLs and 94.8% for CRELs.
Both RMLs and CRELs refer to bank loans to individuals and enterprises collateralized by residential real estate in Macau.
Not only do they include loans for residential properties but also for other purposes such as refinancing, working capital and trade financing.
CRELs include loans to construction companies to finance property development and investment. RM
