Macao Monetary Authority: The newly approved residential mortgage loans in September increased by 142.1% month-on-month to 3.05 billion Macao dollars.

On November 11, the Monetary Authority of Macao SAR released statistics showing that new residential mortgage loans and commercial property loans approved in September 2024 both increased monthly. In terms of outstanding loan amount, residential mortgage loans decreased monthly while commercial property loans recorded an increase. The amount of new residential mortgage loans approved by banks in Macao SAR in September 2024 increased by 142.1% to 3.05 billion Macao Patacas (MOP). Of this, the portion for residents, accounting for 98.4% of new approvals, increased by 142.1% to 3.0 billion MOP, while the non-resident portion increased by 145.1% to 490 million MOP. The average monthly amount of new residential mortgage loans approved from July to September 2024 was 1.86 billion MOP, an increase of 49.6% compared to the previous period (June to August 2024). New approvals for commercial property loans increased by 8.4% to 1.03 billion MOP per month. Of this, the portion for residents, accounting for 91.4% of new approvals, increased by 0.5% to 950 million MOP, while the non-resident portion increased to 890 million MOP. The average monthly amount of new commercial property loans approved from July to September 2024 was 1.3 billion MOP, a decrease of 22.9% compared to the previous period (June to August 2024). Outstanding mortgage loan balances As of the end of September 2024, the outstanding balance of residential mortgage loans was 220.17 billion MOP, a monthly decrease of 1.3% and a 5.0% decrease compared to a year ago; with residents accounting for 96.6%. The outstanding balance of residential mortgage loans for residents and non-residents decreased by 0.4% and 21.9% respectively. The outstanding balance of commercial property loans increased by 0.1% to 153.07 billion MOP per month, a 4.7% decrease compared to a year ago; with residents accounting for 92.0%. The outstanding balance of commercial property loans for residents decreased by 1.4% while for non-residents it increased by 21.2%. Loan delinquency rates The delinquency rate for residential mortgage loans at the end of September 2024 decreased by 0.9 percentage points to 3.4% per month, but increased by 2.6 percentage points compared to a year ago. The delinquency rate for commercial property loans was 5.2%, an increase of 1.4 and 3.2 percentage points monthly and annually. Residential mortgage loans are credit arrangements granted to individuals and companies using residential properties in Macao as collateral, for purposes such as purchasing residential properties or other uses (e.g. refinancing, operating capital, and trade financing). Commercial property loans are credit arrangements granted to individuals and companies using commercial properties in Macao as collateral, including loans to construction companies, for property development and investment purposes.