Macao Monetary Authority: Newly approved residential mortgage loans in October fell by 57.4% month-on-month.

The statistics released by the Monetary Authority of Macau on the 12th showed a month-on-month decrease in newly approved residential mortgage loans and commercial property loans in October 2024. The amount of new residential mortgage loans approved by Macau banks in October 2024 fell by 57.4% to 1.30 billion Macau Patacas; while new commercial property loans decreased by 37.9% to 640 million Macau Patacas. Both residential mortgage loans and commercial property loans saw a decline in outstanding loan amounts. Newly approved loans For new residential mortgage loans, 95.9% were taken by residents, decreasing by 58.5% to 1.24 billion Macau Patacas, while non-residents increased by 8.7% to 53 million Macau Patacas. The average monthly amount of new residential mortgage loans approved from August to October 2024 was 1.87 billion Macau Patacas, an increase of 0.6% compared to the previous period (July to September 2024). Out of the newly approved commercial property loans, 98.0% were taken by residents, declining by 33.4% to 630 million Macau Patacas, while non-residents decreased by 85.5% to 130 million Macau Patacas. The average monthly amount of new commercial property loans approved from August to October 2024 was 880 million Macau Patacas, a decrease of 32.7% compared to the previous period. Outstanding mortgage loan amounts As of the end of October 2024, the total outstanding residential mortgage loans amounted to 219.52 billion Macau Patacas, a decrease of 0.3% from the previous month, and a 5.0% decrease compared to a year ago. Residents accounted for 96.6% of the total outstanding residential mortgage loans, with a month-on-month decrease of 0.2% for residents and 2.2% for non-residents. Due to the repayment of some large loans during the period, the total outstanding commercial property loans decreased by 0.6% to 152.14 billion Macau Patacas, a 5.1% decrease from a year ago. Residents accounted for 92.0% of the total outstanding commercial property loans, with a month-on-month decrease of 0.7% for residents and 0.2% for non-residents. Loan delinquency rates The delinquency rate for residential mortgage loans at the end of October 2024 remained at around 3.4% month-on-month, a 2.6 percentage point increase from a year ago. The delinquency rate for commercial property loans was 5.1%, a 0.2 percentage point decrease from the previous month and a 2.7 percentage point increase from a year ago. Residential mortgage loans are credit arrangements made to individuals and companies using residential properties in Macau as collateral, including for purchasing residential properties and other purposes such as refinancing, working capital, and trade financing. Commercial property loans are credit arrangements made to individuals and companies using commercial properties in Macau as collateral, including loans to construction companies and for property development and investment.