New mortgage approvals fall in May as commercial property lending declines

New approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both declined month-on-month in May, according to data from the Monetary Authority of Macao. Banks approved MOP1.11 billion in new residential mortgage loans, down 3.1% from April, while new commercial real estate loans dropped 66% to MOP552 million after a high base in the previous month. At the end of May, outstanding residential mortgage loans fell 0.2% month-on-month to MOP202.9 billion, while outstanding commercial real estate loans rose 0.4% to MOP133.61 billion. Delinquency ratios remained stable for both loan categories.

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