According to statistics released today (11 April) by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) fell whereas those of commercial real estate loans (CRELs) increased month-on-month in February 2025. With regard to the outstanding balances, both RMLs and CRELs witnessed declines on a monthly basis.
New lending approved
In February 2025, new RMLs approved by Macao banks fell by 45.4% month-on-month to MOP724.09 million. Among them, new RMLs to residents, representing 98.3% of the total, decreased by 44.9% to MOP711.54 million; the non-resident component dropped by 65.3% to MOP12.55 million. The monthly average of new RMLs approved between December 2024 and February 2025 was MOP1.02 billion, down 14.2% from the previous period (November 2024 to January 2025).
New CRELs increased by 4.4% month-on-month to MOP1.53 billion. Among them, new CRELs to residents, which occupied 82.5% of the total, rose by 7.1% to MOP1.26 billion; new CRELs to non-residents dropped 6.5% to MOP267.24 million. The monthly average of new CRELs approved between December 2024 and February 2025 was MOP1.22 billion, up 21.1% when compared with the previous period (November 2024 to January 2025).
Outstanding balances
As at end-February 2025, the outstanding value of RMLs fell by 0.4% month-on-month or 4.8% year-on-year to MOP216.86 billion, attributable to the repayment of loans with large denomination. Among them, the resident component made up 96.6% of the total. When compared with the previous month, outstanding RMLs to residents dropped by 0.4% whereas those to non-residents increased by 1.0%.
The outstanding value of CRELs was MOP149.88 billion, which decreased by 0.2% from the preceding month or 5.3% from a year ago. Among them, the resident component made up 91.9% of the total. When compared with the previous month, outstanding CRELs to residents fell by 0.2% whereas those to non-residents rose by 0.2%.
Delinquency ratios
At end-February 2025, the delinquency ratio for RMLs stood at 3.6%, which kept stable from a month ago but up 2.6 percentage points over a year earlier. The ratio for CRELs was 5.4%, which remained unchanged from the previous month but up 2.1 percentage points from end-February 2024.
Residential mortgage loans refer to credit facilities provided by banks to individuals and enterprises that are collateralised by residential real estate in Macao Special Administrative Region (SAR). They include loans to finance purchase of residential properties and other purposes (such as refinancing loans, working capital and trade financing). Commercial real estate loans refer to credit facilities provided by banks to individuals and enterprises that are collateralised by commercial real estate in Macao SAR. They include loans to construction companies and loans to finance property development and investment.
