According to statistics released today (16 May) by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both increased month-on-month in March 2025. With regard to the outstanding balances, both RMLs and CRELs witnessed declines on a monthly basis.
New lending approved
In March 2025, new RMLs approved by Macao banks rose by 7.2% month-on-month to MOP776.47 million. Among them, new RMLs to residents, representing 98.7% of the total, grew by 7.7% to MOP766.36 million; the non-resident component decreased by 19.5% to MOP10.11 million. The monthly average of new RMLs approved between January and March 2025 was MOP942.51 million, down 7.6% from the previous period (December 2024 to February 2025).
New CRELs increased by 27.4% month-on-month to MOP1.94 billion. Among them, new CRELs to residents, which occupied 95.9% of the total, rose by 48.1% to MOP1.86 billion; new CRELs to non-residents dropped 69.9% to MOP80.34 million. The monthly average of new CRELs approved between January and March 2025 was MOP1.64 billion, up 34.3% when compared with the previous period (December 2024 to February 2025).
Outstanding balances
As at end-March 2025, the outstanding value of RMLs was MOP215.71 billion, which fell by 0.5% from the preceding month or 5.1% from a year ago. Among them, the resident component made up 96.6% of the total. When compared with the previous month, outstanding RMLs to residents and non-residents dropped by 0.5% and 0.9% respectively.
The outstanding value of CRELs fell by 1.0% month-on-month or 5.9% year-on-year to MOP148.45 billion, attributable to the repayment of loans with large denomination. Among them, the resident component made up 91.9% of the total. When compared with the previous month, outstanding CRELs to residents and non-residents fell by 1.0% and 0.1% respectively.
Delinquency ratios
At end-March 2025, the delinquency ratio for RMLs stood at 3.6%, which kept stable from a month ago but up 0.2 percentage points over a year earlier. The ratio for CRELs was 5.4%, up 0.1 percentage point from a month ago or 2.1 percentage points from end-March 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.
