macao Mortgage Loans: Residential Dips, Commercial Rises in August 2025
Macao – New approvals for residential mortgage loans (RMLs) decreased while commercial real estate loans (CRELs) increased in Macao during August 2025, according too data released today, October 15, by the Monetary Authority of Macao. Both RML and CREL outstanding balances also declined month-over-month.
New RML approvals totaled MOP820.82 million in August 2025, a 22.2% decrease from the previous month. New loans to residents, accounting for 98.2% of the total, fell 22.5% to MOP806.05 million, while non-resident RMLs decreased 3.1% to MOP14.77 million. The average of new RMLs approved from June to August 2025 was MOP977.79 million, down 4.1% from May-July 2025.
Conversely, new CREL approvals surged by 301.8% to MOP1.14 billion, though from a lower base in the prior month. Resident CRELs, representing 54.1% of the total, increased by 125.5% to MOP617.70 million, and non-resident CRELs reached MOP524.48 million. The june-August 2025 average for new CREL approvals was MOP1.10 billion, a 20.8% increase compared to the May-July 2025 period.
As of the end of August 2025, the outstanding value of RMLs was MOP209.86 billion, a 0.6% monthly and 5.9% year-on-year decrease. Resident RMLs comprised 96.7% of the total, with both resident and non-resident outstanding balances dropping by 0.6% and 0.8% respectively, month-on-month.
The outstanding value of CRELs stood at MOP143.54 billion, down 1.3% from the previous month and 6.2% year-on-year. Resident CRELs made up 91.4% of the total, with monthly declines of 1.3% for residents and 2.0% for non-residents.
Delinquency ratios edged up slightly. The RML delinquency ratio was 3.8% at the end of August 2025, up 0.1 percentage point from the previous month but down 0.5 percentage points year-on-year. the CREL delinquency ratio was 5.5%, increasing 0.1 percentage point month-on-month and 1.6 percentage points year-on-year.
Residential mortgage loans are defined as bank credit facilities secured by residential real estate in Macao SAR, including loans for purchase, refinancing, working capital, and trade financing. Commercial real estate loans are bank credit facilities secured by commercial real estate in Macao SAR, including loans to construction companies and for property progress and investment.
Detailed statistics are available at: https://www.amcm.gov.mo/en/research-statistics/statistics-page/official-statistics-summary-page
