New approvals of residential mortgage loans rose while those of commercial real estate loans decreased in November last year, the Macau Monetary Authority (AMCM) has announced.
In November, new residential mortgage loans approved by local banks increased by 6.6 percent month-to-month to 3.6 billion patacas. New approvals of commercial real estate loans dropped by 11.6 percent month-to-month to 2.8 billion patacas.
As of the end of November, the outstanding value of new approvals of residential mortgage loans was 212.3 billion patacas, up by 0.2 percent from a month earlier, or 12.3 percent higher from a year ago. The outstanding value of new approvals of commercial real estate loans stood at 192.4 billion patacas, up by 1.6 percent month-to-month, up 7.7 percent year-on-year.
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