The new real estate mortgage loans (RMLs) approved by Macau banks decreased 23.9 percent year-on-year in July, according to figures released by the Monetary Authority of Macau.
New RMLs increased 6.6 percent month-on-month, reaching MOP4.2 billion in value, and 96.6 percent of them were granted to residents. In terms of value, new RMLs to residents and non-residents increased 6.3 percent and 13.8 percent respectively month-on-month.
New RMLs collateralized by uncompleted units (equitable mortgages) increased by 185.6 percent month-on-month to MOP806 million, while the equitable RMLs collateralized by uncompleted units decreased by 25.2 percent year-on-year.
New approvals of commercial real estate loans dropped 27.8 percent year-on-year.