Macao's residential mortgage loans soar 58 pct in Q3
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New residential mortgage loans (RMLs) approved by Macao banks increased notably by 58.0 percent quarter- to-quarter to 6.2 billion patacas (784 million U.S. dollars), according to the figures released on Friday by the Monetary Authority of the Macao Special Administrative Region (SAR).
The figures showed that the outstanding value of RMLs reached 40.7 billion patacas (5.15 billion dollars) at the end of September, up 10.8 percent compared with the previous quarter.
Meanwhile, new commercial real estate loans (CRELs) approved by local banks increased by 35.1 percent to 3.4 billion patacas (430 million dollars), of which, 98.1 percent was granted to local residents, according to the Monetary Authority.
The outstanding value of CRELs rose by 2.9 percent to 36.5 billion patacas (4.62 billion dollars) in the period.
As for delinquency ratios, those for RMLs stood at 0.23 percent in the period, while those for CRELs fell 0.01 percentage points to 0.33 percent, the Monetary Authority said.
