Statistics released by the Monetary Authority of Macao on January 15 show that new residential mortgage loans approved in November 2025 increased by 6.3% month-on-month to MOP 1.25 billion. In contrast, new commercial property loans approved recorded a decline, falling 52.0% month-on-month to MOP 410 million. Regarding the total outstanding loan balances, both residential mortgage loans and commercial property loans decreased compared to the previous month.

In November 2025, newly approved residential mortgage loans from Macau banks rose by 6.3% month-on-month to MOP 1.25 billion. The resident component, which constituted 98.7% of the new approvals, increased by 7.7% to MOP 1.24 billion, while the non-resident portion fell sharply by 48.2% to MOP 16 million. The three-month average for new residential mortgage approvals from September to November 2025 was MOP 1.19 billion, representing a 13.7% increase compared to the previous period from August to October.

Newly approved commercial property loans witnessed a significant decline, dropping 52.0% month-on-month to MOP 410 million. The resident segment, accounting for 97.5% of the total, decreased by 52.6% to MOP 400 million, whereas the non-resident portion remained unchanged at MOP 10 million. The monthly average for new commercial property loan approvals from September to November 2025 stood at MOP 490 million, marking a substantial 33.5% decrease from the preceding period of August to October.

As of the end of November 2025, the total outstanding balance of residential mortgage loans fell by 0.2% month-on-month to MOP 207.77 billion, which was also a 5.2% decrease year-on-year; residents held 96.7% of this total. The outstanding residential mortgage loans for both residents and non-residents declined by 0.2% and 0.5% month-on-month, respectively.

The total outstanding commercial property loan balance was MOP 140.45 billion, edging down 0.4% from the previous month and falling 6.9% compared to the same period last year; residents accounted for 91.5% of this total. Outstanding commercial property loans for residents and non-residents decreased by 0.3% and 1.2% month-on-month, respectively.

The delinquency ratio for residential mortgage loans at the end of November 2025 saw a slight increase to 3.9% compared to the previous month, and was up 0.4 percentage points year-on-year. The delinquency ratio for commercial property loans was 5.6%, remaining stable month-on-month but increasing by 0.8 percentage points compared to the same period last year.