Core Insights - The new residential mortgage loans and commercial property loans in Macau decreased month-on-month in July 2025, indicating a potential slowdown in the lending market [1] - The total outstanding residential mortgage loans decreased by 0.6% month-on-month and 5.5% year-on-year, while the outstanding commercial property loans remained stable month-on-month but decreased by 5.3% year-on-year [2] - The delinquency rate for residential mortgage loans increased by 0.1 percentage points month-on-month, while the delinquency rate for commercial property loans remained stable month-on-month but increased year-on-year [3] Group 1: New Loans - New residential mortgage loans approved in July 2025 decreased by 0.3% to 1.05 billion MOP, with the residential portion increasing by 1.6% to 1.04 billion MOP and the non-residential portion dropping by 55.4% to 15 million MOP [1] - New commercial property loans decreased significantly by 84.9% to 280 million MOP, with the residential portion declining by 85.2% to 270 million MOP and the non-residential portion decreasing by 67.9% to 10 million MOP [1] Group 2: Outstanding Loans - As of the end of July 2025, the total outstanding residential mortgage loans decreased by 0.6% month-on-month to 211.21 billion MOP, with a year-on-year decrease of 5.5% [2] - The total outstanding commercial property loans were approximately 145.48 billion MOP, remaining stable month-on-month but showing a year-on-year decrease of 5.3% [2] Group 3: Delinquency Rates - The delinquency rate for residential mortgage loans rose to 3.7% at the end of July 2025, an increase of 0.1 percentage points month-on-month, but a decrease of 0.5 percentage points year-on-year [3] - The delinquency rate for commercial property loans was stable at 5.4% month-on-month, with a year-on-year increase of 1.5 percentage points [3]

Core Insights - The new residential mortgage loans and commercial property loans in Macau increased month-on-month in March 2025, while the total outstanding loans decreased [1][2] Group 1: New Loans - New residential mortgage loans approved in March 2025 rose by 7.2% month-on-month to MOP 780 million, with the residential portion increasing by 7.7% to MOP 770 million, while the non-residential portion fell by 19.5% to MOP 10 million [1] - New commercial property loans increased by 27.4% month-on-month to MOP 1.94 billion, with the residential portion rising by 48.1% to MOP 1.86 billion, while the non-residential portion dropped by 69.9% to MOP 80 million [1] Group 2: Outstanding Loans - As of the end of March 2025, the total outstanding residential mortgage loans amounted to MOP 215.71 billion, down 0.5% month-on-month and 5.1% year-on-year, with the residential portion accounting for 96.6% [2] - The total outstanding commercial property loans decreased by 1.0% month-on-month to MOP 148.45 billion, down 5.9% year-on-year, with the residential portion making up 91.9% [2] Group 3: Loan Default Ratios - The residential mortgage loan default ratio remained stable at 3.6% as of the end of March 2025, up 0.2 percentage points year-on-year [3] - The commercial property loan default ratio increased to 5.4%, rising by 0.1 percentage points month-on-month and 2.1 percentage points year-on-year [3]