Group 1: Core Insights - The total amount of newly approved residential mortgage loans in Macau increased by 6.3% month-on-month to MOP 1.25 billion in November 2025, while newly approved commercial property loans saw a significant decline of 52.0% to MOP 410 million [1][2] - The residential portion of newly approved mortgage loans, which accounts for 98.7%, rose by 7.7% to MOP 1.24 billion, whereas the non-residential portion dropped by 48.2% to MOP 16 million [2] - The average monthly amount of newly approved residential mortgage loans from September to November 2025 was MOP 1.19 billion, reflecting a 13.7% increase compared to the previous period [2] Group 2: Outstanding Loans - As of the end of November 2025, the total outstanding residential mortgage loans decreased by 0.2% month-on-month to MOP 207.77 billion, representing a year-on-year decline of 5.2% [3] - The outstanding commercial property loans totaled MOP 140.45 billion, down 0.4% month-on-month and 6.9% year-on-year [3] - The residential portion of outstanding residential mortgage loans accounted for 96.7%, while the outstanding commercial property loans had a residential portion of 91.5% [3] Group 3: Loan Default Ratios - The residential mortgage loan default ratio slightly increased to 3.9% at the end of November 2025, up 0.4 percentage points year-on-year [4] - The default ratio for commercial property loans remained stable at 5.6% month-on-month, with a year-on-year increase of 0.8 percentage points [4]

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]