New mortgages fall more than one-quarter in June

2013-8-20

From：Macau Business

New home loans issued by banks fell to MOP3 billion (US$375 million) in June, a 27.8-percent drop over May’s figure, and one-quarter less than the value of mortgages issued in June last year, says the Monetary Authority of Macau.

June’s drop coincided with a law regulating sales of unfinished flats coming into effect.

According to data released by the authority, the value of commercial real estate loans was MOP3.9 billion in June, a 46.9 percent increase over May’s figure.

With 96.5 percent and 96 percent of home loans and loans for commercial property, the vast majority of loans were made to Macau residents.

Copyright@Macau Business