New approvals of commercial real estate loans by local banks declined by 45.8 per cent month-on-month in July, in addition to a decrease in the approval of residential mortgages, according to the latest official data released yesterday by the Monetary Authority of Macau (AMCM). During the month, new commercial real estate loans (CREL) shrank to MOP3.5 billion (US$439.2 million), down MOP6.5 billion from one month ago. Some 62.6 per cent, or MOP2.2 billion, was granted to residents, a drop of 50.2 per cent from MOP4.4 billion in June, while new approvals for non-residents plunged 36.5 per cent month-on-month to MOP1.3 billion.
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