Private sector construction and real estate transaction for the 3rd quarter 2016

Source : Statistics and Census Service

Information from the Statistics and Census Service (DSEC) indicated that a total of 3,166 building units and parking spaces were purchased and sold as per Stamp Duty record in the third quarter of 2016, and the total value of transactions was MOP 17.22 billion, down by 18.4% and 10.0% respectively quarter-to-quarter. Purchase and sale of residential units totalled 2,399, amounting to MOP 14.54 billion, down by 19.5% and 4.8% respectively. Due to the commencement of pre-sale of new large-scale housing estates, pre-sale residential units purchased and sold increased by 49.6% to 347, and the total value rose significantly by 112.3% to MOP 3.79 billion. On the other hand, purchase and sale of existing residential units totalled 2,052, amounting to MOP 10.75 billion, down by 25.4% and 20.4% respectively.

The average price per square metre of usable area of residential units increased by 12.8% quarter-to-quarter to MOP 88,564 in the third quarter. The average price per square metre of pre-sale residential units rose by 10.1% to MOP 118,097; the average price in the Macao Peninsula rose by 8.0%, while that in Taipa and Coloane dropped by 10.0% and 1.3% respectively. Many of the pre-sale residential units purchased and sold were in Cidade & Hipódromo da Taipa (182), Coloane (45) and Móng Há & Reservatório (34), and the average price per square metre was MOP 122,415, MOP 103,352 and MOP 103,828 respectively.

The average price of existing residential units increased by 7.2% quarter-to-quarter to MOP 81,302 per square metre, with the average price of those in Taipa and Coloane rising by 24.9% and 2.6% respectively¸ and the average price of those in the Macao Peninsula decreasing by 1.9%. Many of the existing residential units purchased and sold were in Baixa da Taipa (328), NATAP (222) and Areia Preta & Iao Hon (180), and the average price per square metre was MOP 82,971, MOP 90,550 and MOP 69,743 respectively.

Analysed by year of completion, the average price of residential units completed in 5 years or less rose significantly by 31.2% quarter-to-quarter due to the release of relatively high-priced existing residential units in Taipa; a total of 194 units were purchased and sold (47 in NATAP, 25 in Jardins do Oceano e Taipa Pequena), and the average price was MOP 128,767 per square metre. Most of the transactions were residential units built between 21 and 30 years ago, totalling 985 units (130 in Areia Preta & Iao Hon, 109 in Baixa da Taipa), and the average price was MOP 70,149 per square metre, up by 0.9% quarter-to-quarter. For the purchase and sale of 411 residential units completed between 11 and 20 years ago (145 in Baixa da Taipa, 59 in NATAP), the average price rose by 1.6% to MOP 76,761 per square metre. The average price of the 316 residential units completed more than 30 years ago (52 in Barca, 46 in Conselheiro Ferreira de Almeida) increased by 2.0% to MOP 50,029 per square metre.

Analysed by usable floor area, there were 1,160 residential units with a floor area of 50.0 to 99.9 square metres, and the average price rose by 6.2% quarter-to-quarter to MOP 81,195 per square metre. There were 846 small-sized residential units with a floor area of less than 50 square metres, and the average price dropped by 2.8% to MOP 72,183 per square metre.

The average price of office units decreased by 6.5% quarter-to-quarter to MOP 93,524 per square metre, while that of industrial units increased by 24.9% to MOP 51,693 per square metre.

In the third quarter of 2016, there were 3,694 real estate purchase and sale contracts signed, involving 3,708 properties, down by 0.6% quarter-to-quarter; meanwhile, 3,412 mortgage contracts were signed, involving 4,522 properties, down by 7.8%.

As regards construction in the private sector, gross floor area of construction of new buildings totalled 125 thousand square metres, providing 879 units (818 are residential units) and 576 parking spaces for cars upon completion. Meanwhile, gross floor area of buildings completed totalled 44 thousand square metres, altogether providing 153 units (126 are residential units) and 70 parking spaces for cars.