In the third quarter of this year the average price of residential units decreased by 10 percent quarter-to-quarter, to MOP100,024 per square meter of usable space. According to the Statistics and Census Service (DSEC) the drop is attributable to a 22 pct decline in the average price of pre-sale residential units (MOP144,086).
Official statistics indicate that purchase and sale of homes totaled 1,769, at MOP11.42 billion, down by 28 pct and 35 pct respectively quarter-to-quarter; total value of pre-sale residential units (253) and existing residential units (1,516) amounted to MOP2.72 billion and MOP8.70 billion respectively.
A total of 3,070 building units and parking spaces were purchased and sold at MOP18.39 billion in the third quarter of 2014, per the Stamp Duty record, down by 26 pct and 37 pct respectively quarter-to-quarter.
DSEC also indicates that residential units increased by 5 pct quarter-to-quarter to MOP91,251 per square meter, while the average price of those in Coloane soared by 23 pct to MOP83,692 per square meter.
Analyzed by year of completion, there were 884 residential units built more than 20 years ago (117 in Areia Preta & Iao Hon, 100 in Barra) and the average price was MOP72,567 per square meter, up by 8 pct quarter-to-quarter. For the 413 residential units completed between 11 to 20 years ago the average price increased by 12 pct quarter-to-quarter, at MOP90,772 per square meter. The average price of the 123 residential units completed within 5 years or less decreased by 4 pct, at MOP135,298 per square meter.
The average price of office units and industrial units was MOP132,380 and MOP60,407 per square meter, up by 11 pct and 3 pct respectively quarter-to-quarter.
As regards construction in the private sector, gross floor area of construction of new buildings in the third quarter totaled 502,034 square meters, providing 91 units upon completion. Meanwhile, gross floor area of buildings completed totaled 7,508 square meters, altogether providing 40 units.
Residential mortgage loans drop by 9.8 pct
New approvals of residential mortgage loans (RMLs) dropped by 9.8 percent month-on-month in September, reaching MOP4.6 billion. According to data released by the Monetary Authority of Macau, new commercial real estate loans (CRELs) declined 56.2 percent month-on-month, reaching MOP4.8 billion.
In terms of value, new RMLs to residents and non-residents decreased by 5.9 percent and 57.4 percent respectively. New CRELs to residents declined 59.7 percent in value, while non-residents increased 104.8 percent.
No Comments