Property | Transaction value and numbers see snapback in Q2

The local private real estate sector enjoyed a boom in transaction values and quantities during the last quarter, following previous declines for three straight quarters, the latest figures from the Statistics and Census Service have revealed.
However, the transactions total for the first half of the year suffered a year-on-year plunge, with a price drop of 45.4 percent, while the number of transactions fell 38 percent.
In the second quarter, a total of up to 1,864 residential units were sold or purchased, at a combined price of MOP11.74 billion, suggesting a 67.3 percent rise in number and 92.8 percent rise in value of sales. Amongst those properties, the number of existing housing unit transactions went up to 1,408 at a total cost of MOP7.28 billion, up by 54.2 percent and 69.7 percent respectively. In addition, pre-sale units accounted for 456 of the sales, totaling MOP4.47 billion, up by 126.9 percent and 147.9 percent.
The average price of housing units went up by 6.5 percent quarter-to-quarter to MOP95,345 per square meter of usable area, while the average price of pre-sale units rose by 6.1 percent to MOP128,654 per square meter. The price hike was exceptionally obvious in Taipa, where 28.6 percent of growth was recorded, while the Macau Peninsula and Coloane saw drops of 8.6 percent and 4.9 percent respectively.
The average price per square meter of office units climbed by 1.9 percent quarter-on-quarter, while that of industrial units dropped by two percent.
New private buildings currently under construction, with a total floor area of close to 309,000 square meters, are expected to generate 1,804 residential units and 1,463 parking spaces upon completion. Thanks to the brand-new resort facilities in the Cotai Strip, the gross floor area of buildings already completed in the second quarter reached around 1.168 million square meters, offering 858 housing units and 2,985 parking bays. Staff reporter