Property transactions surge up to MOP16b in April-June

The total transaction value of building units and parking spaces rose by 37.4% and 52.0% respectively quarter-on-quarter, together amounting to MOP15.99 billion.
According to data from the Statistics and Census Service (DSEC), a total of 2,731 building units and parking spaces were purchased and sold in the second quarter of 2021 according to Stamp Duty records.
Purchase and sale of residential units increased by 623 quarter-on-quarter to 1,933 units, and the total value increased by 61.6% to MOP13.69 billion. The number of existing residential units transacted (1,807 units) grew by 53.3% and the transaction value of MOP12.70 billion swelled by 72.4%. On the other hand, the transaction volume (126 units) and transaction value (MOP0.99 billion) of pre-sale residential units dropped by 3.8% and 10.4% respectively quarter-on-quarter.
Recently in its Macau Mid-year Review 2021, real estate firm JLL reported that the transaction volume of residential sales in Macau picked up in the first half of the year (H1), with the market performing strongly until May.
The sales market slowed down in June due to the new wave of the Covid-19 pandemic in Guangdong province.
JLL previously recorded that most buyers were local first home-owners, leading to more than 70% of overall residential sales, and added that residential buyers have a greater bargaining power due to the pandemic.
With respect to the average price per square meter of usable area, the overall average price of residential units increased by 5.2% quarter-on-quarter to MOP105,412, with the average prices of those in the Macau Peninsula (MOP103,603), Taipa (MOP105,808) and Coloane (MOP119,127) rising by 5.9%, 2.1% and 10.5% respectively.
The average price per square meter of existing residential units rose by 7.9% quarter-on-quarter to MOP102,928. The transacted units were mainly in Baixa da Taipa (355 units), NATAP (244 units) and Areia Preta & Iao Hon (129 units), and the respective average prices per square meter were MOP107,059, MOP118,384 and MOP102,244.
With regards to construction in the private sector, there were 8,964 residential units in the design stage, 2,662 under construction and 443 under inspection as at the end of the second quarter. During the second quarter, 39 residential units were issued the construction permit with 38 of them located in the Macau Peninsula; studio flats accounted for 71.8% of the total.