Real estate transactions down in Q2, pre-sales fall 20%

Real estate transactions fell over the second quarter of 2022 (Q2), official statistical information from the Statistics and Census Service (DSEC) shows.

According to the official release, only 1,232 building units and parking spaces were traded in the period April to June this year with the figure of residential units dropping by 12.4% when compared with the first quarter of this year, while parking spaces dropped less (9%).

Drops were also noted in the price of the residential units traded, with the total value dropping by 13.0% to MOP4.85 billion (-13% quarter-on-quarter).

Dropping even further was the volume of pre-sales of residential units that decreased by 20% quarter-on-quarter while the value of these sales fell 30.8%.

Still, the average price per square meter remained steady with the overall average price of residential units (MOP94,800) dropping by 1.3% quarter-on-quarter.

Taipa was the location where the prices per square meter were lower (MOP93,387), followed by the Peninsula (MOP93,791) and Coloane (MOP107,042).

While the average price dropped by 2.1% and 8.6%, respectively for the last two, those in Taipa registered a small increase of 0.9%.

For commercial and industrial units, the average price per square meter of usable area of office units fell 11.5% quarter-on-quarter to MOP79,798, while the price of industrial units decreased 8.7% to MOP46,025.

At the end of June, there were 7,620 residential units in the design stage and 2,146 under construction in the private sector. 

Residential units under inspection totaled 100, with 85 units in the Peninsula and 15 units in Coloane. During the quarter, 39 residential units were issued construction permits, and six residential units were issued with a license of use; all of them studio flats located in the Peninsula.