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Home prices rise 16.8 pct in 2017: official

The average price of homes reached 100,822 patacas per square metre (10,670 square foot) last year, an increase of 16.8 percent year on year, the Statistics and Census Bureau (DSEC) said in a statement Wednesday

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The average price of homes reached 100,822 patacas per square metre (10,670 square foot) last year, an increase of 16.8 percent year on year, the Statistics and Census Bureau (DSEC) said in a statement Wednesday.

The average prices of homes on the peninsula (91,769 patacas), in Taipa (115,160 patacas) and Coloane (128,205) rose by 18.8 percent, 16.7 percent and 15.7 percent respectively.

The average price of existing homes (90,412 patacas) and pre-sale residential units (137,597 patacas) increased by 15.7 percent and 16.3 percent respectively.

The average prices per square metre of office units and industrial units were 113,198 patacas and 54,411 patacas respectively, up by 13.1 percent and 14.4 percent.

A total of 13,985 homes and parking spaces were sold last year, down by 0.9 percent. However, the sales value rose 15.0 percent to 85.2 billion patacas.

A total of 10,581 homes were sold last year, 411 more units than in 2016, at a total value of 69.4 billion patacas, up by 18.2 percent.

In the fourth quarter of last year, the average price per square metre of usable area of existing homes (90,047 patacas) and pre-sale homes (137,586 patacas) dropped 2.1 percent and 5.2 percent respectively from the previous quarter.

However, the overall average price of residential units grew by 6.4 percent to 105,654 patacas as the proportion of high-priced pre-sale homes in the total sales volume of residential units (30.7 percent) rose significantly by 18.7 percentage points, the DSEC statement pointed out.

At the end of last year, 20,529 homes in the private property sector were in the design stage, 9,324 were under construction and 1,295 were being inspected by the government.

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