Stamp duty data shows that there were 413 residential property transactions in June, an increase of 19 percent when compared to the 346 transactions made in May.
Sales in Taipa saw a major 196 percent increase in sales between May and June, from 73 transactions to 216. But the Macao peninsula and Coloane both experienced a month-on-month decline of around 48 percent and 57 percent, with sales totalling just 177 and 47 respectively.
The average property price per square metre witnessed strong growth in June, with the data showing that it totalled 99,489 patacas, an 8 percent increase when compared to the 91,711 patacas from May. The price in the Macao peninsula saw a month-on-month growth of 2.7 percent (88,065 patacas), while the increase in Coloane amounted to 0.52 percent (101,455 patacas). Apartments in Taipa, however, saw their value fall slightly by 0.14 percent (111,985 patacas).
[See more: The property sector remains in the doldrums, according to the latest price index]
Overall, the second quarter saw 1,028 transactions, an increase of 91 percent in comparison to the first quarter. Average property price per square metre was similarly robust, with a total of 93,118 patacas, a jump of 8.7 percent quarter-on-quarter.
Macao realtors have expressed confidence that the SAR’s property market has the potential to grow following the scrapping of market curbs in April. Transaction and price data from May have shown month-on-month increases.
Despite this, Hong Kong’s property market remains sluggish several months after it lifted similar curbs in February, stoking fears that the momentum in the Macao real estate sector will also be short-lived.
