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Price of residential flats drops 1.1% in Q3

A total of 2,542 building units and parking spaces were purchased and sold in the third quarter as per stamp duty records, a decrease of 3.6 per cent quarter-to-quarter.

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A total of 2,542 building units and parking spaces were purchased and sold in the third quarter as per stamp duty records, a decrease of 3.6 per cent quarter-to-quarter.

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PUBLISHED

UPDATED: 22 Dec 2023, 5:46 am

A total of 2,542 building units and parking spaces were purchased and sold in the third quarter as per stamp duty records, a decrease of 3.6 per cent quarter-to-quarter, while the total value of transactions rose by 1.6 per cent to MOP 14.94 billion (US$1.87 billion), the Statistics and Census Bureau (DSEC) announced on Tuesday.

Residential housing sales decreased by 70 quarter-to-quarter to 1,901 units, while the total value fell by 0.7 per cent to MOP 12.60 billion. The number of existing residential units sold fell to 1,605, down by 73 from the previous quarter, amounting to MOP 10.05 billion, a 4.7 per cent decrease. A total of 296 pre-sale residential units were sold in the third quarter, down by three from the second quarter, but the sales value rose by 18.8 per cent to MOP 2.55 billion.

Concerning the average price per square metre of usable area, the overall average price of residential units (MOP 103,987) dropped by 1.1 per cent quarter-to-quarter. The average prices of those in the peninsula (MOP 100,859) and Coloane (MOP 118,248) fell by 3.8 per cent and 1.1 per cent respectively, while the average price of those in Taipa (MOP 107,266) rose by 4.9 per cent.

The average price per square metre of usable area of existing residential units dipped by 1.7 per cent quarter-to-quarter to MOP 97,056.

Regarding pre-sale residential flats, the average price per square metre fell by 5.3 per cent quarter-to-quarter to 143,963 per cent.

The average prices per square metre of industrial units and office units decreased by 8.8 per cent and 1.8 per cent quarter-to-quarter to MOP 47,742 and MOP 110,244 respectively.

In the third quarter, 3,671 real estate sales contracts were signed, and the number of properties involved (3,815) rose by 52.1 per cent quarter-to-quarter. Meanwhile, 3,434 mortgage contracts were signed, and the number of mortgaged properties rose by 66.3 per cent to 4,914.

As regards construction in the private sector, there were 9,001 residential units in the design stage, 3,325 under construction and 1,121 under inspection at the end of the third quarter. During the quarter, 50 residential units were issued their construction permit and 41 residential units were issued their move-in permit, and all of them were located in the peninsula.

(The Macau Post Daily/Macao News)
Photo by Macau Photo Agency

UPDATED: 22 Dec 2023, 5:46 am

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