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No bubble in sight

In April, the average price per square metre for housing was up 22 pct y-o-y, SSD amounts paid were up 197 pct y-o-y

Despite a small drop in the number of housing transactions in April, the average price per square metre still went up 21.68 per cent year-on-year, whereas the average usable space remained the same as during the same period last year, according to the most recent data from the Financial Services Bureau (DSF).
So far this year, a total of 3,396 housing transactions have taken place, with an average price per square metre of MOP92,189 and an average of 69 square metres of usable space, according to the data.
In addition, the amount paid under the Special Stamp Duty (SSD) in April of this year amounted MOP7.13 million, a 197.4 per cent increase year-on-year. The total amount was derived from four housing transactions amounting to an SSD of MOP6.12 million, one commercial property transaction with SSD amounting to MOP824,000 and one parking space whose SSD amounted to MOP187,460.
So far this year a total of MOP11.13 million has been paid out in SSD for 17 housing transactions, MOP1.09 million in SSD for two commercial transactions and MOP657,140 in SSD for three parking spaces.
In addition, under the additional 10 per cent levy on property transactions made by non-residents of the MSAR or entities, a total of MOP27.99 million was paid out for a total of 33 residential properties, bringing the total amount this year to MOP72.2 million for 97 total transactions. The month of April had the most transactions under the additional SSD levy so far this year, up by one transaction from the previous month.