The city’s average home prices went down 4.2 per cent quarter-to-quarter for the first three months of this year, valued at some MOP72,955 per (US$9,119) per square metre of usable area in the period, reveals the latest official data released yesterday by the Statistic and Census Service (DSEC).
According to DSEC, the average price of office units also registered a decrease of 4.2 per cent month-on-month to MOP97,568 per square metre during the quarter, while that of industrial units grew by 14.6 per cent quarter-to-quarter to MOP43,850 per square metre.
In the three months, a total of 1,928 building units and parking spaces were purchased and sold at MOP8.45 billion based on the recorded Stamp Duty, which is down by 22.3 per cent and 23.5 per cent quarter-to-quarter, respectively.
Housing transactions – purchase and sale – accounted for 1,215 or MOP5.55 billion of the total, down 16.8 per cent and 20.6 per cent quarter-to-quarter, respectively.
In fact, most housing transactions were made on completed units, which totalled 1,082 at MOP4.65 billion, down 15.4 per cent (purchase) and 16 per cent (sale), respectively. Meanwhile, housing transactions on off-plan units plunged 26.9 per cent year-on-year to 133, with total worth diving 38.1 per cent quarter-to-quarter to MOP0.91 billion.
In addition, signed real estate sale contracts, involving 2,599 properties, dropped 8.6 per cent quarter-to-quarter to 2,595, while signed mortgage contracts, involving 3,283 properties, decreased 14.9 per cent quarter-to-quarter to 2,522.
Prices of off-plan units post greater drop
DSEC data indicates the average price of pre-sale housing units declined by 8.9 per cent quarter-to-quarter in the first three months of the year, costing MOP94,165 per square metre as off-plan units on the Peninsula, in particular, decreased 16.1 per cent quarter-to-quarter.
Meanwhile, the average price of a completed residential unit cost only MOP69,825 per square metre in the quarter, representing a slight drop of 1.7 per cent from the fourth quarter of 2015.
Most transactions on off-plan residential units were made on properties in Coloane, which amounted to 78, costing MOP94,495 per square metre on average, whilst Baixa da Taipa was the most popular area for transactions on completed housing units, where a total of 154 housing transactions were recorded, with average prices coming in at MOP77,804 per square metre during the three months.
In terms of year of completion, the average price of those built 5 years ago or less was down by 4.6 per cent quarter-to-quarter to MOP98,005 per square metre, while those completed between 11 and 20 years ago, and more than 20 years ago, decreased by 1.9 per cent and 1.1 per cent to MOP70,912 and MOP59,832 per square metre, respectively.
2,339 new units under construction
On the other hand, a total of 2,339 units and 1,845 parking spaces are being built in the city, occupying a total gross floor area of 464,000 square metres. Of the total, 2,302 will be residential units, DSEC said. A total of 163 units (127 residential) and 133 parking spaces were completed during the first three months of this year, occupying a total gross floor area of 37,000 square metres.
