Macau (MNA) – The number of residential units and parking spaces transacted in 2017 in the Macau SAR fell 0.9 per cent year-on-year to 13,985, data from the Statistics and Census Service (DSEC) revealed on Wednesday. However, the value of transactions increased 15 per cent year-on-year to MOP85.23 billion (US$10.57 billion).
The data shows that the average price of residential units was MOP100,822 per square metre in 2017, up 16.8 per cent year-on-year.
The average price of residential units on the Macau Peninsula in 2017 recorded an increase of 18.8 per cent to MOP91,769 , with Taipa posting an increase of 16.7 per cent to MOP115,160 , and Coloane 15.7 per cent to MOP128,205.
The average price of existing residential units (MOP90,412) and pre-sale residential units (MOP137,597) also went up by 15.7 per cent and 16.3 per cent, respectively, year-on-year, DSEC data show.
Office and industrial units also registered increased in their average price per square metre – to MOP113,198 (up 13.1 per cent) and MOP54,411 (up 14.4 per cent), respectively.
A total of 3,111 residential units received construction permit with a total floor area of 288,000 square metres, and over 4,300 residential units with a total floor area of 338,000 square metres were issued a licence of use.
Some 14,917 real estate purchase and sale contracts were signed in 2017 with 15,041 properties involved, up 5.2 per cent year-on-year. In addition, 13,527 mortgage contracts were signed, down 5.9 per cent year-on-year to 17,439 properties involved.
In quarterly terms, DSEC data showed that 3,241 building units and parking spaces were purchased and sold as per stamp duty record in the fourth quarter of 2017. The total value of the transactions in the period was MOP21.57 billion, up 15.0 per cent and 38.1 per cent, respectively, quarter-to-quarter.
Average price per square metre of usable area in residential units decreased 2.1 per cent quarter-to-quarter to MOP90,047, while the mark for pre-sale residential units decreased 5.2 per cent quarter-to-quarter to MOP137,586. However, the overall average price of residential units grew by 6.4 per cent to MOP105,654 as the proportion of pre-sale residential units in the total transaction volume of residential units was up 18.7 percentage points.
Data on construction in the private sector shows 20,529 residential units were in the design stage, with 9,324 under construction and 1,295 under inspection in Q4, DSEC informs.