Information from the Statistics and Census Service (DSEC) indicated that the stagnant property market of Macao continued in the first quarter of 2009. Based on Stamp Duty records, 1,664 building units amounted to MOP2.13 billion were sold and purchased, down by 16.9% and 20.5% respectively over the previous quarter, with 28.0% (466 units valued at MOP931 million) being new units within the property tax exemption period, down by 37.8% and 39.2% respectively over the previous quarter. The majority (801 units) of these transactions were residential units and the corresponding value amounted to MOP1.27 billion, down by 37.7% and 41.0% respectively quarter-to-quarter. Among the residential units, 592 were situated in the Macao Peninsula and 204 in Taipa. In terms of the transaction price, 55.4% (444 units) were sold for MOP1,000,000 or less and 21.5% (172 units) for over MOP2,000,000 to MOP4,000,000. Analysed by year of building completion, sale and purchase of 263 residential units were completed in 2000 and after, 289 units in 1990-1999 and 249 units in 1989 and before. As regards the floor area of the units, 41.9% (336 units) had an area of 50 to 99.9 square metres, and 31.3% (251 units) had an area smaller than 50 square metres. In the first quarter of 2009, the average transaction price of residential units dropped by 5.3% quarter-to-quarter to MOP17,112 per square metre of usable area, of which the average price of those in the Macao Peninsula decreased by 7.0% to MOP14,436 per square metre, while the average of those in Taipa stayed at similar level as the preceding quarter, at MOP24,871 per square metre. Meanwhile, the average price of residential units purchased and sold under Intermediate Transfer of Title was MOP29,123 per square metre, down by 1.3% quarter-to-quarter. The average price of office units stood at MOP22,228 per square metre, up by 16.8% quarter-to-quarter; the average transaction price of industrial units rose by 21.5% to MOP6,421 per square metre. There were 1,118 cases of real estate sale and purchase contracts made in the first quarter of 2009, involving 1,291 units valued at MOP1.39 billion, down by 24.9% and 34.9% respectively quarter-to-quarter. In the first quarter of 2009, approvals were granted to the construction of 8 buildings with a gross floor area of 106,000 square metres, which will provide a total of 59 units, 16 parking spaces for cars and 30 parking spaces for motorcycles upon completion. Meanwhile, construction of 8 new buildings with a gross floor area of 22,000 square metres has been started, upon completion, will provide 28 units (18 were residential units). In addition, a total of 14 buildings with a gross floor area of 178,000 square metres were completed, altogether providing 768 units (722 were residential units), 1,180 parking spaces for cars and 353 parking spaces for motorcycles.
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