Private sector construction and real estate transactions for the 2nd quarter of 2024
MACAU, August 16 - Information from the Statistics and Census Service (DSEC) indicated that a total of 1,574 building units and parking spaces were purchased and sold in the second quarter of 2024 as per Stamp Duty record, and the total value of transactions was MOP9.31 billion, up by 63.1% and 95.6% respectively quarter-on-quarter. Purchase and sale of residential units increased by 453 quarter-on-quarter to 1,026 units, marking the second consecutive quarter of growth; the total transaction value leapt by 99.4% to MOP6.65 billion. Number of existing residential units transacted (890 units) hiked by 67.9% and the transaction value (MOP5.98 billion) swelled by 92.6%. Besides, transaction volume (136 units) and value (MOP670 million) of pre-sale residential units surged by 216.3% and 191.1% respectively quarter-on-quarter.
With respect to the average price per square metre of usable area, the overall average price of residential units grew by 7.9% quarter-on-quarter to MOP91,697 in the second quarter. The average price of residential units in Taipa (MOP107,601) went up by 20.9%, mainly due to an increase of 35.5 percentage points in the proportion of relatively high-priced pre-sale residential units transacted in that area (36.4%). The average price of residential units in Coloane (MOP102,625) climbed by 0.3%, while the price of those in the Macao Peninsula (MOP80,260) dipped by 1.9%. The average price per square metre of existing residential units went up by 6.2% quarter-on-quarter to MOP88,776. The transacted units were mainly in Baixa da Taipa (174 units), NATAP (95 units) and ZAPE (66 units), and the respective average prices per square metre were MOP106,529, MOP89,657 and MOP84,960. Meanwhile, the average price of pre-sale residential units rose by 16.7% quarter-on-quarter to MOP128,100, driven by the launch of new housing estates in the quarter.
The average price per square metre of usable area of industrial units (MOP44,702) increased by 3.1% quarter-on-quarter, while that of office units (MOP67,778) dropped by 4.0%.
In the first half of 2024, a total of 2,539 building units and parking spaces were purchased and sold, and the total value of transactions was MOP14.07 billion. Among the transacted units, 1,599 were residential units, which were valued at MOP9.99 billion.
As regards construction in the private sector, there were 5,692 residential units in the design stage, 2,210 under construction and 165 under inspection as at the end of the second quarter. During the quarter, 11 residential units were issued the licence of use and all of them were studio flats located in the Macao Peninsula. Meanwhile, 7 residential units were issued the construction permit; 85.7% of them were studio flats and 14.3% were three-bedroom units.
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