Housing prices in the MSAR surged 26.2 per cent year-on-year to MOP91,801 (US$11,475) per square metre in March. But the increase did not stop homebuyers from purchasing residential units – total transactions surged nearly 90 per cent from a year ago.
According to the latest official data from the Financial Services Bureau, some 1,120 home units were purchased and sold last month, not only representing a year-on-year increase but more than double the growth from 546 transactions in February.
Home prices, on a month-on-month comparison, grew 3.8 per cent from MOP88,440 per square metre.
The majority of transactions were made on housing units in the Macau Peninsula, at 832, a growth of 74.8 per cent year-on-year, or an increase of 94.8 per cent month-on-month.
The Islands registered even higher increases in the number of transactions. In particular, Coloane saw the number of housing transactions soar 185.2 per cent year-on-year, or 120 per cent month-on-month, totalling 77whilst home transactions in Taipa reached 211, rising 140 per cent year-on-year, or 151.2 per cent month-on-month.
Housing prices increase
Meanwhile, housing prices in Taipa recorded the highest year-on-year growth in the month, up 28.9 per cent to MOP95,775 per square metre, representing an increase of 1.1 per cent month-on-month.
Residential units on the Macau Peninsula sold for MOP87,528 per square metre on average, up 23.8 per cent year-on-year, or 37.1 per cent month-on-month.
Home prices in Coloane climbed 28.3 per cent year-on-year to MOP120,229 per square metre. But compared to February this year, this average cost dropped 13.7 per cent compared to MOP139,374 per square metre.
By type of unit, 973 of the month’s housing transactions were made on completed units, up 79.5 per cent year-on-year, whilst the other 147 were made off-plan, triple that of a year ago.
Off-plan sales cost MOP131,439 per square metre on average in the month, which grew 43 per cent year-on-year, or 6.74 per cent month-on-month.
Meanwhile, the average price of completed units increased 21 per cent year-on-year to MOP85,425 per square metre, representing an increase of 3.8 per cent month-on-month.