Total housing transactions in the city rebounded by 44.1 per cent year-on-year in March as home prices dropped by double-digit year-on-year, reveals the latest data released last Friday by Financial Services Bureau (DSF). According to official data, a total of 591 housing transactions were recorded during the month, which is more than double compared to 268 in February this year. In terms of area, most of the transactions were made involving residential property on the Peninsula, which surged 51.1 per cent year-on-year, or 135 per cent month-on-month, to 476 of the total. Meanwhile, transactions on Taipa and Coloane amounted to 88 and 27 in the month, respectively. The city’s home prices dropped to MOP72,741 (US$9,102) per square metre in the month, down 20.6 per cent year-on-year, or 1.34 per cent month-on-month. The cost of buying a residential unit on the Peninsula decreased 19.1 per cent year-on-year to MOP74,302 per square metre, whilst those in Taipa and Coloane fell 17 per cent and 16.5 per cent year-on-year, amounting to MOP74,302 and MOP93,703 per square metre, respectively. In terms of property type, 90 per cent, or 542, of total transactions were made on completed units, which increased by 77 per cent year-on-year, or 129.6 per cent month-on-month. This type of unit cost MOP70,602 per square metre on average in March, which declined by 10 per cent year-on-year but remained flat compared to February this year. Only 49 transactions were made on units still under construction in March. The number represents a drop of 52.8 per cent year-on-year but an increase of 53 per cent month-on-month. The prices of these units dropped 22.3 per cent year-on-year, or 2.76 month-on-month, to MOP91,862 per square metre on average, according to DSF.
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