Home prices fall slightly in August

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Average housing prices in the city settled at MOP82,800 (US$10,350) per square metre in August, a slight decline of 1.5 per cent year-on-year, due to lower prices in Macau and Coloane – and despite increased prices in Taipa. According to the latest official data released yesterday by the Financial Services Bureau (DSF) home prices on the Macau Peninsula dropped 10.5 per cent year-on-year to MOP73,846 per square metre, whilst those in Coloane fell 11 per cent year-on-year to MOP90,824 in the month. Nevertheless, the average cost of buying an apartment in Taipa soared 21.8 per cent to MOP99,126 per square metre last month vis-a-vis MOP81,318 per square metre for the same month one year ago. On a month-on-month comparison, the city’s average housing prices posted a decline of 15.2 per cent. Home prices in Taipa registered the biggest drop of 15.8 per cent, while those on the Peninsula fell 3.06 per cent. Coloane saw its average housing price creep up by 0.75 per cent. Transactions boosted In the month, the Bureau recorded a total of 745 housing transactions, a surge of 68.2 per cent year-on-year and marginally up 0.8 per cent month-on-month. Of the total, 552 of the transacted homes in the month were located on the Peninsula, which soared 61.4 per cent year-on-year compared to 342 transactions in the same period of 2015. Compared to the 448 transactions registered in July, the number also represents a growth of 23.2 per cent. In addition, the number of housing transactions in Taipa amounted to 177 in the same month, which is a 1.5-times increase compared to the 69 transactions of one year ago. Nevertheless, the number fell by 36.3 per cent from 278 transactions one month ago. Coloane saw 16 more sales and purchases of residential units last month, which halved when compared to the 32 transactions during the same month of last year, although the number increased 23.1 per cent month-on-month. Unit types In terms of unit types, 516 of the housing transactions were made on completed units, which rose by 83 per cent year-year-on-year, or 19 per cent month-on-month. The prices of such types of unit remained flat at MOP77,198 per square metre compared to one year ago. Yet, prices declined by 11.7 per cent when compared to the MOP87,422 per square metre of July. On the other hand, the number of off-plan sales amounted to 77 last month, which fell slightly by 1.28 per cent year-on-year, whilst jumping 58 per cent year-on-year. These uncompleted housing units were sold at MOP118,698 per square metre on average, up 6.2 per cent year-on-year, or 0.42 per cent month-on- month.