Macau’s real estate sector appears to be struggling to gain momentum, according to the latest data Stamp Duty Data Data released by the Shanghai Municipal Finance Bureau showed that in July, 356 residential units were sold in Shanghai, 57 fewer than the previous month, a drop of nearly 14%.
Macau Peninsula transactions increased by about 38% month-on-month, with a total of 245 transactions. However, Taipa transaction volume plummeted by 57%, while Coloane transaction volume fell by 10%.
The average price of residential properties in July was MOP93,374 per square meter, down 6.1% from June. By region, the average price in the Macau Peninsula rose 3% to MOP90,738 per square meter. Prices in Taipa fell 9.4% to MOP101,274 per square meter. Prices in Coloane also fell sharply, to MOP86,891 per square meter, down about 14% from the previous month.
[See more: Average residential rents rose in Macao during the second quarter]
this data If expressed in quarters, it is more promising because Second quarter A total of 1,026 residential unit sales transactions were made, up 79% quarter-to-quarter; the transaction value reached MOP6.65 billion, up 99.4% quarter-to-quarter.
The average price per square metre of residential properties increased by 7.9% quarter-to-quarter, with Taipa and Coloane increasing by 20.9% (MOP107,601) and 0.3% (MOP102,625) respectively, while that of the Macau Peninsula fell by 1.9%.
In April this year, the Macau government announcement The government is lifting restrictions on real estate to revive the sluggish property market. Although the long-term impact of the policy shift has yet to be seen, local real estate agents believe That has helped boost economic growth. However, there are concerns that Macau could end up in a slump similar to that of Hong Kong, which has largely failed to boost its property market despite lifting restrictions as early as 2007. February.
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