Macao's average residential unit price drops 8.0% in Q1

MACAO - Macao's overall average price of residential units per square meter of usable area decreased by 8.0 percent quarter to quarter to 100,217 patacas (about $12,527) in the first quarter of 2021, the special administrative region's (SAR) statistics service said here Monday.

The latest report from Macao's Statistics and Census Service indicated that a total of 1,987 building units and parking spaces were purchased and sold in the first quarter of 2021, and the total value of transactions was 10.52 billion patacas, down by 16.1 percent and 22.4 percent respectively quarter to quarter.

The purchase and sale of residential units decreased by 320 quarter to quarter to 1,310 units and the total value of transactions fell by 26.5 percent to 8.47 billion patacas.

The number of transacted existing residential units dropped by 13.4 percent to 1,179. The transaction value fell by 16.1 percent to 7.37 billion patacas.

Meanwhile, the number of transacted pre-sale residential units declined by 51.1 percent quarter to quarter to 131 units, amounting to 1.10 billion patacas in value, down by 59.7 percent.

In the first quarter of 2021, there were 2,911 real estate purchase and sale contracts signed, and the number of properties involved fell by 8.8 percent quarter to quarter to 3,681.

Meanwhile, 2,702 mortgage contracts were signed, with the number of properties involved dropping by 21.4 percent quarter to quarter to 3,115.