Number of property transactions in the third quarter of 2020 has decreased from the previous quarter, but with total transaction value increasing. In total, some 2,542 building units and parking spaces were purchased and sold in the third quarter, less 3.6 per cent than in the previous three months, while total transaction value increased by 1.6 per cent to MOP14.9 billion (US$1.8 billion). Considering only residential units, transfers dropped by 70 quarter-to-quarter to 1,901 units, with total value decreasing slightly to MOP12.6 billion. the average price per square meter of residential unit’s usable area dropped by 1.1 per cent quarter-to-quarter to MOP103,987.
The average prices of those in the Macao Peninsula (MOP100,859) and Coloane (MOP118,248) fell by 3.8 per cent and 1.1 per cent, respectively, while the average price of those in Taipa (MOP107,266) went up by 4.9 per cent. However, the transaction volume of pre-sale residential units jumped by 3 quarter-to-quarter to 296 units, with the transaction value rising by 18.8 per cent to MOP2.5 billion. While there are some positives to be drawn from the framework, it raises a lot of questions and leaves a lot to be desired. For one, industry players have expressed the need for a more active role in coming up with any regulation that affects the sector.