52 property
Road to recovery
Residential units sold as per record
of stamp duty*:
The mass property market is showing signs that it is
YEaR MONTH
NUMBER OF
TRaNSaCTIONS
coming out of the woods, but the government needs to
2008 January 2,059
do its bit prepare solid ground for a sustainable recovery
February 1,333
March 1,587
by alan Tso
April 2,044
May 1,481
June 1,142
July 1,290
August 918
September 546
October 550
November 420
December 316
2009 January 172
*Note: For 2008 and 2009, data include transactions
of residential units valued below three million patacas,
which are exempt from the payment of stamp duty
according to a new government scheme.
Value of residential units sold
as per record of stamp duty:
YEaR MONTH
VaLUE
(10^6 MOP)
2008 January 5,006
February 2,973
March 3,432
April 4,818
May 3,287
June 1,784
July 3,358
August 1,993
September 981
October 1,042
November 611
December 493
2009 January 299
Source: DSEC
W
ITH its intermitent rains January, which posted only 172 residen- the secondary market by some informal
and warm breeze, spring is tial transactions. estimates.
definitely in the air. And it After a year of market consolidation,
seems the local property market is also most industry observers agree that hous- Luxuries off a cliff
beginning to show signs of thawing. ing prices have bottomed out although
According to Centaline and Mid- opinions are divided on when property As indicated by government sta-
land Realty, the two major real estate value and sales volume will return to tistics, Macau’s property market has
agencies in Macau, transaction volume 2007 levels. But at least one thing is suffered a serious exodus of foreign in-
has rebounded in recent weeks, with an clear: housing prices are slowly revers- vestors since the onset of the global fi-
estimated 400 residential transactions ing their downward trend and home val- nancial turmoil last year. This adequate-
in March – a marked improvement over ues have even gone up by 10 percent in ly explains the drastic fall in the value of
april 2009
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