69
Residential units sold per record of stamp duty*
YEAR 2009
MONTH 2010
January February March April May June July August September October November December January February March April May June July
TRANSACTIONS 172 235 394 580 775 922
1,339 976
1,366 1,185 1,360 2,003 1,297 1,084 1,503 2,202 1,627 1,543 1,204
* Note: The data includes transactions of residential units valued below MOP3 million, which are exempt from stamp duty.
Average transaction value of residential properties
3000 2500 2000 1500 1000 500 0
Value (10^3 MOP) NUMBER OF
Value of residential units sold per record of stamp duty
YEAR 2009
MONTH 2010
January February March April May June July August September October November December January February March April May June July
(10^6 MOP)
299 372 594 980
1,156 1,627 2,767 1,730 3,161 2,130 2,643 4,057 3,140 1,995 2,806 6,180 4,281 3,319 2,642
Source: DSEC VALUE
Mortgage lending rises
N
ew mortgage approvals continued to increase
signifi cantly in the second quarter, the Monetary Authority of Macau has announced. New residential mortgage loans
May Jun Jul Aug Sep Oct Nov Dec 2009
Jan Feb Mar
Apr May Jun Jul 2010
Average transaction price of residential units per square metre
3500 3000 2500 2000 1500 1000 500 0
Q2 Q3 2007 Q4 Q1 Q2 2008
Kong and Macau (read more about the Hong Kong-Zhuhai-Macau Bridge in this edition’s Transport section). The housing market will be a major
benefi ciary. An illustration is that prices in neighbouring Zhuhai have been ris- ing since last year. The average value of
Q3 Q4 Q1 Q2 2009 Q3 Q4 Q1 2010
residential space in the city is now above 10,000 yuan (MOP11,900) per square metre and is on track to equal the cost of space in Macau.
Express demand There are market players that believe
Value (MOP)
approved by Macau banks in the second quarter, at MOP8.5 billion, were 21.7 percent higher than in the fi rst quarter. They were markedly higher than a year before, rising by 115.2 percent. After falling 16.0 percent in the
fi rst quarter, newly approved loans for commercial real estate increased by 55.3 percent in the second quarter to MOP8.3 billion. They were 231.4 percent higher than a year before. At the end of June, the
Q2
delinquency rate for residential mortgage loans stood at 0.13 percent, 0.02 percentage points lower than three months earlier and 0.10 percentage point lower than a year before. The delinquency rate for commercial real estate loans, at 0.39 percent, was 0.05 percentage points higher than three months earlier but 0.12 percentage points lower than a year before.
Zhuhai’s rising prices will make prop- erty in Macau more attractive to inves- tors. “Many people will choose to pay a bit more for a home in Macau which can offer better quality and amenities than a similar property in Zhuhai,” says Rachel Chen, a real estate agent whose clients
OCTOBER 2010
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