REAL ESTATE TRANSACTION
4th QUARTER/2011
No. 4 I. PRIVATE SECTOR CONSTRUCTION
In the fourth quarter of 2011, approvals were granted to the construction of buildings with a gross floor area of 21,293 square metres, which will provide a total of 37 units upon completion. For the whole year of 2011, construction approvals were granted to buildings with a gross floor area of 351,501 square metres to provide a total of 2,203 units, 1,216 parking spaces for cars and 707 parking spaces for motorcycles.
Gross floor area of new buildings started totalled 100,536 square metres in the fourth quarter of 2011, which will provide 513 units upon completion. In 2011, gross floor area of new buildings started was 367,253 square metres that will provide a total of 2,159 units, 1,277 parking spaces for cars and 718 parking spaces for motorcycles.
In the fourth quarter of 2011, gross floor area of buildings completed (including extensions) stood at 504,071 square metres, altogether providing 309 units, of which 290 are residential units, including 145 studio apartments. For 2011 as a whole, gross floor area of buildings completed totalled 1,162,506 square metres, providing 1,387 units, 2,940 parking spaces for cars and 1,185 parking spaces for motorcycles.
Table 1 - Principal indicators of construction approvals, new buildings and completion of buildings
Construction approvals Construction of new buildings Completion of buildings 2010 2011 2010 2011 2010 2011 End-use
Annual Annual Q4 Annual Annual Q4 Annual Annual Q4 Gross floor area (m²) - total 95 265 351 501 21 293 183 571 367 253 100 536 1 271 509 1 162 506 504 071
Residential 43 634 204 353 1 966 98 741 210 343 64 845 515 304 128 607 41 906
Commercial 9 637 7 797 989 12 773 7 220 1 680 41 908 14 026 1 277
Office 468 1 437 1 125 468 312 312 - 38 571 -
Industrial 5 998 9 798 - 5 998 9 798 739 - 38 678 5 998
Others 35 527 128 116 17 212 65 591 139 580 32 960 714 297 942 623 454 891
Number of units - total 424 2 203 37 870 2 159 513 4 527 1 387 309
Residential 347 2 084 23 781 2 053 485 4 066 1 099 290
Commercial 64 91 7 75 85 20 427 63 12
Office 4 2 1 4 1 1 - 168 -
Industrial 1 3 - 1 3 1 - 38 1
Others 8 23 6 9 17 6 34 19 6
Parking spaces
For cars 172 1 216 4 637 1 277 414 5 072 2 940 1 078
For motorcycles 50 707 6 195 718 184 1 753 1 185 517
REAL ESTATE TRANSACTION 4th QUARTER/2011 DSEC No. 4
II. TRANSACTION OF BUILDING UNITS WITH STAMP DUTY RECORD Transaction of building units
In the fourth quarter of 2011, number of building units purchased and sold decreased further by 5.2%
quarter-to-quarter to 3,543 as per Stamp Duty record, yet the total value increased by 5.2% to MOP10.12 billion. Among them, 1,047 new units at MOP3.83 billion were still within the property tax exemption period, up by 6.9% and 23.0% respectively quarter-to-quarter.
For the whole year of 2011, number of building units purchased and sold (27,624) decreased by 6.7% over 2010, yet the total value (MOP76.26 billion) increased by 34.4%. Analyzed by end-use, 17,176 residential units were purchased and sold, down by 4.5% year-on-year, while the total value went up by 28.1% to MOP58.86 billion; moreover, there were 2,196 commercial units, 932 office units, 194 industrial units and 6,977 parking spaces.
Analyzed by year of completion of the building, 8,396 residential units purchased and sold were completed in 2000 and after, 5,236 units in 1990-1999 and 3,544 units in 1989 and before.
As regards floor area of the unit, 7,889 residential units (45.9% of total) had an area of 50 to 99.9 square metres.
Table 2 - Transaction of building units by end-use
2010 2011 End-use
Annual Q4 Annual Q3 Q4
Number of units 29 617 8 818 27 624 3 738 3 543
Residential 17 989 5 084 17 176 2 194 2 173
Commercial 2 099 559 2 196 336 255
Office 652 78 932 278 243
Industrial 208 47 194 36 28
Parking spaces 8 483 2 990 6 977 861 816
Others 186 60 149 33 28
New buildings - subtotal 10 576 3 731 12 258 979 1 047 Old buildings - subtotal 19 041 5 087 15 366 2 759 2 496
Value (MOP million) 56 754 19 367 76 255 9 616 10 115
Residential 45 939 16 000 58 861 5 919 6 269
Commercial 5 264 1 754 9 686 1 816 1 952
Office 1 316 158 3 010 976 1 101
Industrial 422 95 911 329 #
Parking spaces 2 322 953 2 754 367 495
Others 1 491 408 1 033 209 #
New buildings - subtotal 31 263 11 974 43 993 3 114 3 831 Old buildings - subtotal 25 491 7 393 32 262 6 502 6 284
Coloane. Regarding the price of transaction, 4,872 residential units were sold for over MOP4,000,000;
4,967 units for over MOP2,000,000 to MOP4,000,000; 4,591 units for over MOP1,000,000 to MOP2,000,000; and 2,746 units for MOP1,000,000 or less.
Graph 1 - Transaction of building units with Stamp Duty record
Average price of transaction
Residential units
The average transaction price of all residential units amounted to MOP41,519 per square metre of usable area in the fourth quarter of 2011, up by 14.2% quarter-to-quarter. The average price of those in the Macao Peninsula (MOP39,228), Taipa (MOP45,057) and Coloane (MOP64,063) increased by 10.8%, 18.1% and 3.5% respectively quarter-to-quarter.
The average price of residential units with an area of 50 to 99.9 square metres increased by 21.9%
quarter-to-quarter to MOP43,598 per square metre, those having an area of smaller than 50 square metres rose by 15.0% to MOP35,643 per square metre.
For 2011 as a whole, the average price of residential units increased by 33.6% year-on-year to MOP41,433 per square metre. Analyzed by year of completion of the building, the average price of residential units completed in 2000 and after stood at MOP51,825 per square metre, up by 17.5%
year-on-year; the price of those completed in 1990-1999 increased by 33.1% to MOP33,597 per square metre, and that of residential units completed in 1989 and before rose by 41.0% to MOP26,723 per square metre.
0 5 000 10 000 15 000 20 000 25 000 30 000
Q4 2009
Q1 2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 0 1 000 2 000 3 000 4 000 5 000 6 000 7 000 8 000
Value of new buildings Value of old buildings Units of new buildings Units of old buildings
Million MOP Number
REAL ESTATE TRANSACTION 4th QUARTER/2011 DSEC No. 4
Table 3 - Average transaction price per square metre of residential units in selected districts by year of building completion
MOP
2010 2011
Annual Q4 Annual Q3 Q4
Year of building completion District
Overall 2000 and after
1990 to 1999
1989 and before Total of Macao 31 016 33 397 41 433 36 345 41 519 55 062 33 623 27 716 Macao Peninsula 28 340 29 664 39 599 35 416 39 228 52 946 33 995 27 592 Areia Preta e Iao Hon 21 896 22 519 31 125 31 455 32 246 43 584 34 624 28 279 NATAP 33 538 32 314 46 852 43 308 45 984 51 263 36 792 ~ Doca do Lamau 30 441 34 437 36 162 39 655 38 787 43 744 34 008 31 389 Horta e Costa e Ouvidor Arriaga 26 764 29 111 33 737 34 592 38 461 45 068 38 643 35 730 ZAPE 20 277 24 399 30 045 30 410 31 196 40 696 29 724 29 454 NAPE e Aterros da Baía da Praia Grande 54 402 51 835 71 220 60 393 61 126 75 585 33 452 # Barra / Manduco 24 258 27 491 33 648 30 180 32 085 46 683 30 703 25 748
Taipa 33 278 39 876 40 332 38 162 45 057 56 364 33 230 34 138
Jardins do Oceano e Taipa Pequena 29 527 28 837 42 935 36 629 36 115 ~ 36 115 ~ Baixa da Taipa 34 122 41 527 37 783 36 733 45 243 55 839 32 390 34 014
Coloane 60 769 64 398 68 991 61 893 64 063 66 697 28 495 ~
Graph 2 - Average transaction price per square metre of residential units by usable area
51 440
55 176 58 220
35 868 41 210
42 949 43 598
35 778 30 065
35 643
30 994 23 210
20 000 30 000 40 000 50 000 60 000
Q4 2010
Q1 2011
Q2 Q3 Q4
MOP
≧ 150 m 2 100 - 149.9 m2 50 - 99.9 m2 < 50 m2
The average transaction price of industrial units was MOP13,927 per square metre in the fourth quarter of 2011, down by 5.1% quarter-to-quarter. For the whole year of 2011, the average price of industrial units increased by 72.4% year-on-year to MOP12,001 per square metre.
Table 4 - Average transaction price per square metre of industrial units by year of building completion
MOP Year of building completion
Year Quarter Industrial units
1990 to 1999 1989 and before
2010 6 962 7 822 6 589
1 6 526 6 601 6 483
2 6 712 8 422 6 079
3 6 998 9 072 6 537
4 8 049 8 813 7 604
2011 12 001 15 194 11 154
1 10 572 14 207 10 263
2 11 734 14 122 10 648
3 14 678 15 743 14 252
4 13 927 19 950 12 254
In the fourth quarter of 2011, the average price of office units increased by 12.9% quarter-to-quarter to MOP38,404 per square metre. For 2011 as a whole, the average price of office units went up by 53.5%
year-on-year to MOP35,076 per square metre.
Table 5 - Average transaction price per square metre of office units in selected districts
MOP Year Quarter Total of Macao ZAPE NAPE e Aterros da
Baía da Praia Grande Baixa de Macau
2010 22 857 22 213 23 415 21 435
1 23 740 18 869 28 486 23 186
2 22 169 16 896 22 252 28 838
3 23 374 18 839 27 940 16 305
4 27 078 32 046 27 802 25 801
2011 35 076 29 921 36 662 33 007
1 27 700 27 393 30 819 #
2 36 618 35 277 37 909 32 506
3 34 011 23 937 35 200 32 004
4 38 404 34 674 39 068 37 662
REAL ESTATE TRANSACTION 4th QUARTER/2011 DSEC No. 4
III. REAL ESTATE CONTRACTS AND MORTGAGE CONTRACTS
There were 1,970 cases of real estate sale and purchase contracts made in private and public notary offices in the fourth quarter of 2011, down by 12.9% quarter-to-quarter, and the number of units dropped by 22.2% to 2,360. For the whole year of 2011, a total of 10,935 cases of real estate sale and purchase contracts were made; the number of units transacted totalled 14,075, down by 12.7% year-on-year.
In the fourth quarter of 2011, there were 1,910 cases of mortgage contracts signed. Among them, 1,539 were residential mortgages, a decrease of 18.3% quarter-to-quarter. For 2011 as a whole, a total of 9,961 cases of mortgage contracts were signed, of which 7,930 were residential mortgages, down by 6.7%
year-on-year.
Table 6 - Real estate contracts and mortgage contracts
Mortgage contract Type of real estate Real estate contract
Building unit Year Quarter
Number of notarized deeds
Number of real estate
Total
Sub-total Residential1 Commercial and office
Other building
units
Others2
2010 12 707 16 128 10 284 10 183 8 500 778 905 101
1 3 370 4 307 2 716 2 688 2 235 178 275 28
2 3 353 4 572 2 685 2 668 2 284 198 186 17
3 2 717 3 287 2 238 2 214 1 844 180 190 24
4 3 267 3 962 2 645 2 613 2 137 222 254 32
2011 10 935 14 075 9 961 9 857 7 930 927 1 000 104
1 3 181 4 382 2 570 2 543 2 016 249 278 27
2 3 522 4 301 3 129 3 106 2 491 288 327 23
3 2 262 3 032 2 352 2 319 1 884 238 197 33
4 1 970 2 360 1 910 1 889 1 539 152 198 21
Notes: 1. Including mortgages on residential units with carpark(s).
2. Including mortgages on land, buildings and combined types of real estate.
EXPLANATORY NOTES
1. Real estate: Including land, buildings and building units.
2. Building units: Including residential, commercial, office and industrial units, parking spaces, hotel and other units.
3. New buildings: Refer to building units entitled to property tax exemption, as stipulated in a) and b) of item 1 of Article 9 of the Regulation of Urban Property Tax, which prescribes the following as new buildings: 1) In the Macao Peninsula, not exceeding four years after completion for residential and/or commercial units, and not exceeding five years for industrial units. 2) In the Islands, not exceeding six years after completion for residential and/or commercial units, and not exceeding ten years for industrial units.
4. Intermediate transfer of title: A real estate transaction whose full transfer of ownership has not been completed. For taxation purposes, payment of 0.5% of Stamp Duty gives legal effects to the respective transaction.
5. Information on transaction of building units covers units with Stamp Duty paid in the reference period, while data of the Financial Services Bureau refers to residential units with application for payment of Stamp Duty made in the reference period; hence, direct comparison of data is inappropriate.
6. Transaction of residential units includes those that were exempt from payment of Stamp Duty.
7. Average transaction price of building units covers building units with Stamp Duty paid in the reference period, excluding cases bearing peculiar transaction prices such as gift of property, inheritance, transfer of partial ownership of property, etc.
8. Compilation of the average transaction price of office units only covers office buildings with ten storeys or higher.
~ No figure provided MOP Macao Pataca
# Confidential data
The following statistical tables are available for download from DSEC website:
1. Construction of residential units started by type of unit - private sector construction 2. Completion of residential units by type of unit - private sector construction
3. Notarial deeds by institution
4. Real estate transactions by notarial deed 5. Real estate mortgages by notarial deed 6. Real estate transactions by end-use
7. Real estate transactions by location, value and type of real estate 8. Real estate transactions by value of real estate and mortgage status
9. Real estate transactions with mortgage credits and value of mortgage, by type of mortgage, value of credit and type of real estate
10. Building units transactions with mortgage credits and value of mortgage, by type of mortgage, value of credit and end-use of building unit
11. Real estate transactions by value of real estate, legal nature and place of residence of buyer and seller 12. Real estate mortgages by type of mortgage, value of credit and type of real estate
13. Real estate mortgages by type of mortgage, value of credit and end-use of building unit
14. Real estate mortgages not involving real estate transaction by type of mortgage, value of credit, location and type of real estate
15. Real estate mortgages by type of mortgage, value of credit, legal nature and place of residence of borrower 16. Average price per square metre of residential units purchased and sold, by district per Stamp Duty record 16B. Average price per square metre of residential units purchased and sold, by district per Stamp Duty record
(excluding intermediate transfer of title and units scheduled for re-evaluation)
17. Average price per square metre of residential units purchased and sold, by year of building completion per Stamp Duty record
17B.Average price per square metre of residential units purchased and sold, by year of building completion per Stamp Duty record (excluding intermediate transfer of title and units scheduled for re-evaluation)
18. Average price per square metre of residential units purchased and sold, by usable area per Stamp Duty record 18B.Average price per square metre of residential units purchased and sold, by usable area per Stamp Duty record
(excluding intermediate transfer of title and units scheduled for re-evaluation)
19. Average price per square metre of industrial units purchased and sold, by year of building completion per Stamp Duty record
20. Average price per square metre of office units purchased and sold, by major district per Stamp Duty record 21. Purchase and sale of residential units by major district and year of building completion per Stamp Duty record 22. Purchase and sale of residential units by major district and usable area per Stamp Duty record
23. Purchase and sale of residential units by major district and value of transaction per Stamp Duty record
REAL ESTATE TRANSACTION 4th QUARTER/2011 DSEC No. 4
The following tables are available in the Monthly Bulletin of Statistics of DSEC Table 40 - Buildings completed – private sector construction
Table 41 - Units and area of buildings completed – private sector construction Table 42 - Buildings started – private sector construction
Table 43 - Units and area of buildings started – private sector construction
Table 44 - Units and gross floor area of buildings completed – private sector construction Table 45 - Units and gross floor area of buildings started – private sector construction Table 46 – Purchase and sale of building units per Stamp Duty record
Table 47 - Value of building units purchased and sold per Stamp Duty record
Table 48 - Number of buyers of building units purchased and sold by end-use of unit and buyer's status per Stamp Duty record
Table 49 - Value of building units purchased and sold by end-use of unit and buyer's status per Stamp Duty record Table 53 - Deeds notarized by type
Table 54 - Transactions of real estate by declared value Table 55 - Mortgage loans by credit value
SOURCES – Lands, Public Works and Transport Bureau Financial Services Bureau
1st Notary Office, 2nd Notary Office, Notary Office of the Islands and private notary offices
ACCESS TO STATISTICAL INFORMATION
Further information can be obtained from the Documentation and Information Centre of DSEC:
Alameda Dr. Carlos d´Assumpção, No. 411-417, Dynasty Plaza, 17th floor, Macao Tel. : 8399 5311
Fax : 2830 7825
E-mail: info@dsec.gov.mo Website: www.dsec.gov.mo
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