REAL ESTATE TRANSACTION
1st QUARTER/2011
No. 1 I. PRIVATE SECTOR CONSTRUCTION
In the first quarter of 2011, approvals were granted to the construction of buildings with a gross floor area of 10,447 square metres, which will provide a total of 84 units upon completion, of which 73 are residential units.
Gross floor area of new buildings started totalled 9,394 square metres in the first quarter of 2011, which will provide 93 units, of which 81 are residential units.
In the first quarter of 2011, gross floor area of buildings completed (including extensions) totalled 163,989 square metres, altogether providing 567 units, of which 346 are residential units, including 170 two-bedroom apartments; in addition, a total of 820 parking spaces for cars and 327 parking spaces for motorcycles were available.
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
Q1 Q4 Q1 Q1 Q4 Q1 Q1 Q4 Q1
Gross floor area (m²) - total 10 169 21 201 10 447 124 615 30 856 9 394 64 769 356 338 163 989 Residential 2 764 3 925 5 122 65 914 15 735 5 934 18 341 266 152 42 904
Commercial 939 1 299 1 185 4 290 1 820 1 410 1 433 16 874 10 549
Office 468 - - 468 - - - - 37 637
Industrial 5 998 - 2 089 5 998 - - - - 32 680
Others - 15 977 2 050 47 944 13 300 2 050 44 995 73 312 40 218
Number of units - total 42 56 84 508 189 93 149 2 043 567
Residential 30 47 73 476 168 81 136 1 987 346
Commercial 7 7 8 24 17 10 6 49 19
Office 4 - - 4 - - - - 159
Industrial 1 - 1 1 - - - - 37
Others - 2 2 3 4 2 7 7 6
Parking spaces
For cars - - - 496 77 - 146 1 815 820
For motorcycles - - - 93 79 - 138 569 327
- Absolute value equals zero
REAL ESTATE TRANSACTION 1st QUARTER/2011 DSEC No. 1
II. TRANSACTION OF BUILDING UNITS WITH STAMP DUTY RECORD
Transaction of building units
In the first quarter of 2011, a total of 7,422 building units were purchased and sold at MOP17.67 billion per Stamp Duty record, down by 15.8% and 8.8% respectively quarter-to-quarter. Among them, 2,929 new units at MOP9.64 billion were still within the property tax exemption period, down by 21.5%
and 19.5% respectively quarter-to-quarter.
Analyzed by end-use, 4,554 residential units were purchased and sold at MOP13.41 billion, down by 10.4% and 16.2% respectively quarter-to-quarter; moreover, there were 781 commercial units, 133 office units, 63 industrial units and 1,854 parking spaces.
Analyzed by year of completion of building, 2,130 residential units purchased and sold in this quarter were completed in 2000 and after, 1,435 units in 1990-1999 and 989 units in 1989 and before.
As regards floor area, 1,977 residential units (43.4% 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
Q1 Q4 Q1
Number of units 6 386 8 818 7 422
(Of which: Intermediate Transfer of Title) 1 363 3 462 2 374
Residential 3 884 5 084 4 554
(Of which: Intermediate Transfer of Title) 792 1 567 1 701
Commercial 409 559 781
Office 153 78 133
Industrial 53 47 63
Parking spaces 1 843 2 990 1 854
Others 44 60 37
New buildings - subtotal 1 714 3 731 2 929
Old buildings - subtotal 4 672 5 087 4 493
Value (MOP million) 10 024 19 367 17 670
(Of which: Intermediate Transfer of Title) 3 922 10 702 8 563
Residential 7 942 16 000 13 413
(Of which: Intermediate Transfer of Title) 3 751 9 961 8 073
Commercial 1 007 1 754 2 689
Office 221 158 280
Industrial 127 95 231
Parking spaces 397 953 667
Others 330 408 391
New buildings - subtotal 4 591 11 974 9 636
Old buildings - subtotal 5 433 7 393 8 034
Coloane. Regarding the price of transaction, 1,131 residential units were sold for over MOP4,000,000;
1,289 units for over MOP2,000,000 to MOP4,000,000; 1,253 units for over MOP1,000,000 to MOP2,000,000; and 881 units for MOP1,000,000 or less.
In the first quarter of 2011, a total of 2,374 units (32.0% of total) valued at MOP8.56 billion were purchased and sold under Intermediate Transfer of Title, down by 31.4% and 20.0% respectively quarter-to-quarter. Among them, 1,701 were residential units and the total value decreased by 19.0% to MOP8.07 billion.
Graph 1 - Transaction of building units with Stamp Duty record
Average price of transaction Residential units
According to the information per Stamp Duty record, the average transaction price of all residential units amounted to MOP38,261 per square metre of usable area in the first quarter of 2011, up by 14.6%
quarter-to-quarter. The average price of those in the Macao Peninsula stood at MOP37,159 per square metre and the price of those in Coloane was MOP67,484 per square metre, up by 25.3% and 4.8%
respectively quarter-to-quarter. Meanwhile, the average price of residential units in Taipa decreased by 16.2% quarter-to-quarter to MOP33,402 per square metre.
Analyzed by year of completion of building, the average price of residential units completed in 2000 and after stood at MOP49,314 per square metre and the price of those completed in 1990-1999 was MOP30,738 per square metre, up by 7.2% and 14.9% respectively quarter-to-quarter; the average price of those completed in 1989 and before rose by 17.5% to MOP23,821 per square metre.
Analyzed by floor area, the average price of residential units with an area of smaller than 50 square
6 386
8 818
7 422
2 374 3 462
1 363
0 2 000 4 000 6 000 8 000 10 000
Q1 2009
Q2 Q3 Q4 Q1
2010
Q2 Q3 Q4 Q1
2011
Total Intermediate Transfer of Title Number
REAL ESTATE TRANSACTION 1st QUARTER/2011 DSEC No. 1
Table 3 - Average transaction price per square metre of residential units in selected districts by year of building completion
MOP
2010 2011
Q1 Q4 Q1
Year of building completion District
Overall 2000 and after
1990 to 1999
1989 and before
Total of Macao 26 845 33 397 38 261 49 314 30 738 23 821
Macao Peninsula 26 674 29 664 37 159 48 141 30 137 23 757
Areia Preta e Iao Hon 19 812 22 519 28 581 20 804 32 795 24 879
NATAP 32 307 32 314 43 266 46 028 31 100 ~
Doca do Lamau 28 151 34 437 36 867 38 996 33 179 24 612 Horta e Costa e Ouvidor Arriaga 25 261 29 111 32 437 40 033 36 757 24 185 ZAPE 16 011 24 399 28 915 40 633 25 979 32 629 NAPE e Aterros da Baía da Praia Grande 59 793 51 835 67 891 76 118 33 825 35 454 Barra / Manduco 16 556 27 491 30 973 48 927 26 959 20 226
Taipa 27 342 39 876 33 402 36 837 31 677 27 744
Jardins do Oceano e Taipa Pequena 27 893 28 837 35 102 ~ 35 102 ~ Baixa da Taipa 27 255 41 527 31 750 31 637 31 903 29 524
Coloane 25 778 64 398 67 484 72 160 29 877 ~
~ No figure provided
Graph 2 - Average transaction price per square metre of residential units by usable area
55 176 48 008
54 379
31 347
35 868 39 005
40 225
30 065
25 597
35 110
23 210
20 171 10 000
20 000 30 000 40 000 50 000 60 000
Q1 2010
Q2 Q3 Q4 Q1
2011 MOP
≧ 150 m2 100 - 149.9 m2 50 - 99.9 m2 < 50 m2
price amounted to MOP51,969 per square metre in the first quarter of 2011, up by 5.4% from the previous quarter. The average price of those in the Macao Peninsula increased by 14.0% to MOP49,767 per square metre. On the contrary, the average price of those in Taipa decreased by 24.6% to MOP39,831 per square metre, and the price of those in Coloane went down by 1.1% to MOP72,160 per square metre.
Table 4 - Average transaction price per square metre of residential units under Intermediate Transfer of Title
MOP
2010 2011 District
Q1 Q4 Q1
Total of Macao 44 865 49 298 51 969
Macao Peninsula 46 440 43 662 49 767
NATAP 40 825 36 014 47 596
Doca do Lamau 36 783 43 422 39 668
NAPE e Aterros da Baía da Praia Grande 83 155 67 175 82 459
Taipa 38 043 52 842 39 831
Baixa da Taipa 35 239 52 497 31 574
Coloane ~ 72 973 72 160
~ No figure provided
Industrial units and Office units
The average transaction price of industrial units continued to rise in the first quarter of 2011, up by 31.3% quarter-to-quarter to MOP10,572 per square metre.
Table 5 - 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
1 10 572 14 207 10 263
REAL ESTATE TRANSACTION 1st QUARTER/2011 DSEC No. 1
In the first quarter of 2011, the average price of office units increased by 2.3% quarter-to-quarter to MOP27,700 per square metre.
Table 6 - 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
1 27 700 27 393 30 819 #
# Confidencial data
III. REAL ESTATE CONTRACTS AND MORTGAGE CONTRACTS
There were 3,181 cases of real estate sale and purchase contracts made in private and public notary offices in the first quarter of 2011, down by 2.6% quarter-to-quarter, while the number of units rose by 10.6% to 4,382.
In the first quarter of 2011, there were 2,570 cases of mortgage contracts signed. Among them, 2,016 were residential mortgages, a decrease of 5.7% quarter-to-quarter.
Table 7 - 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
1 3 181 4 382 2 570 2 543 2 016 249 278 27 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 the payment of Stamp Duty.
7. Average transaction price of building units covers building units with Stamp Duty paid in the reference period, excluding gift of property, inheritance, transfer of partial ownership of property, etc. cases bearing peculiar transaction prices.
8. Compilation of the average transaction price of office units only covers office buildings with ten storeys or higher.
9. Sale and purchase contracts and mortgage contracts of building units signed at private or public notary offices only cover units that have completed the property registration procedure.
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 16A. Average price per square metre of residential units purchased and sold under intermediate transfer of title, 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 scheduledfor re-evaluation)
17. Average price per square metre of residential units purchased and sold, by year of building completion per Stamp Duty record
17A. Average price per square metre of residential units purchased and sold under intermediate transfer of title, 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
REAL ESTATE TRANSACTION 1st QUARTER/2011 DSEC No. 1
18A. Average price per square metre of residential units purchased and sold under intermediate transfer of title, 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
19A. Average price per square metre of industrial units purchased and sold under intermediate transfer of title, by year of building completion per Stamp Duty record
20. Average price per square metre of office purchased and sold, by major district per Stamp Duty record
20A. Average price per square metre of office purchased and sold under intermediate transfer of title, 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
The following tables are available in the Monthly Bulletin of Statistics of DSEC Table 40 - Buildings completed – private sector
Table 41 - Units and area of buildings completed – private sector Table 42 - Buildings started – private sector
Table 43 - Units and area of buildings started – private sector
Table 44 - Units and gross floor area of buildings completed – private sector Table 45 - Units and gross floor area of buildings started – private sector Table 46 - Building units sold as per Stamp Duty record
Table 47 - Value of building units sold as per Stamp Duty record
Table 48 - Number of buyers of transacted building units by end-use of unit and buyer's status as per Stamp Duty record
Table 49 - Value of transacted building units by end-use of unit and buyer's status as 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 statistical information can be obtained from the Documentation and Information Centre of the Statistics and Census Service of Macao:
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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