Statistics and Census Service
PRIVATE SECTOR CONSTRUCTION AND REAL ESTATE TRANSACTION
2N D QUARTER/2008
No. 2
Official Statistics. Reproduction of these data is allowed provided the source is quoted.
Statistics and Census Service
17th floor, “Dynasty Plaza” Bldg., 411- 417 Alameda Dr. Carlos d’Assumpção, Macao Tel: 8399 5311 Fax: 2830 7825 Printed in August 2008
E-mail: info@dsec.gov.mo Website: www.dsec.gov.mo
I. PRIVATE SECTOR CONSTRUCTION
In the second quarter of 2008, construction of 2 new buildings with a gross floor area of 24,159 m² has been started. Upon completion, these buildings will provide 14 units, 139 parking spaces for cars and 87 parking spaces for motorcycles.
The number of buildings completeda in the second quarter of 2008 increased to 10 and the gross floor area totalled 31,210 m², providing altogether 144 units, of which 128 were residential units, including 49 two-bedroom and 73 three-bedroom apartments; in addition, 75 parking spaces for cars and 40 parking spaces for motorcycles were available.
Table 1. Principal indicators of construction and completion of buildings
Construction of new buildings Completion of buildings End-use
Q2/2007 Q1/2008 Q2/2008 Q2/2007 Q1/2008 Q2/2008
Number of buildings – total 17 12 2 12 5 10
Residential; residential and commercial 8 7 1 6 3 8
Commercial 3 1 - 1 1 1
Office - 1 - 1 - -
Industrial - - - - - 1
Others 6 3 1 4 1 -
Gross floor area (m²) - total 788 875 104 435 24 159 140 700 89 186 31 210
Residential 93 831 42 758 791 6 613 2 223 16 029
Commercial 83 091 2 176 204 1 905 8 106 2 378
Office - 23 688 - 1 189 - -
Industrial - 4 392 - 8 216 - 8 339
Others 611 953 31 421 23 164 122 778 78 856 4 464
Number of units - total 938 282 14 122 26 144
Residential 897 251 10 76 21 128
Commercial 30 26 2 30 4 11
Office - 1 - 13 - -
Industrial - - - - - 1
Others 11 4 2 3 1 4
Parking spaces - total
For cars 2 658 467 139 415 264 75
For motorcycles 324 346 87 49 64 40
- Absolute value equals zero
aIncluding extended constructions.
II. REAL ESTATE TRANSACTION
1. REAL ESTATEb CONTRACTS MADE AND MORTGAGE
There were 3,064 cases of real estate sale and purchase contracts made in the second quarter of 2008, involving 4,022 units that amounted to MOP4.11 billion, down by 7.8% and 2.9% respectively over the preceding quarter.
The total value of mortgage loans amounted to MOP5.45 billion, down notably by 77.2% compared with the preceding quarter.
Table 2. Real estate transactions and mortgage
Mortgage credits
Real estate transactions Total Involving actual property transaction Year Quarter
Number of units
Value (MOP million)
Number of units
Value (MOP million)
Number of units
Value (MOP million) 2007 1 5 940 4 095 3 855 6 915 2 401 1 835
2 4 848 3 906 3 096 53 422 1 756 1 779 3 3 783 4 089 2 508 26 940 1 356 1 362 4 4 516 6 793 3 791 9 324 1 557 3 071 2008 1 4 364 4 238 4 097 23 870 1 587 2 065 2 4 022 4 114 3 988 5 446 1 616 1 987
2. TRANSACTION OF BUILDING UNITSc AS PER RECORD OF STAMP DUTY
2.1. Transaction of building units
Sale and purchase of building units with stamp duty paid was 7,339 in the second quarter of 2008, and the total value amounted to MOP10.99 billion; the number of units rose by 12.6% while the amount involved dropped by 13.6% over the preceding quarter. Among these units, 49.3% (3,620 units valued at MOP7.62 billion) were new unitsd that were within the property tax exemption period.
The majority (4,075 units valued at MOP9.2 billion) of these transactions were residential units that accounted for 55.5% of the total number of building units; besides, there were 550 commercial units, 152 offices and 54 industrial units.
Among these residential units, 3,155 units were situated in the Macao Peninsula, 902 in Taipa Island and 18 in Coloane Island. Analyzed by transaction price, number of residential units were sold for over MOP4,000,000 totalled 661 (16.2% of the total); 1,002 units (24.6%) for over MOP2,000,000 to
b In the analysis, the term “Real Estate” is classified according to the type of registration. Every unit of a property is considered as a separate item real estate if individually registered; otherwise, the whole property is counted as one.
c Including residential, commercial, office and industrial unit, parking space, hotel and other unit.
d New building: refers to building units entitled to property tax exemption as stipulated in a) and b) of Clause 1 of Article 9 of the Regulation on Urban Property Tax currently in force, as well as separate units completed for up to four years. According to the aforementioned Regulation, the followings are considered as new building: 1) In the Macao Peninsula, residential and/or commercial units completed for up to four years, and up to five years for industrial units. 2) In the Islands, residential and/or commercial units completed for up to six years, and up to ten years for industrial units.
No.2 DSEC 2 QUARTER/2008 REAL ESTATE TRANSACTION
MOP4,000,000; 864 units (21.2%) for over MOP1,000,000 to MOP2,000,000; and 1,548 units (38.0%) for MOP1,000,000 or less.
Table 3. Transaction of building units by end-use as per record of stamp duty
2007 2008 End-use
Q2 Q1 Q2
Number of units 9 017 6 518 7 339
Residential 6 202 4 563 4 075
Commercial 518 259 550
Office 262 139 152
Industrial 61 68 54
Others 1 974 1 489 2 508
New buildings - subtotal 3 579 2 748 3 620 Old buildings - subtotal 5 438 3 770 3 719
Value (MOP million) 12 891 12 715 10 986
Residential 11 117 10 985 9 203
Commercial 709 590 788
Office 370 231 322
Industrial 81 142 91
Others 614 768 582
New buildings - subtotal 8 757 8 976 7 618 Old buildings - subtotal 4 134 3 740 3 368
In the second quarter of 2008, 3,147 units (42.9% of the total) were purchased and sold under Intermediate Transfer of Titlee, up by 35.5% over the previous quarter; the respective total value dropped by 17.3% to MOP6.95 billion. The majority of the units were situated at the districts of NATAP and Baixa da Taipa, sharing 30.3% and 25.9%, respectively.
Graph 1. Transaction of building units as per record of stamp duty
eIntermediate Transfer of Title is 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.
9 017
6 518
7 339
3 147 2 323
3 098
0 2 000 4 000 6 000 8 000 10 000 12 000
Q2 2006
Q3 Q4 Q1
2007
Q2 Q3 Q4 Q1
2008
Q2
Total Intermediate trans fer of title
Number
2.2. Average transaction price of building units
Residential units
In the second quarter of 2008, the overall average transaction price of residential units amounted to MOP24,741 per square meter of usable area, up slightly by 0.6% over the previous quarter. The average transaction price of those in the Macao Peninsula rose by 22.7% to MOP25,198 per square meter, but the average price of those in Taipa Island decreased by 28.8% to MOP23,553 per square meter.
Analyzed by year of completion, the average transaction price was MOP35,526 per square meter for residential units completed in 2000 and after, a decrease of 6.9% over the preceding quarter. The average price for those completed in 1990-1999 stood at MOP17,317 and the price for those completed in 1989 and before was MOP12,055, each up by 11.1%.
Table 4. Average transaction price of residential units by selected districts
MOP/m2 2007 2008
Q2 Q1 Q2
Year of building completion District f
Residential units 2000 and after 1990 to 1999 1989 and before
Macao 19 313 24 583 24 741 35 526 17 317 12 055
Macao Peninsula 18 359 20 532 25 198 39 093 16 553 11 984
Areia Preta e Iao Hon 10 809 11 775 15 052 21 072 13 789 9 638
NATAP 29 398 26 348 39 583 48 126 15 489 ~
Doca do Lamau 26 362 26 874 34 334 39 923 12 966 11 406
Barca 9 269 10 413 12 997 21 166 13 765 11 036
Patane e São Paulo 11 593 12 935 20 374 23 954 13 009 9 413
NAPE e Aterros da Baía da Praia Grande 35 240 39 232 36 851 51 544 26 761 ~
Barra / Manduco 9 016 9 503 11 071 ~ 13 508 9 405
Taipa Island 21 873 33 058 23 553 27 355 18 319 21 282
Jardins do Oceano e Taipa Pequena 17 545 21 972 21 251 ~ 21 450 ~
Baixa da Taipa 24 708 30 658 23 765 26 996 18 020 21 316
Coloane Island 17 048 16 938 21 713 ~ 21 713 ~
~ No figure provided
Analyzed by size of the units, the average transaction price for residential units with an area of 150 square meters and over was MOP31,399, down by 26.9% compared with the first quarter of 2008. For those with an area of less than 50 square meters, the average price went up by 10.9% to MOP13,791.
fThe division of districts is solely for statistical purposes.
No.2 DSEC 2 QUARTER/2008 REAL ESTATE TRANSACTION
Graph 2. Average transaction price of residential units by size
r Revised figures
With regard to the transaction of residential units under Intermediate Transfer of Title, the overall average transaction price amounted to MOP37,268 per square meter, down by 6.6% over the previous quarter. The average price of residential units in the Macao Peninsula increased by 15.2% to MOP40,808 per square meter; however, the average price of those in Taipa Island decreased by 37.1% to MOP28,434 per square meter.
Table 5. Average transaction price of residential units under Intermediate Transfer of Title
MOP/m2
2007 2008 District
Q2 Q1 Q2
Macao 28 937 39 910 37 268
Macao Peninsula 37 435 35 428 40 808
NATAP 38 889 30 720 48 484
Doca do Lamau 34 030 36 951 50 337
NAPE e Aterros da Baía da Praia Grande 56 361 63 871 48 893
Taipa Island 25 592 45 196 28 434
Baixa da Taipa 31 270 38 942 27 304
42 978
24 275
31 399 26 420
32 096 35 313
23 996 23 161
19 095
13 791 12 430
11 370 5 000
15 000 25 000 35 000 45 000 55 000
Q2 2007
Q3 Q4 Q1 2008
Q2 MOP/m2
150 m and over2 100 - 149.9 m2 50 - 99.9 m2 less than 50 m2 r
Industrial units and Office units g
In the second quarter of 2008, the average transaction price of industrial units was MOP5,919 per square meter, up by 3.6% over the preceding quarter.
Table 6. Average transaction price of industrial units by year of building completion
MOP/m2 Year of building completion
Year Quarter Industrial units
From 1990 to 1999 1989 and before
2007 1 4 226 5 087 3 876
2 4 152 4 407 4 047
3 5 935 6 646 4 114
4 6 697 8 606 5 972
2008 1 5 715 6 011 5 661
2 5 919 6 447 5 690
Meanwhile, the average transaction price of office units went up by 11.4% over the previous quarter to MOP24,130 per square meter. The average price of office units at the Baixa de Macau district amounted to MOP28,861 per square meter and that at the ZAPE district was MOP24,252 per square meter.
Table 7. Average transaction price of office units by selected districts
MOP/m2
2007 r 2008
District
Q1 Q2 Q3 Q4 Q1 Q2 Macao 16 018 19 539 22 145 21 877 21 665 24 130 ZAPE 21 372 17 605 19 779 21 227 19 785 24 252 NAPE e Aterros da Baía da Praia Grande 14 565 21 246 21 214 23 283 21 380 23 818 Baixa de Macau 21 066 18 273 26 607 22 047 31 320 28 861
r Revised figures
g Only covers office buildings with ten storeys or higher.
No.2 DSEC 2 QUARTER/2008 REAL ESTATE TRANSACTION
The following statistical tables are available for download from our website:
1. Construction of residential units started in the private sector by type of unit 2. Completion of residential units in the private sector by type of unit
3. Types of 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 value of credit and type of real estate
10. Building units transactions with mortgage credits and value of mortgage, by value of credit and end-use of building units
11. Real estate transactions by value of real estate, legal nature and place of residence or headquarters of buyer and seller
12. Real estate mortgages by value of credit and type of real estate
13. Real estate mortgages by value of credit and end-use of building units
14. Real estate mortgages not involving real estate transactions by value of credit, location and type of real estate
15. Real estate mortgages by value of credit, legal nature and place of residence or headquarters of borrower
16. Average transaction price of residential units by district
16A. Average transaction price of residential units under intermediate transfer of title by district
16B. Average transaction price of residential units by district (not including intermediate transfer of title and those that have been scheduled for value re-evaluation)
17. Average transaction price of residential units by district and year of building completion 17A. Average transaction price of residential units under intermediate transfer of title by district and year
of building completion
17B. Average transaction price of residential units by district and year of building completion (not including intermediate transfer of title and those that have been scheduled for value re-evaluation) 18. Average transaction price of residential units by unit size
18A. Average transaction price of residential units under intermediate transfer of title by unit size
18B. Average transaction price of residential units by unit size (not including intermediate transfer of title and those that have been scheduled for value re-evaluation)
19. Average transaction price of industrial units by year of building completion
19A. Average transaction price of industrial units under intermediate transfer of title by year of building completion
19B. Average transaction price of industrial units by year of building completion (not including intermediate transfer of title and those that have been scheduled for value re-evaluation)
20. Average transaction price of office units by district
20A. Average transaction price of office units under intermediate transfer of title by district
20B. Average transaction price of office units by district (not including intermediate transfer of title and those that have been scheduled for value re-evaluation)
Annex 1. Average transaction price of residential units by district 2004-2006
Annex 1A. Average transaction price of residential units under intermediate transfer of title by district 2004-2006
Annex 1B. Average transaction price of residential units by district (not including intermediate transfer of title and those that have been scheduled for value re-evaluation) 2004-2006
Annex 2. Average transaction price of residential units by district and year of building completion 2004-2006
Annex 2A. Average transaction price of residential units under intermediate transfer of title by district and year of building completion 2004-2006
Annex 2B. Average transaction price of residential units by district and year of building completion (not including intermediate transfer of title and those that have been scheduled for value re-evaluation) 2004-2006
Annex 3. Average transaction price of residential units by unit size 2004-2006
Annex 3A. Average transaction price of residential units under intermediate transfer of title by unit size 2004-2006
Annex 3B. Average transaction price of residential units by unit size (not including intermediate transfer of title and those that have been scheduled for value re-evaluation) 2004-2006
Annex 4. Average transaction price of industrial units by year of building completion 2004-2006
Annex 4A. Average transaction price of industrial units under intermediate transfer of title by year of building completion 2004-2006
Annex 4B. Average transaction price of industrial units by year of building completion (not including intermediate transfer of title and those that have been scheduled for value re-evaluation) 2004-2006
Annex 5. Average transaction price of office units by district 2004-2006
Annex 5A. Average transaction price of office units under intermediate transfer of title by district 2004-2006
Annex 5B. Average transaction price of office units by district (not including intermediate transfer of title and those that have been scheduled for value re-evaluation) 2004-2006
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 record of stamp duty
Table 47 - Value of building units sold as per record of stamp duty
Table 48 - Number of buyers of transacted building units by buyers' status according to stamp duty records Table 49 - Value of transacted building units by buyers' status according to stamp duty records
Table 53 - Deeds notarized by type
Table 54 - Transactions of real estate by declared value Table 55 - Mortgage loans by credit value
No.2 DSEC 2 QUARTER/2008 REAL ESTATE TRANSACTION
SOURCES – Lands, Public Works and Transport Bureau Finance 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:
17th floor, "Dynasty Plaza" Bldg.,
411-417 Alameda Dr. Carlos d´Assumpção, Macao
Tel. : 8399 5311 Fax : 2830 7825
E-mail: info@dsec.gov.mo Website: www.dsec.gov.mo
