Housing prices continued to surge last year, racking up MOP100,156 (US$12,519) per square metre - a growth of 21 per cent compared to the average cost of MOP82,776 per square metre in 2013, the latest data released last Friday by the Financial Services Bureau (DSF) reveals.
According to DSF, total transactions in 2014, by contrast, plunged 36 per cent year-on-year, reaching only 7,218 transactions compared to the 11,306 transactions of 2013. Of all transactions, those on the Macau Peninsula accounted for the largest proportion at 5,752 of the total. Residential flats in Taipa and Coloane accounted for 1,151 and 315 of the total, respectively. In fact, although buyers had to pay more for a flat in 2014, it did not mean that they could upscale. According to DSF data, the average net floor area of the flats purchased in 2014 shrunk to 69 square metres from the 74 square metres of 2013.
Housing prices of December lower than year average
Meanwhile, the average housing price in December 2014 reached MOP96,411 per square metre. Despite being lower than the average price of the whole of 2014, it had increased by 5 per cent compared to the average housing cost of MOP91,737 per square metre in November 2014. In addition, the number of transactions, which rebounded in November, dropped by 12 per cent month-on-month in December, reaching only 418.
Furthermore, the buildings that are still under construction cost more than the completed ones in the month. Flats under construction cost on average some MOP145,444 per square metre while completed buildings cost MOP83,037 per square metre.
In terms of area, housing in Coloane is the most expensive, topping MOP138,587 per square metre, followed by Taipa at MOP119,941 per square metre. Residential flats on the Peninsula are, on average, the cheapest, costing MOP85,263 per square metre in December 2014, according to DSF.