Sales of “Residencia Macau” drop by 25 pct

2013-10-30

From：Macau Daily Times

The trading volume of secondhand apartments in the “Residencia Macau” flats has decreased by 25 percent to 12 deals in the third quarter. The building is located in the northern district, near the future HK-Zhuhai-Macau Bridge. According to property agent Centaline, the market was affected after the enactment of the presale law. Two cases of secondhand transactions of “Residencia Macau” flats were recorded in July and four in August. Transactions rebounded marginally last month to six, with the average price increasing by two percent to HKD8147 per square foot. In total, there were 12 transactions of secondhand flats in the housing development from July to September, a 25 percent decrease compared with last quarter’s 16 cases. However, the average price per square foot went up by eight percent from the previous quarter.
Rental price also recorded a slight increase of one percent, rising to HKD10.68 per square foot, according to the estate agency. There were 27 leasing agreements reached in the third quarter, an amount similar to that recorded from April to June.  A new building with 55 serviced apartments was launched this month. With areas measuring from 500 square feet to some 1200 square feet, the property agent said that these apartments were sold within three days.

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