Housing unit sales drop by 58 pct

2013-12-12

From：Macau Daily Times

The number of housing units sold in Macau during October has dropped by 58 percent compared to last year. According to the Portuguese news agency Lusa, the average price per square meter remains high, having increased by 10.5 percent.
793 housing units were sold, with the average price per square meter rising to MOP80,412. In October 2012, 1,890 housing units were sold.
In the Macau peninsula, 613 housing units were purchased. 158 were sold in Taipa and 22 apartments were purchased in Coloane Island, with the average price per square meter rising by 7 percent.
194 more housing units were sold in October than in September.
Despite the drop in sales, the price per square meter is still high. In the whole region, there was a global price increase of 10.5 percent. When compared to the same month last year, prices per square meter rose by 11 percent in the Macau peninsula, 6.35 percent in Taipa, and 22 percent in Coloane.
Housing is one the most worrying issues in Macau, since rental and purchase prices have risen immensely in recent years. No measures have been taken to control the property market, and landlords are not obliged to obey any criteria when renting houses.
The government has recently stated that it does not intend to control the real estate market, with the Chief Executive saying that “this is a matter of demand and supply.”

Copyright@Macau Daily Times