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Country Report Macau

Description:
On August 17th the Statistics and Census Service published data showing that sales transactions of residential property were up by 67.3% quarter on quarter in the second quarter of 2015, to 1,864 units, with a value of MPtc11.7bn (US$1.5bn), up by 92.8% compared with the first quarter.

Macau's property market rebounded strongly in April-June after three consecutive quarter-on-quarter declines in transaction volumes. The average price per square metre of usable area for residential property stood at MPtc95,345 (US$11,918) in the second quarter, up by 6.5% quarter on quarter. The end of the gambling-fuelled boom and concerns about the sustainability of high house prices had previously depressed transactions during the economic downturn, but the latest upturn may suggest some returning confidence in the economy's prospects. Employment levels and private consumption spending have remained high since the economy fell into recession in late 2014. In the longer term, prices are also likely to be supported by space constraints in the territory.

Non-residential property transactions have increased too: total property sales were up by 63.7% quarter on quarter, to 3,083 units, with a value of MPtc18bn, up by 78.5% compared with January-March. Prices for office units rose by 1.9% quarter on quarter to an average of MPtc118,346 per sq metre. The property market in Macau will remain extremely expensive, posing a significant deterrent for businesses thinking of setting up in the territory.
 
Contents:
Country Report Macau

Property price recovery supports housing construction
Event
Analysis
Impact on the forecast
 
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