THE M3: LA SCALA STAMP DUTY REFUND; 2Q CONSTRUCTION AND REAL ESTATE TRANSACTION DATA

The Macau Metro Monitor, August 16, 2012

GOVERNMENT ALLOWS SPECIAL STAMP DUTY REFUND ON LA SCALA FLATS Macau News

The Financial Services Bureau (DSF) is allowing buyers of La Scala apartments to get back their special stamp duty (SSD) after announcing that it would annul the land-lease agreement with the residential project’s developer.

PRIVATE SECTOR CONSTRUCTION AND REAL ESTATE TRANSACTIONS FOR THE 2ND QUARTER 2012 DSEC

A total of 7,845 building units exchanged hands at a price of  MOP31.05 billion in 2Q12 as per Stamp Duty record, up by 1.2x and 1.7x,  respectively QoQ. Of those units, 5,555 were residential units selling for MOP23.39 billion, up by 1.4x and 1.8x, respectively. In 1H12, there were 11,437 building units traded hands at MOP42.76 billion, down by 43.8% and 24.4% respectively YoY. 

The average transaction price of all residential units amounted to MOP55,427 per square metre of usable area, up by 21.9% QoQ. The average price of those in the Macao Peninsula (MOP47,461) and Taipa (MOP66,804) increased by 15.0% and 38.9%, respectively QoQ, while the average price of those in Coloane (MOP78,197) decreased by 6.0%.

In 2Q, 3,531 cases of real estate sale and purchase contracts were made, up by 77.4% QoQ, and the number of units rose by 34.2% to 4,358. In addition, there were 2,631 cases of residential mortgage contracts signed, an increase of 89.6% QoQ.