Property Outlook In Macau: Sales Dip By 18.1 Per Cent Year-on-year
While that's a concern, the silver lining is that the average transaction price of residential units rose by 1.25 per cent during 2020, up from the previous year?s 3.04 per cent fall.
The post Property Outlook In Macau: Sales Dip By 18.1 Per Cent Year-on-year appeared first on LUXUO.
In an April 2021 Global Property Guide report about Macau’s housing market stabilisation, it was noted that house prices were up 1.25% during 2020. Credit: quoteddata.com
It is a sign of things to come in Macau’s residential property market. According to Gregory Ku Ka Ho, managing director at JLL Macau, the total number of residential property sales in Macau shrunk by 18.1 per cent year-on-year, indicating a ?significant? contraction, reported Macao News.
Based on the December 2020 news, 6,184 residential property sales transactions were captured, along with 886 presale transactions. Ku had hoped for the total number of residential sales transactions to be around 6,400 in 2020.
READ MORE: Top 4 Post-Pandemic Residential Design Trends in 2021
Other findings also revealed that two-bedroom units in 20 to 30-year-old buildings were in huge demand with young, first-time buyers as they were eligible to apply for mortgages of up to 80 per cent to purchase a unit priced at no more than MOP 8 million (approx. US$1 million).
In the luxury residential property segment, there was a notable drop in prices. Case in point: a villa situated near Penha Hill was sold at 40 per cent lower than its li...
The post Property Outlook In Macau: Sales Dip By 18.1 Per Cent Year-on-year appeared first on LUXUO.
In an April 2021 Global Property Guide report about Macau’s housing market stabilisation, it was noted that house prices were up 1.25% during 2020. Credit: quoteddata.com
It is a sign of things to come in Macau’s residential property market. According to Gregory Ku Ka Ho, managing director at JLL Macau, the total number of residential property sales in Macau shrunk by 18.1 per cent year-on-year, indicating a ?significant? contraction, reported Macao News.
Based on the December 2020 news, 6,184 residential property sales transactions were captured, along with 886 presale transactions. Ku had hoped for the total number of residential sales transactions to be around 6,400 in 2020.
READ MORE: Top 4 Post-Pandemic Residential Design Trends in 2021
Other findings also revealed that two-bedroom units in 20 to 30-year-old buildings were in huge demand with young, first-time buyers as they were eligible to apply for mortgages of up to 80 per cent to purchase a unit priced at no more than MOP 8 million (approx. US$1 million).
In the luxury residential property segment, there was a notable drop in prices. Case in point: a villa situated near Penha Hill was sold at 40 per cent lower than its li...
-------------------------------- |
|
French Food Friday - Chocolate Tart From François Perret at the Ritz Paris
04-05-2024 04:55 - (
fashion )
Verdy and Swatch Is an Artistic Collaboration Made in Watchmaking Heaven
04-05-2024 04:06 - (
luxury )