Quarterly Summary on Macau Property Transaction

TRANSACTION OF BUILDING UNITS AS PER RECORD OF STAMP DUTY

Sale and purchase of building units with stamp duty paid for the third quarter of 2008 dropped significantly by 42.4% quarter-to-quarter to 4,229, and the total value amounted to MOP7.07 billion,down by 35.7%. Among these units, 51.7% (2,188 units valued at MOP5.04 billion) were new unitsd that were within the property tax exemption period.The majority (2,335 units valued at MOP5.86 billion) of these transactions were residential units that accounted for 55.2% of the total number of building units; the number of residential units and value decreased by 42.7% and 36.3% respectively over the preceding quarter. In addition, there were 288commercial units, 148 offices and 37 industrial units. Among these residential units, 1,976 units were situated in the Macao Peninsula, 346 in Taipa and 13 in Coloane. Analysed by transaction price, number of residential units sold for over MOP4,000,000 totalled 522 (22.4% of the total); 402 units (17.2%) for over MOP2,000,000 to MOP4,000,000; 558 units (23.9%) for over MOP1,000,000 to MOP2,000,000; and 853 units (36.5%) for MOP1,000,000 or less.

In the third quarter of 2008, 1,980 units (46.8% of the total) were purchased and sold under Intermediate Transfer of Title with a total value of MOP4.66 billion, down by 37.1% and 32.9% over the previous quarter. The majority of the units were situated at the districts of NATAP and Horta e Costa e Ouvidor Arriaga, sharing 48.5% and 36.3%, respectively.

Average transaction price of residential units in selected districts

MOP/m2

In the third quarter of 2008, the overall average transaction price of residential units amounted to MOP23,819 per square meter of usable area, down by 3.7% quarter-to-quarter. The average transaction price of those in Taipa decreased by 6.2% to MOP22,085 per square meter, and the average price of those in the Macao Peninsula fell by 5.1% to MOP23,911 per square meter.

**Data provided by DSEC