Average transaction price of Macao's residential unit for the first quarter of 2008 reached 24,583 patacas (3,073 U.S. dollars) per square meter of usable area, a slight increase of 0.1 percent over the fourth quarter of last year, according to figures released Friday by Macao's Statistics and Census Service (DSEC).

The figures showed that while price of the residential unit was on the rise in the period, average transaction price of local industrial units and office dropped by 14.7 percent and 8.2 percent over the previous quarter, which respectively stood at 5,715 patacas (714 U.S. dollars) and 21,665 patacas (2,708 U.S. dollars) per square meter of usable area.

In the first three months of this year, some 3,189 cases of real estate sale and purchase contracts were made in the city, and the total value of mortgage loans amounted to 23.87 billion patacas (2.98 billion U.S. dollars).

In addition, a total of five buildings with a gross floor area of 89,186 square meters were completed in the period, altogether providing 26 units to the local market, while the construction of 12 new buildings, with a gross floor area totaling 104,435 square meters, was also started, and upon completion, they will provide 282 units.