The overall residential property index registers a slight decrease Link copied
The latest figures from the Statistics and Census Service show a subdued market as Macao continues to recover from the effects of the Covid-19 pandemic.
Macao’s overall residential property price index dipped slightly for the three months ending in January, according to the latest figures from the Statistics and Census Service (DSEC). It fell 0.8 percent compared to the period from October to December 2022 to stand at 245.2.
The index for the Macao Peninsula dropped by 1.3 percent to 243.9, while that for Taipa and Coloane rose by 1.1 percent to 250.4.
The indices for residential units in buildings 5 years old or less, and in those over 20 years old, fell by 2.0 percent and 0.7 percent respectively, while the index for those in buildings between 6 and 10 years old grew by 0.8 percent. Meanwhile, the index for pre-sale residential units stayed flat at 287.0.
[See more: Experts say the market isn’t ready for Macau New Neighbourhood]
Residential units with a usable floor area between 50 and 74.9 square metres saw a 1.4 percent decrease, while the index for those with a floor area between 75 and 99.9 square metres decreased by 0.9 percent. Properties with a floor area of 100 square metres and oversaw a 0.6 percent increase.
Compared to the period from November 2021 to January 2022, the overall residential property price index in Macao fell by 7.4 percent, the DSEC said.
The territory’s index fell 4.8 percent year-on-year in 2022.