Residential property price index dips 0.5%

Macao’s overall residential property price index for August – October decreased by 0.5 per cent over the previous period (July – September 2020) to 267.6, the Statistics and Census Bureau (DSEC) said in a statement on Monday.

The index for the Macao peninsula (267.9) fell by 0.7 per cent, while that for Taipa and Coloane (266.5) rose by 0.4 per cent, the statement said.

The index for existing residential units (287.2) decreased by 0.8 per cent from the previous period, with the indices for those on the peninsula (280.8) and Taipa & Coloane (313.4) dropping by 0.8 per cent and 0.7 per cent respectively, the statement noted.

Analysed by year of building completion, according to the statement, the indices for residential units completed between six and 10 years ago and for those built more than 20 years ago went down by 1.0 per cent and 0.9 per cent respectively, whereas the index for residential units completed within the past five years dropped by 0.6 per cent. Meanwhile, the index for pre-sale residential units (284.5) increased by 1.2 per cent.

The indices for residential units with a usable floor area between 50 and 74.9 square metres and for those with an area between 75 and 99.9 square metres decreased by 1.4 per cent and 0.4 per cent respectively, while the index for those with a floor area of 100 square metres and above went up by 3.5 per cent, the statement said.

(The Macau Post Daily/Macao News)
Photo by Macau Photo Agency