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Macao house prices fall slightly

Older buildings are marginally less expensive, and even the price of pre-sale residential units has dropped, according to official survey.

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Buying a home in Macao became a bit cheaper over the winter as prices fell by 1.7 per cent across the board.

The indices for the peninsula (262.8) and Taipa/Coloane (264.5) dropped by 1.7 per cent and 1.5 per cent respectively, according to the Statistics and Census Bureau (DSEC) which compared prices between last December and February with those for last November to January.

The residential property price index for existing units (282.3) went down by 1.4 per cent; the index for those in the peninsula (274.1) fell by 1.9 per cent while the index for those in Taipa/Coloane (316.6) rose by 0.5 per cent. 

Analysed by age, the indices for residential units in buildings over 20 years old and for those of five years old or less dropped by 2.3 per cent and 0.3 per cent respectively; the index for those between six and 10 years old rose by 1.1 per cent. Meanwhile, the index for pre-sale residential units (284.6) declined by 1.7 per cent, The Macau Post Daily reported.

The indices for residential units with a usable floor area between 50 and 74.9 square metres and for those with a floor area of less than 50 square metres fell by 2.2 per cent and 1.2 per cent respectively, while the index for residential units with a floor area of 100 square metres or more remained unchanged from the previous survey period.

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