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Macao’s property market in a word: flat

Despite a tourism-led economic recovery, the residential property sector continues to underwhelm according to the latest numbers.

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Despite a tourism-led economic recovery, the residential property sector continues to underwhelm according to the latest numbers.

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PUBLISHED

UPDATED: 21 Dec 2023, 11:30 pm

Macao’s property sector remains lacklustre according to the latest data from the Statistics and Census Service.

The overall residential property price index for the period from March to May 2023 increased to 251.4 – a rise of just 0.1 percent over the previous period (February to April 2023). 

The index for Taipa and Coloane rose by 0.6 percent to 258.1 while that for the Macao Peninsula fell by 0.1 percent to 249.7. 

[See more: Macau New Neighbourhood flats will go on sale before the end of the year]

Smaller properties fared worse. The indices for residential units with a usable floor area of 100 square metres or more, and for those with a floor area between 75 and 99.9 square metres went up by 2.6 and 0.5 percent respectively, while that for those with a floor area between 50 and 74.9 square metres dropped by 0.9 percent.

Year on year, the overall residential March to May property price index fell by 3.1 percent, with the indices for the Macao Peninsula and Taipa and Coloane dropping by 3.7 and 0.4 percent respectively.

Analysts say Macao’s property market continues to suffer in spite of a touted economic recovery. In 2022, average residential transaction prices declined by 8.33 percent from 2021.

 

UPDATED: 21 Dec 2023, 11:30 pm

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