The residential property price index for the period between December 2023 to February 2024 dropped by 0.9 percent in comparison to the previous survey period, which spanned November 2023 to January 2024. That’s according to the Statistics and Census Service (also known by its Portuguese initials DSEC).
According to the bureau, the index in the peninsula was 229.2 – a drop of 6.6 percent year-on-year
Meanwhile, Taipa and Coloane registered an index figure of 230.2, a decrease of 0.7 percent over the last period or a dip of 8.7 percent in comparison to the corresponding time frame last year.
[See more: Macao’s property price index dropped almost four percent, year-on-year]
The overall index for the SAR was 229.4, a year-on-year fall of 6.6 percent and the eighth consecutive decline in reporting periods since last April.
This continuing downward spiral of the SAR’s residential property prices has realtors worried.
Industry professionals have called for the government to help stimulate the market by completely dispensing with market curbs, originally designed to combat speculation, and by relaxing the barriers in the investment residency scheme.
