Macao’s overall residential property price index dropped by 11.7 percent in 2024, when compared with the year prior. Data from the Statistics and Census Service (known by its Portuguese initials, DSEC) shows the index ended the year at 215.8, down from 244.4 in 2023 and 254 in 2022.
The index for existing residential units fell by the most in 2024, at 11.3 percent year-on-year. That for pre-sale units was down by 6.1 percent.
Analysed by calendar quarter, the overall index was down by 2 percent. By rolling three-month periods, the October-December index, compared with the September-November period, remained essentially flat – with a rise of 0.1 percent overall.
[See more: Average property prices plummet despite a sales rebound]
The same period saw the index for existing residential units go up by 0.2 percent from the previous period, with the indices for units in the Macao Peninsula and Taipa and Coloane rise by 0.1 and 0.5 percent respectively.
Analysed by age of building, the indices for residential units of buildings between 6 and 10 years old, and for those between 11 and 20 years old, rose by 2.6 and 0.2 percent respectively, while the index for aged 5 years or less went down by 2.1 percent.
With respect to size, the indices for residential units with a usable floor area of 100 square metres or more went up by 3.1 percent from the previous period, while the indices for those with a floor area between 75 and 99.9 square metres, and those with less than 50 square metres, decreased by 3.9 and 1 percent respectively.
