The August to October period saw Macao’s overall residential property price index drop by 0.4 percent when compared with the period from July to September, though the Taipa and Coloane index managed to climb by 1.2 percent.
Year-on-year, official figures from the Statistics and Census Service indicate that the period saw a 12.4 percent overall decline. The index for Macao Peninsula tumbled by 13.6 percent, while that for Taipa and Coloane fell by 8.2 percent.
The index for existing residential units went down by 0.2 percent from the July to September period. On the peninsula, it dropped by 0.8 percent – but this was offset by a 1.8 percent rise in Taipa and Coloane.
[See more: Property sales and prices were down in the first half of November]
By age, units in buildings built between six and 10 years ago fared the best, with their index growing by 2.4 percent in the August to October period. The index for those built between 10 and 20 years old grew by 1.1 percent, while the indices for units built within the last five years and those more than 20 years old each fell by 0.2 percent.
Units with usable floor area of between 50 and 74.9 square metres saw a small increase in prices, while the indices for those sized 75 to 99.9 square metres and less than 50 square metres dropped by 3.6 and 0.8 percentage points respectively.
While some realtors say the local property sector can be expected to recover in the fourth quarter on the back of lower interest rates, little improvement has been detected so far. Figures show that there were 145 residential properties sold in Macao in the first half of November, down 16 percent in comparison to the 173 properties that changed hands in the second half of October.
