Macao’s overall residential property price index for May to July stood at 194.0, down by 1.1 percent from the previous rolling period of April to June. That’s according to new figures from Information from the Statistics and Census Service (known by its Portuguese abbreviation DSEC).
The index for existing residential units (208.9) decreased by 2.1 percent, while that for pre-sale residential units (232.8) went up by 8.3 percent on account of the launch of new properties during the period.
The indices for existing residential units in the Macao Peninsula (198.4) and Taipa and Coloane (250.5) dropped by 2 percent and 2.5 percent respectively.
Analysed by age of building, the indices for residential units of buildings between 11 and 20 years old, and for those over 20 years old, fell by 3.3 percent and 2.5 percent respectively. The index for those between 6 and 10 years old rose by 0.5 percent.
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The price indices for residential units with a floor area between 75 and 99.9 square metres, and for those with an area of less than 50 square metres, decreased by 3.5 percent and 1.3 percent respectively from the previous period.
In comparison with May to July 2024, the overall residential property price index went down by 10.4 percent, with the indices for the Macao Peninsula (191.6) and Taipa and Coloane (203.6) falling by 10.3 percent and 10.6 percent respectively.
Macao’s property prices have dropped by about 40 percent since peaking in 2018, according to a recent report by the Macau General Association of Real Estate, which said that the local government’s removal of property market curbs last April had failed to halt the sector’s slide.
To help revive the property sector, the report called for the government to cut down-payments for homeowners from the current 30 percent to 15 percent.
