The latest residential property price index showed an 11.8 percent year-on-year decline for the November 2024 to January 2025 period, with the Macao Peninsula’s index dropping by 12.6 percent and Taipa and Coloane’s decreasing by 8.2 percent. The overall index stood at 204.2, according to the Statistics and Census Service.
Compared with the previous rolling three-month period of October to December 2024, it was down by 1.3 percent. The index for the Macao Peninsula (202.1) rose slightly, by 0.4 percent, but Taipa and Coloane’s index (212.7) went down by 7.2 percent.
The index for existing residential units (223.6) increased by just 0.1 percent from the previous period, with the indices for those in the Macao Peninsula (210.3) and Taipa and Coloane (276.4) falling by 0.4 percent and 0.6 percent respectively. By comparison, the index for pre-sale residential units (222.2) dropped by a far steeper 16.8 percent.
[See more: Average property prices plummet despite a sales rebound]
Analysed by age of building, the indices for residential units of buildings between 6 and 10 years old and for those over 20 years old rose by 0.5 percent and 0.1 percent respectively, whereas the index for those of 5 years old or under fell by 2.6 percent.
The indices for residential units with less than 50 square metres and for those with a floor area between 50 and 74.9 square metres decreased by 5.7 percent and 3.2 percent respectively from the previous period. The index for units with a floor area between 75 and 99.9 square metres increased by 0.6 percent.
Last month, the chairman of the Macau Real Estate Development Association, Peter Lok Wai Tak, predicted that the SAR’s property prices would fall by between 8 percent and 11 percent in 2025. He cited the downturn in the global economy, structural changes in the local sector, the slow recovery of small and medium-sized enterprises, growing competition from cities in mainland China and Sino-US tensions as contributing factors.
