Macao’s property market remains in the doldrums, according to the latest figures from the Statistics and Census Service. The city’s overall residential property price index for the rolling three-month period from last September to November was 206.5 – a drop of 12.3 percent compared to the same period a year ago.
The index for the Macao Peninsula took the biggest hit, plummeting by 14 percent in a year-on-year comparison, while that for Taipa and Coloane declined by 5.8 percent respectively.
Compared to the previous reporting period (August to October 2024), the overall index fell 1.7 percent, while the index for the Macao Peninsula dropped 2 percent to 200.8, and that for Taipa and Coloane by 0.8 percent to 229.1.
[See more: Property transactions are down, but prices are up in the first half of December]
The overall index for existing residential units (222.8) went down by 1.5 percent from the August to October period, with the indices for those in the Macao Peninsula (209.4) and Taipa and Coloane (276.1) falling by 1.9 percent and 0.6 percent respectively. By comparison, the index for pre-sale residential units (267.7) dropped by 1.9 percent.
Analysed by age of building, the indices for residential units of buildings 5 years old or less, and for those over 20 years old, decreased by 1.9 percent and 1.1 percent respectively from the previous period, whereas the index for those between 6 and 10 years old climbed by 0.3 percent.
With respect to size, the indices for residential units with a usable floor area of 100 square metres or more, and for those with a floor area between 50 and 74.9 square metres, decreased by 2.2 percent and 1.9 percent respectively. The index for those with a floor area of less than 50 square metres grew by 0.3 percent compared to the previous period.
