Macao’s overall residential property price index dropped 2.3 percent in the third quarter when compared with the second, according to data released Friday by the Statistics and Census Service (known by its Portuguese initials DSEC).
The index for existing homes fell 4 percent, while that for pre-sale units climbed 9.4 percent, driven by the launch of new developments during the period.
For the July to September rolling period, the overall index stood at 191.6, down 0.4 percent from the June to August period. The index for existing residential units fell 0.9 percent to 204.8, while the index for pre-sale residential units rose 0.7 percent to 235.2.
By region, the index for the Macao Peninsula declined 0.4 percent to 188.8, while Taipa and Coloane remained unchanged at 203.5. Analysed by building age, homes between 6 and 10 years old saw a 1.1 percent fall and those over 20 years old dropped 0.8 percent. Units in buildings 11 to 20 years old, however, gained 0.5 percent.
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In terms of usable floor area, the indices for homes measuring 50 to 74.9 square metres and 75 to 99.9 square metres both slipped 1.3 percent, while smaller units (under 50 square metres) edged up 0.3 percent.
When grouped by building height, units in low-rise buildings (seven storeys or less) recorded a 2.2 percent drop, compared to a 0.5 percent decrease for high-rise units.
Compared with the same period last year, the overall property price index fell 9.2 percent, with the Macao Peninsula and Taipa and Coloane sub-indices down 8.7 percent and 10.8 percent, respectively.
Macao’s housing market has been in a prolonged slump, with prices still roughly 40 percent below their 2018 peak. Analysts say that while recent policy adjustments have eased restrictions on home purchases, they have yet to make any meaningful impact.
