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Macao residential property prices edge upwards in Q4

Buying somewhere to live got marginally more expensive, with Taipa and Coloane slightly ahead of the Macao peninsula.

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Buying somewhere to live got marginally more expensive, with Taipa and Coloane slightly ahead of the Macao peninsula.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 4:43 am

Macao’s overall residential property price index for the fourth quarter increased by 0.3 per cent over the previous quarter to 267.6, the Statistics and Census Bureau (DSEC) has announced.

The bureau noted that the indices for the peninsula (267.2) rose by 0.3 per cent, while those for Taipa and Coloane (269.4) increased by 0.5 per cent.

The DSEC pointed out that the existing residential units (286.1) index decreased by 0.2 per cent from the previous period, with the indices for those in the peninsula (277.8) dropping by 0.1 per cent, and for Taipa and Coloane (319.6) dropping by 0.5 per cent.

With data analysed by year of building completion, the indices for residential units of buildings aged between six and 10 years old dipped by 2.8 per cent, while there was a 1.5 per cent dip for those aged between 11 and 20 years. The pre-sale residential units (315.8) index went up by 2.8 per cent.

The bureau pointed out that the indices for “residential units with a usable floor area of 100 square metres or more” decreased by 1.5 per cent, while those “with a floor area between 50 and 74.9 square metres” dropped by 0.2 per cent.

The indices for both residential units with a floor area of less than 50 square metres and for those with a floor area between 75 and 99.9 square metres increased by 0.7 per cent.

For both high-rise and low-rise buildings, the index for residential units of “buildings with seven stories or less” went up by 1.4 per cent, while the index for those with over seven stories went down by 0.4 per cent, the statement said.

The DSEC noted that analysed by quarter, the fourth quarter’s overall residential property price index decreased by 0.6 per cent from the previous quarter. The index for existing residential units decreased by 1.4 per cent, while pre-sale residential units went up by 7.2 per cent.

The overall average residential property price index decreased by 0.1 per cent year-on-year to 266.8 in 2021.

 

UPDATED: 22 Dec 2023, 4:43 am

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