Homes are cheaper, but office space is more expensive, statistics bureau says.
residential property
The total number of residential property sales in Macao dropped 18.1% year-on-year, which shows a “significant” contraction.
A total of 2,542 building units and parking spaces were purchased and sold in the third quarter as per stamp duty records, a decrease of 3.6 per cent quarter-to-quarter.
Macao’s overall residential property price index for May-July rose by 1.0% over the previous period (April-June) to 268.8.
The number of residential and commercial property sales plunged in the first half of the year amid the ongoing coronavirus-induced economic recession. According to real estate experts, the situation today is similar to 2014, when the property market was reeling from a sharp contraction in gross gaming revenue.
Macau’s overall residential property price index for November 2017-January 2018 grew 3.3 percent over the previous survey period (October-December 2017).
