Residential property price index down by nearly 2 pct between Sept and Nov

Macau News Agency. 9 January 2024. By Aries Un.

Residential property prices in Macau experienced a decline of nearly 2 per cent in the September-November period in 2023, standing at 235.5, according to the Statistics and Census Service.

The overall property price index dropped by 1.8 per cent, with the Macau peninsula down by 1.4 per cent and Taipa and Coloane by 3.3 percent.

Existing residential units saw a 1.8 per cent decrease, with the Macao peninsula down by 1.5 per cent and Taipa & Coloane by 2.9 per cent.

The index for pre-sale units dropped by 3.6 per cent. The decline is also evident in units of buildings 5 years old or less (-3.3 per cent) and those between 11 and 20 years old (-2.7 percent).

Overall, residential property prices fell by 5.7 per cent compared to the same period in 2022, with the Macao peninsula dropping by 6.7 per cent and Taipa & Coloane by 1.9 per cent.