Property prices continue decline

Macau’s overall residential property price index dropped 3.2% in the first quarter of 2024 compared to the previous quarter, according to data released by the Statistics and Census Service. Both the Macau Peninsula and Taipa/Coloane saw declines, falling 3.5% and 1.8% respectively. Existing unit prices dipped 3.3% overall, with the peninsula and Taipa/Coloane down 3.1% and 3.6%. Meanwhile, pre-sale unit prices rose slightly by 0.3%. On a quarterly basis, the overall index fell 1.3%, led by a 1.7% decline on the peninsula. Prices were down across age groups and floor areas.