Home prices fall to 14-year quarterly low


[Photo: Renato Marques]
Residential property prices declined further in the third quarter, with the average cost per square meter reaching its lowest quarterly level in 14 years, according to official data.
The residential property price index fell 4.7% from the previous quarter, reflecting continued weakness across the market. The Macau Peninsula recorded the steepest drop, with prices declining 5.4%, compared with a 2.3% decrease in Taipa and Coloane.
On an annual basis, residential prices fell 4.4% on the peninsula and 4.1% across Taipa and Coloane.
The average residential property price dropped to MOP67,634 per square meter during the July-to-September period, marking the lowest quarterly reading in 14 years.
Despite the decline in property values, transaction activity increased. A total of 805 residential property purchases and sales were recorded during the quarter, up 4.1% from the same period last year.
The Macau Peninsula accounted for approximately three-quarters of all residential transactions. LV
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