Housing prices drop due to Peninsula properties

The price index for residential property dropped by 0.9% between September and November last year, when compared with the period from August to October 2021, a report from the Statistics and Census Service (DSEC) shows.

Accounting for the drop are the units located in the Macau Peninsula, where prices decrease by as much as 1.2%.

Concurrently, properties located in the Islands rose in price by 0.8%, the same report acknowledges.

The index for existing residential units followed the same trend, decreasing by 1.1%, with one of the units located in the Peninsula declining by 1.4%. The index for properties in Taipa and Coloane remained steady with a marginal rise of 0.1%.

An analysis of the relationship between building age and index rating demonstrated that residential units in buildings aged between 11 and 20 years, and in those over 20 years old, decreased by 1.1% and 0.4% respectively, whereas those aged between six and 10 years grew by 2%.

In the same period, the index for pre-sale residential units rose by 3%.

Comparative analysis, concerned with the floor area of units, also demonstrated that smaller units – with a usable floor area between 50 and 74.9 square meters – registered a higher drop (1.7%). Those with a floor area of 100 square meters and over had a price decrease of 0.3%.

Mid-size units, with an area ranging between 75 and 99.9 square meters, climbed in index pricing by 0.7%.

Units located on low-rise buildings (less than seven stories) also scored lower, with the price index dropping by 1.0%, while the index for high-rise buildings rose by 0.3%.