The residential property price index has remained steady with only marginal variations during the last quarter (Q4) of last year, according to information from the Statistics and Census Service.
Between October and December 2021, the overall residential property price index increased slightly by 0.3% to 267.6, when compared to the period between September and November.
The indices for the Peninsula (267.2) and Taipa and Coloane (269.4) also followed a similar trend, rising by 0.3% and 0.5% respectively.
The growth in the index is attributable to the prices of new housing units, as existing residential units (286.1) decreased by 0.2% from the previous period. The index of existing residential units in Taipa and Coloane experienced a greater drop (0.5%) than the Peninsula (277.8) where the difference was just 0.1%.
The residential property price index for residential units of buildings between 6 and 10 years old dropped by 2.8%, almost double that of residential units of buildings between 11 and 20 years old.
Meanwhile, the index for pre-sale residential units (315.8) increased by 2.8%.
By size, the units that were more undervalued belonged to the higher-end and mid-range categories (i.e. units with areas over 100 square meters or between 50 and 74.9 square meters), where the index fell by 1.5% and 0.2% respectively.
Concurrently, the index for residential units with a floor area of less than 50 square meters increased by 0.7%.
In 2021, the overall average residential property price index decreased by 0.1% year-on-year to 266.8.
