Local property prices expected to fall up to 11%

The chairman of the Macau Real Estate Development Association, Peter Lok Wai Tak, is forecasting a dip of 8% to 11% in the property market this year, citing several factors obstructing its recovery. Lok added that it may take up to two years before the market begins to rebound, pointing out that the sector faced a downward trend in Q4 of 2024 despite the li fting of property curbs last April. The residential property transaction rate last year totaled 3,057, a significant decrease from more than 7,000 transactions in 2019.