Macau ranked last in realtor’s GBA Index

Despite seeing a four-month consecutive rise, Macau is still ranked last in the Greater Bay Area (GBA) Index released by a regional realty agency.

The city has scored 91.21 points in the GBA Index for April released by regional realtor Centaline Property, in contrast to 195 points by Foshan, 188 points by Dongguan, and 128 points by Guangzhou and Shenzhen, as well as 107 points by Hong Kong.

Nonetheless, Macau has seen four consecutive months of growth in the index in the one-year to January this year. The one-year peak, meanwhile, was seen in October 2022, with 99 points scored.

The overall index for April logged 119 points, 0.96% growth month-over-month. The realtor attributed the result to the constant improvement in Macau, Hong Kong, Guangzhou and Shenzhen.

Among the 12 indices in April, 10 recorded an increase, which made it the best performing month in 35 months. The increase ranged from 0.2% to 3.94%. Two cities recorded a decline though, both for less than 1%.

In addition, among the 12 indices, eight hit this year’s new high, reflecting the ideal pace of urban recovery in the GBA, followed by a steady rise in the property market.

Chan Wing-Kit, Asia-Pacific vice chairman and president of the residential department of the realtor, said that the Ching Ming Festival holiday in April inevitably affected property transactions, but the GBA retained the pace of recovery after Covid-19.

The index is based on the transaction prices of new and used real properties within the GBA as the core data, with each city’s GDP as a weight-adder.