Property | October is the determinant of overall transactions: Centaline

If the city’s performance in October is strong, the property market may see an overturn since August, Roy Ho, senior director of Centaline Property in Macau and Hengqin of Zhuhai, said in a statement.
The statement was issued prior to the city’s record of the latest two Covid-19 community cases. The new cases have triggered the immediate prevention measures, which led to the closure of many government venues and the suspension of events.
In the statement, the executive pointed out that the city was anticipating the influx of tourists during the October 1 Golden Week.
Earlier, the director of the Macao Government Tourism Office, Maria Helena de Senna Fernandes, disclosed that local hoteliers were happy about reservations during Golden Week. They have also reported a steadily rising trajectory since the summer holiday.
The impact of the latest cases on tourists’ desire to visit Macau is still unclear, as local public broadcaster TDM reported that some tourists from the mainland still have strong trust and interests in coming to Macau.
The realtor noted in the statement that if the Golden Week sees strong performance, the property market may heat up and, therefore, raise prices in October, if not the last quarter of the year.
Reviewing the year so far, Ho pointed out that both August and September did not see a stimulated market. He explained that the four new cases in August discouraged originally interested property buyers.
Into September, the opening of the new school year, the election and good news about Hengqin distracted the interests of certain buyers, bringing the transaction and viewing counts down.
In terms of price, Ho disclosed that the realtor recorded an index of 93.17 concerning properties in the Greater Bay Area for August, which is a 1.22% drop month-over-month and a new low since October 2016. He expects the price index for September to fall further.