Property price index increases 8pct year-on-year

The overall residential property price index for the period between September to November 2018 increased by 0.7 percent over the previous period of August to October, reaching 270.5, according to latest information from the Statistics and Census Service. The property price index for Macau (272.4) rose by 0.8 percent, while the index for Taipa and Coloane (261.5) held steady.

In comparison with September to November 2017, the overall residential property price index increased by 8.3 percent, with the indexes for existing residential units and pre-sale residential units rising by 7.7 percent and 12.8 percent respectively.

Analyzed by type of property, the index for existing residential units (291.8) increased by 0.5 percent considering the period between September to November 2018, with those in the Macau peninsula (287.3) rising 0.6 percent and those in Taipa and Coloane (312.3) falling 0.2 percent.

Based on the year of completion of building construction, the indexes for those built within the last five years increased by 0.4 percent, while the index for those completed between 11 and 20 years ago grew by 1.6 percent. The index for buildings completed between six and 10 years ago fell by 0.8 percent and those completed over 20 years ago dropped 0.7 percent.

Meanwhile, the index for pre-sale residential units decreased by 0.3 percent to 272.3 during the September to November period.