Property prices slip 0.6%, led by Peninsula market

Property prices were 0.6% lower in the three-month period from June through to August 2019, compared to the previous period between May and July. The data was released yesterday by Macau’s Statistics and Census Service and showed that the overall residential property price index had dropped to 267.8. The index for the Macau Peninsula (269.1) dropped by 0.8%, while that for Taipa and Coloane (261.9) rose by 0.6%. During the three-month period, newer residential units tended to see their value climb faster than older units. Analyzed by year of building completion, the indexes for residential units completed between 11 and 20 years ago decreased by 0.7%, whereas the index for residential units completed between 6 and 10 years ago grew by 0.7%. The index for pre-sale residential units (282.0) increased by 0.4%.