Residential property prices dropping y-o-y, Taipa and Coloane down 7.4%

The overall residential property price index for the three months between November 2023 and January 2024 shows a decrease of 1.1% over the previous three-month period (October-December 2023), a survey from the Statistics and Census Service (DSEC) indicates.

This was the seventh consecutive time that this index recorded declines.

The indices for the Macau Peninsula (231.2) and Taipa and Coloane (231.8) dropped by 0.9% and 1.6% respectively.

The same survey also found that, year-on-year, the same residential property price index fell, on average, by 5.6%, with the index of Taipa and Coloane showing a more significant drop that reached 7.4%.

Analyzed by age of building, the indices for residential units of buildings over 20 years old and for those 5 years old or less fell by 2.1% and 0.9% respectively.

In the opposite direction was the index for housing units aged between 11 and 20 years old, which grew by 3.0%.

Concurrently, the index for pre-sale residential units (256.3) dropped by 1.7%.

Analyzed by floor area, the indices for residential units with a usable floor area of less than 50 square meters and for those with a floor area between 50 and 74.9 square meters decreased by 2.5% and 1.8% respectively, while the index for those with a floor area of 100 square meters and more went up by 2.1%.

High-rise buildings also registered less significant decreases than low-rise ones, with the indices for residential units of buildings with seven stories or less dropping by 2.5% while for those with more than seven stories the drop was just 0.6%.