Slight drop recorded in last quarter’s residential prices

The city’s residential prices have dropped slightly, 0.2% down compared to the last three-month period, the Statistics and Census Service announced yesterday.
The data covers the period from December 2019 to February 2020. The residential price index for that period was 264.7, equating to a 0.2% drop compared with the previous period.
The price index of residential properties on the Islands, meaning Taipa, Cotai and Coloane, fell further than those on the Peninsula. The Island’s residential price index dropped 0.7%, compared with 0.1% for the Peninsula.
The government bureau discovered that the older the property was, the more severe the fall. Meanwhile, there was a rise in the price indices of properties less than five years old and pre- sale properties.
The price index for properties between 11 and 20 years old plunged 1.1%, while properties less than five years old recorded a slight rise of 0.1%, the same as pre-sale properties.
On the other hand, properties with a usable area smaller than 50 square meters recorded a 0.6% rise in their price index. Properties larger than 75 square meters recorded falls of 0.5% to 1%. Residential buildings of all heights recorded falls. AL