Residential property price index for April - June 2024

MACAU, August 7 - Information from the Statistics and Census Service (DSEC) indicated that the overall residential property price index was 218.8 in the second quarter of 2024, down by 3.4% quarter-on-quarter; the index for the Macao Peninsula (215.6) dropped by 4.3% while that for Taipa & Coloane (231.5) increased by 0.1%. The index for existing residential units (236.6) decreased by 3.1% from the previous quarter; the indices for those in the Macao Peninsula (225.3) and Taipa & Coloane (281.6) dipped by 4.0% and 0.2% respectively. Meanwhile, the index for pre-sale residential units (273.4) rose by 4.5% quarter-on-quarter.

In terms of three consecutive months, the overall residential property price index for April - June 2024 decreased by 0.5% over the previous period (March - May 2024). The index for the Macao Peninsula dropped by 0.7% while that for Taipa & Coloane climbed by 0.3%.

The index for existing residential units went down by 0.7% from the previous period; the indices for those in the Macao Peninsula and Taipa & Coloane shrank by 0.6% and 1.1% respectively. Analysed by age of building, the indices for residential units of buildings over 20 years old and for those between 6 and 10 years old decreased by 0.9% and 0.5% respectively, whereas the index for those between 11 and 20 years old grew by 0.3%. Meanwhile, the index for pre-sale residential units rose by 11.9%.

With respect to usable floor area, the indices for residential units with a usable floor area between 75 and 99.9 square metres and for those with a floor area of 100 square metres or more fell by 1.4% and 0.4% respectively, while the index for those with a floor area of less than 50 square metres grew by 4.4%. In terms of high- and low-rise buildings, the index for residential units of buildings with seven storeys or less dropped by 0.6%, whereas the index for those with more than seven storeys went up by 0.8%.

In comparison with April - June 2023, the overall residential property price index went down by 13.1%, with the indices for the Macao Peninsula and Taipa & Coloane dropping by 13.7% and 10.6% respectively.