Macau’s overall average residential property price index for 2024 decreased by 11.7 percent year-on-year to 215.8, the Statistics and Census Bureau (DSEC) has announced this week.
According to a DSEC statement, the indices for existing residential units (232.7) and pre-sale residential units (268.7) dropped by 11.3 percent and 6.1 percent respectively year-on-year.
The overall residential property price index for October - December 2024 was 206.8, up by 0.1 percent over the previous period (September - November 2024). The index for the Macau Peninsula (201.2) rose by 0.2 percent while that for Taipa & Coloane (229.1) stayed flat over the previous period.
The index for existing residential units (223.3) increased by 0.2 percent from the previous period, with the indices for those in the Macau Peninsula (209.7) and Taipa & Coloane (277.5) rising by 0.1 percent and 0.5 percent respectively.
Analysed by building age, the indices for those between 6 and 10 years old and for those between 11 and 20 years old rose by 2.6 percent and 0.2 percent respectively, whereas the index for those of 5 years old or less decreased by 2.1 percent. Meanwhile, the index for pre-sale residential units (267.1) went down by 0.2 percent.
With respect to usable floor area, the index for residential units with a usable floor area of 100 square metres and over went up by 3.1 percent from the previous period, while the indices for those with a floor area between 75 and 99.9 square metres and those with less than 50 square metres decreased by 3.9 percent and 1 percent respectively.
This photo taken last night shows a mixed-use residential-commercial building in Nam Van (Praia Grande Bay) on the Macau Peninsula. - Photo: Carl Leong
