Macao's residential property price index drops 1.7 pct

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MACAO, Nov. 8 (Xinhua) -- Macao's overall residential property price index in the period from July to September decreased by 1.7 percent to 250.4 from the previous period from June to August, the special administrative region's (SAR) statistics service said on Tuesday.

The latest report from the Statistics and Census Service (DSEC) showed that the indices for the Macao Peninsula, and Taipa and Coloane dropped 2.1 percent and 0.3 percent from the previous three-month period to 249.7 and 253.2, respectively.

The index for existing residential units went down by 1.6 percent from the previous period to 268.1, with that for the Macao Peninsula losing 2.2 percent to 259.3 and that for Taipa and Coloane climbing by 0.1 percent to 303.1.

Analyzed by the year of building completion, the indices for residential units of buildings over 20 years old and those completed in five years or less decreased 2.6 percent and 1.8 percent respectively, whereas the index for those completed between six and 10 years old grew by 0.2 percent.

Meanwhile, the index for pre-sale residential units dipped 1.0 percent to 293.3.

The indices for residential units with a usable floor area of 100 square meters or more and for those with a floor area between 75 and 99.9 square meters fell by 3.0 percent and 1.8 percent respectively.

Analyzed by quarter, the overall residential property price index in the third quarter of 2022 slumped 3.2 percent from the second quarter.