CHINA Macao's residential property price index drops 0.7 pct

CHINA

Macao's residential property price index drops 0.7 pct

Xinhua

21:11, May 07, 2021

Photo taken on Feb. 15, 2021 shows tourists visit a pedestrian street in front of the Ruins of St. Paul's in the Macao Special Administrative Region, south China. (Photo: Xinhua)

MACAO, May 7 (Xinhua) -- Macao's overall residential property price index in the period from January to March 2021 decreased by 0.7 percent to 261.2 from the previous period from December 2020 to February 2021, the special administrative region's (SAR) statistics service said on Friday.

The latest report from the Statistics and Census Service (DSEC) showed that the indices for the Macao Peninsula, and Taipa and Coloane dropped 0.8 percent and 0.4 percent from the previous period to 260.7 and 263.5, respectively.

The index for existing residential units went down by 0.6 percent from the previous period to 280.5, with that for the Macao Peninsula falling 0.8 percent to 271.8 and that for Taipa and Coloane staying flat at 316.5.

Analyzed by the year of building completion, the indices for residential units completed between six and 10 years ago and for those completed in five years or less dropped 3.1 percent and 1.4 percent, respectively.

Meanwhile, the index for pre-sale residential units rose 0.6 percent to 286.4.

The indices for residential units with a usable floor area of 100 square meters or more and for those with less than 50 square meters decreased by 1.8 percent and 1.1 percent, respectively, while the index for those with a floor area between 75 and 99.9 square meters increased by 0.8 percent.

Analyzed by quarter, the overall residential property price index in the first quarter of 2021 dropped 2.8 percent compared to the fourth quarter of 2020.

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