According to the realtor, recovery of property markets across the GBA has been slow, with prices in Macao and Hong Kong continuing to face downward pressure.
property prices
Buying somewhere to live got marginally more expensive, with Taipa and Coloane slightly ahead of the Macao peninsula.
Apartments on the peninsula are pricier than the islands, while it is still cheaper to buy an older property.
The total number of residential property sales in Macao dropped 18.1% year-on-year, which shows a “significant” contraction.
Macao’s overall residential property price index for June-August dipped by 0.3% over the previous survey period (May-July) to 268.0.
The Macao Special Administrative Region’s (MSAR) average residential property price dropped to below MOP 100,000 (US$12,500) per square metre last month.
The number of property units sold last month fell 43.7% year-on-year to 443.
Property prices will face a downward correction, with local Jones Lang LaSalle (JLL) representatives yesterday forecasting a drop of up to 10 percent in prices of residential and retail units.
The average price of residential units in 2015 dropped by 13 percent year-on-year to 86,826 patacas per square metre of usable area, the Statistics and Census Bureau (DSEC) announced on Wednesday. The average price per square metre of usable area of pre-sale residential units fell by 23.5 percent to 119,526 patacas, while the average price […]
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