Macao’s property price index downs by 0.3 pct

MACAO: Macao’s overall residential property price index from June to August decreased by 0.3 percent over the previous period from May to July to 268.0, the special administrative region’s statistics service said here 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 by 0.3 percent and 0.6 percent respectively to 268.8 and 264.3.
The index for existing residential units held steady at 289.1 from the previous period. The index for those in the Macao Peninsula grew by 0.1 percent to 282.9, while the index for those in Taipa and Coloane fell by 0.1 percent to 314.8.
Analyzed by year of building completion, the indices for residential units completed between six and 10 years ago and for those built between 11 and 20 years ago fell by 0.5 percent and 0.3 percent respectively, while the index for residential units completed in five years or less rose by 0.3 percent.
Meanwhile, the index for pre-sale residential units decreased by 0.8 percent from the previous period to 276.8.
The index for residential units with a usable floor area of less than 50 square meters decreased by 1.1 percent, while the indices for those with a floor area between 50 and 74.9 square meters and for those with an area between 75 and 99.9 square meters both rose by 0.7 percent. In terms of buildings’ storeys, the indices for residential units of buildings with seven storeys or less and for those with more than seven storeys went down by 1.6 percent and 0.2 percent respectively. – Agencies