Residential property price index for October – December 2018
Information from the Statistics and Census Service (DSEC) indicated that the overall residential property price index for October – December 2018 decreased by 0.6% over the previous period (September – November 2018) to 268.8. The indices for the Macao Peninsula (270.9) and Taipa & Coloane (259.9) both fell by 0.6%.
The index for existing residential units (289.9) decreased by 0.7% from the previous period, with the indices for the Macao Peninsula (285.3) and Taipa & Coloane (309.8) dropping by 0.7% and 0.8% respectively. Analysed by year of building completion, the indices for residential units completed between 11 and 20 years ago and for those built in 5 years or less fell by 0.9% and 0.6% respectively, whereas the index for those completed between 6 and 10 years ago rose by 0.5%. Meanwhile, the index for pre-sale residential units (272.0) went down by 0.1%.
Analysed by quarter, the overall residential property price index in the fourth quarter of 2018 (268.8) declined by 0.6% compared to the third quarter (270.4). The indices for existing residential units and pre-sale residential units fell by 0.7% and 1.4% respectively. The indices for residential units with a usable floor area of less than 50 square metres and for those with an area between 50 and 74.9 square metres decreased by 2.3% and 1.5% respectively quarter-to-quarter, while the index for those with a floor area between 75 and 99.9 square metres increased by 1.2%.
In 2018, the overall residential property price index rose by 8.5% year-on-year to 265.5, a slowdown from the 11.6% growth in 2017. The indices for existing residential units (285.0) and pre-sale residential units (274.2) increased by 8.9% and 11.5% respectively year-on-year.