Residential buildings are reflected in a window of a real estate agency in Hong Kong, China, on Sunday, Nov. 21, 2010. Financial Secretary John Tsang on Nov. 19 raised stamp duty and increased deposits, the toughest measures yet to rein in home values that soared 50 percent since January 2009. Photographer: Dale de la Rey/Bloomberg

Macau | Residential property price index grew 15.3 pct in 2017

Macau (MNA) – The overall residential property price index in the Macau SAR for the fourth quarter of 2017 grew 0.7 per cent quarter-on-quarter, with the annual index growing 15.3 per cent, figures released by the Statistics and Census Service (DSEC) showed on Friday. The index measures the evolution of prices taking 2011 as a base year.

The quarterly increase marked the seventh consecutive quarter of growth, DSEC said.

The index for Macau Peninsula residential property prices in 2017 increased 14.4 per cent, while the growth in Taipa and Coloane reached 19.7 per cent. In quarterly terms, the index for Macau grew 1.1 per cent while the figure for Taipa and Coloane decreased 1.6 per cent.

The index price for existing residential units increased 16 per cent in 2017, and 2.9 per cent quarter-on-quarter. The index for pre-sale residential units was up 22.7 per cent last year, but down 6.6 per cent quarter-on-quarter.

Regarding the year of construction, units built more than 20 years ago and between 11 and 20 years ago saw their index increase 4.3 per cent and 3.8 per cent, respectively.

On the other hand, the index for the price of units built in the last five years decreased 1.3 per cent.

[Edited by Sheyla Zandonai]