Home prices may drop by 5 pct in 2Q: Centaline

2013-4-12

From:Macau Business

Centaline (Macau) Property Agency Ltd says that the average transaction price of homes in Macau may drop by 5 percent in the second quarter of 2013.

“There is room for home prices to go down by 5 percent in the second quarter as there are some uncertainties clouding the market here that affect market sentiment,” said Centaline (Macau) Property Agency Ltd director Jacky Shek Po Tak earlier this week.

Michael Chung, from Midland Realty (Macau) Ltd, says the drop may be even sharper, Portuguese language newspaper Jornal Tribuna de Macaureports.

Home prices in February already dropped by 5.6 percent in comparison with the previous month, data from the Financial Services Bureau shows.

The average price per square metre of residential space went down to MOP70,385 (US$8,803) in February.

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