Macau as the world’s sixth priciest housing market – Research – Macau Business

Macau boasted the sixth most expensive housing market in the world last year should the same assessment by property consultancy CBRE be applied to the city.

The consultancy released the Global Living 2020 research report this week, indicating Hong Kong had the worlds most expensive housing market with the average housing property price standing at US$1.25 million (MOP9.96 million) in 2019.

Munich from Germany, Singapore and Shanghai trailed behind with the average property price of US$1 million (MOP7.94 million), US$915,601 (MOP7.27 million) and US$905,834 (MOP7.19 million) respectively.

The report covered the housing markets in 39 cities across the globe but did not include Macau.

However, applying the same assessment standard and based on the data from the Statistics and Census Service of Macau, the average home price here stood at MOP6.17 million in 2019 when a total of 8,277 residential properties were transacted in a total value of MOP51.05 billion.

This would have put Macau as the sixth most expensive residential market in the world if CBRE had included the city in the list, closely following Shenzhen that ranked at the fifth place with the average price of US$783,855 (MOP6.23 million).

Other top 10 cities in the CBRE list include: Beijing City (US$763,498/MOP6.06 million), Vancouver (US$754,617/MOP5.99 million), Los Angeles (US$717,583/MOP5.7 million), Paris (US$650,555/MOP5.17 million), and New York (US$649,026/MOP5.15 million).

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Macau as the world's sixth priciest housing market - Research - Macau Business