Macau Business. By Newsdesk. 10 May 2023.
Macau’s real estate market experienced a decline in rents for the first quarter of 2023, according to statistics released by the Statistics and Census Service (DSEC).
The data revealed that the average rent per square metre of usable area for residential units in Macau was MOP130 (US$16), down by 1.5 per cent quarter-on-quarter.
Among the major districts surveyed, the average rents for residential units in the districts of ZAPE, Areia Preta, Barra, and Doca do Lamau, as well as downtown Taipa decreased by 1.8 per cent, 1.6 per cent, 1.5 per cent, 1.3 per cent, and 0.8 per cent, respectively.
The average rents per square metre for residential units with a floor area of less than 50 square metres, and for those with an area between 50 and 99.9 square metres dropped by 1.3 per cent and 1.5 per cent quarter-on-quarter to MOP158 and MOP129, respectively.
The average rents for non-residential units, on the other hand, varied. The average rent per square metre for shops increased by 3.6 per cent to MOP488 compared to the previous quarter.
The average rent per square metre of usable area for office units, however, went down by 1.3 per cent quarter-on-quarter to MOP310, while that for industrial units climbed by 0.8 per cent to MOP122.
Compared to the first quarter of 2022, the average rents for residential units, shops, office units, and industrial units decreased by 7.1 per cent, 0.4 per cent, 4.6 per cent, and 0.8 per cent, respectively.
