Average rents for residential units and shops by quarter
Information from the Statistics and Census Service (DSEC) indicated that the average rent per square metre of usable area for residential units in Macao was MOP135 in the second quarter of 2024, up by 1.7% quarter-on-quarter. The average rents for residential units in Coloane (MOP147), NATAP (MOP160) and NAPE & Aterros da Baía da Praia Grande (MOP138) increased by 5.5%, 4.6% and 2.0% respectively, whereas the average rents for those in Baixa de Macau (MOP117) and Barca (MOP120) decreased by 0.4% and 0.2%.
Analysed by usable area, 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 were MOP166 and MOP134 respectively, up by 1.7% and 1.9% quarter-on-quarter.
As regards non-residential units, the average rent per square metre of usable area for shops increased by 0.6% quarter-on-quarter to MOP497 in the second quarter. Analysed by district, the average rents for shops in Baixa de Macau (MOP724) and Areia Preta & Iao Hon (MOP498) showed respective growth of 3.5% and 1.9% quarter-on-quarter, as many leases with relatively low rents were not renewed in the second quarter. Meanwhile, the average rents for shops in Horta e Costa & Ouvidor Arriaga (MOP501) and Barca (MOP361) dropped by 2.5% and 1.8% respectively from the previous quarter.
The average rent per square metre of usable area for industrial units went up by 0.4% quarter-on-quarter to MOP124, while the average rent for office units decreased by 0.8% to MOP297.
In comparison with the second quarter of 2023, the average rent for residential units in Macao grew by 3.8%; the average rents for shops and industrial units climbed by 1.6% and 1.5% respectively, whereas the average rent for office units fell by 2.1%.
Data of Rental Statistics are obtained from the declarations of leasing of real estate for property tax of the Financial Services Bureau. The type of building unit is classified according to the end-use in property registration. Statistical coverage includes rental of the entire building unit with an unexpired lease, excluding units owned by the SAR Government or charitable organisations, etc.