Macao’s property market saw a total of 118 residential units sold in the first half of November, down 15 percent when compared to the 139 sales recorded in the latter half of October.
Stamp duty data from the Finance Service Bureau indicates that Coloane experienced the sharpest drop between the second half of October and the first half of November, with its sales decreasing from 27 units to just 7 units.
Transactions in the peninsula also fell, from 99 apartments to 90. By contrast, Taipa witnessed a jump in sales from 13 to 21 units.
The overall average residential property price per square metre experienced a drop as well, plummeting by 8.1 percent, from 72,200 patacas (US$8,988) in the second half of October to 66,315 patacas (US$8,256) in the first half of November.
Each of Macao’s three localities suffered a decline in their property prices, with Coloane reporting the sharpest fall. The district’s prices fell from 88,314 patacas (US$10,995) to 79,946 patacas (US$9,953), down 14 percent.
Taipa experienced the second highest fall, with its prices dropping from 67,100 (US$8,353) patacas to 64,510 patacas (US$8,031), a decrease of 3.86 percent. Meanwhile, the peninsula’s prices plummeted by 3.4 percent, from 68,815 patacas (US$8,567) to 66,476 patacas (US$8,276).
[See more: Pre-sale launches drive a jump in third-quarter property transactions]
The current results continue a long, steady decline that has been plaguing Macao’s property market in recent years. While the local real estate sector saw some growth during the third quarter of this year due to the launch of pre-sale units, the market has largely been struggling to reach the same highs of the early 2010s, which witnessed annual sales of around 15,000 units and rising property prices.
Last April, the SAR government attempted to assist the ailing market by removing all property curbs. Although the measures temporarily revived the sector, the positive impact ultimately tapered off.
In August, the Macau General Association of Real Estate outlined a number of measures that the government could implement to reverse the dismal state of the sector, which it said was negatively impacting investment, consumer confidence and purchasing power.
In similar comments made in February, Ung Choi Kun, the head of the Association of Property Agents and Realty Developers of Macau, urged the authorities to take action to boost confidence in the sector, which he said was “in an unfavourable environment.”
For its part, the SAR government announced in its 2026 policy address that it intends to waive stamp duty for eligible residents who are purchasing property priced at 6 million patacas (US$747,000) or less.
