The average rent per square metre has risen to 130 patacas this third quarter, an increase of 0.8 percent quarter-on-quarter, according to data from the Statistics and Census Service (DSEC).
Both the Macao Peninsula and Taipa experienced a rise of 0.8 percent, reaching an average rent of 130 patacas per square metre of usable area, whereas Coloane’s figure increased by 0.7 percent (137 patacas).
The district with the highest rental increase this period was NATAP, with a total of 4.8 percent (153 patacas). This was followed by Barca and NAPE & Aterros da Baía da Praia Grande whose percentage increase stood at 2.7% (116 patacas) and 1.6% (131 patacas) respectively. In comparison, the rent in Horta e Costa & Ouvidor Arriaga dropped by 0.7% to 149 patacas.
Rents of commercial premises also saw an increase this quarter, with the average rent per square metre for shops jumping to 495 patacas, a bump of 1 percent compared to the same quarter last year. Similarly, industrial units experienced an increase of 1.6 percent (124 patacas), although office units saw a decrease of 1 percent (302 patacas).
The increase in rental price does not come as a surprise. Earlier this year, real estate agency Jones Lang LaSalle forecast that residential rent would see a surge between 5 to 10 percent in 2023.
The DSEC collects its rental statistics data by referring to the Financial Services Bureau’s declarations of leasing of real estate for property tax.
—With reporting by Kenny Fong