Stamp duty records show that a total of 5,197 building units and parking spaces were purchased and sold in 2024, an increase of 17.7 percent year-on-year. Their total value – 28.04 billion patacas (US$3.5 billion) – was up by 20.7 percent.
Residential units made up the vast bulk of those figures: 3,380 units were purchased and sold (year-on-year growth of 11.1 percent), and their value amounted to 20.33 billion patacas (US$2.5 billion).
However, last year also saw the overall average price per square metre of usable area of residential units drop by 9 percent compared with 2023. Macao Peninsula properties experienced the biggest decline, at 12.5 percent (their average price per usable square metre was 78,751 patacas, or roughly US$9,800). Coloane properties (99,617 patacas per usable square metre, or about US$12,400) fell by 7.3 percent, while Taipa properties (averaging 93,896 patacas, or US$11,700, per usable square metre) fell by 3.6 percent.
[See more: Macao’s residential rents rose in 2024, for the first time in six years]
On average, the price of existing residential units across the city dropped by 10 percent year-on-year, while the price of pre-sale residential units rose by 1.2 percent.
The prices of non-residential units experienced steeper drops: office units (averaging 69,729 patacas, or about US$8,700 per usable square metre) and industrial units (39,268 patacas, or roughly US$4,900 per usable square metre) went down by 21.7 percent and 16.9 percent respectively year-on-year.
With regards to construction in the private sector, there were 5,192 residential units in the design stage, 1,771 under construction and 298 under inspection as at the end of 2024. For the whole year, a total of 640 residential units were issued the licence of use, with 235 of them in the Macao Peninsula and 396 in Coloane. Meanwhile, 107 residential units were issued with construction permits, 106 of them situated in the Macao Peninsula.
