Rental prices in Macao are continuing to increase gradually. That’s according to official data, which shows that the average rent per square metre for residential units during the first quarter of this year rose by 2.1 percent year-on-year, reaching a total of 133 patacas.
Figures from the Statistics and Census Service reveal that the average rent on the Macao peninsula rose by 1.8 percent in comparison to the first quarter of 2023, while the corresponding figures for Taipa and Coloane increased by 2.8 percent and 1.9 percent respectively.
The Barca district, and NAPE and Aterros da Baía da Praia Grande, were reported to have the highest growth in average rental rate, with year-on-year increases of 6.1 percent and 5.5 percent respectively. Novos Aterros da Areia Preta (NATAP) was placed third, witnessing a growth of 5.5 percent in comparison to the first quarter of last year.
[See more: High rents are forcing non-local students to seek flats outside of Macao]
In terms of the business sector, the bureau found that the average rent per square metre for retail premises reached 494 patacas during the first quarter, an increase of 2.3 percent year-on-year. The rental price of industrial units also rose by 1.2 percent when compared to the first three months of last year, reaching a total of 124 patacas.
Office units, on the other hand, saw a drop of 2.5 percent in their average rents, with an average of 124 patacas.
In comparison to the last quarter of 2023, the residential rental prices across Macao increased by 0.7 percent in the first quarter of this year. The rent for shops did not shift quarter-on-quarter, remaining at 494 patacas. Average rent for office and industrial units, however, decreased by 0.2 percent and 1.3 percent respectively when compared to the fourth quarter of 2023.
