Some 96 residential properties were sold in Macao in the first half of last month, down by around 38 percent in comparison to the 154 transactions registered in the second half of November.
According to stamp duty data from the Finance Bureau, Coloane witnessed the sharpest decline, with its property sales dropping from 16 in the last half of November to just 6 in the initial half of December. The peninsula’s transactions also fell rapidly from 106 to 53. In contrast, Taipa saw sales grow by from 32 to 37.
Meanwhile, the average residential property price per square metre totalled 82,383 patacas (US$10,227), an increase of 8.3 percent over the 75,797 patacas (US$9,409) recorded in the latter half of November.
By district, the peninsula’s average price grew to 72,480 patacas (US$8,998), a rise of 6.27 percent. Taipa and Coloane also experienced price increases of 4.57 percent and 4.42 percent to 88,762 patacas (US$11,019) and 102,976 patacas (US$12,783) respectively.
[See more: Property sales and prices are down in the first half of November]
Looking back over 2024, an estimated 3,067 transactions were made, according to analysis by Centaline Property’s Macao and Hengqin reported by local media. When compared to 2023, last year’s sales figure marks an increase of approximately 5 percent.
The property price per square metre for full-year 2024 came to an average of around 85,000 patacas (US$10,552), a drop of 7 percent year-on-year.
Assessing prospects for 2025 at a press conference yesterday, Jimmy Lo, the senior regional sales director of Centaline, expressed cautious optimism that 3,500 transactions could be reached as interest rate cuts begin to take effect. He said he hoped that measures implemented by the central government – including the multiple-entry permit scheme for Zhuhai and Hengqin residents – would boost the Macao economy and help stop local prices from falling.
Centaline’s general manager, Pun Chi Meng, was similarly optimistic, citing the increase in the loan to value ratio (LTV) by banks as a factor in encouraging buyers to enter the market.
