The average rent per square metre of usable area for residential units in Macao stood at 135 patacas in the second quarter of 2024, according to data from the Statistics and Census Service (also known by its Portuguese initials DSEC). The figure represents an increase of 1.7 percent quarter-on-quarter.
The average rents for residential units in Coloane stood at 147 patacas, in Novos Aterros da Areia Preta (NATAP) at 160 patacas, and in the Novos Aterros do Porto Exterior (NAPE) and Aterros da Baía da Praia Grande districts at 138 patacas. These were respective increases of 5.5 percent, 4.6 percent and 2 percent.
The average rents for units in Baixa de Macau and Barca decreased by 0.4 percent and 0.2 percent to 117 and 120 patacas respectively.
[See more: Q2 property prices: the downward spiral continues]
Analysed by usable area, the average rents per square metre for residential units with a floor area of less than 50 square metres and for those with an area between 50 and 99.9 square metres were 166 patacas and 134 patacas respectively, up by 1.7 percent and 1.9 percent quarter-on-quarter.
As regards non-residential units, the average rent per square metre of usable area for shops increased by 0.6 percent quarter-on-quarter to 497 patacas in the second quarter, while the average rent per square metre of usable area for industrial units went up by 0.4 percent quarter-on-quarter to 124 patacas. The average rent for office units decreased by 0.8 percent to 297 patacas.
In comparison with the second quarter of 2023, the average rent for residential units in Macao grew by 3.8 percent. The average rents for shops and industrial units climbed by 1.6 percent and 1.5 percent respectively, while the average rent for office units fell by 2.1 percent.
