Apartments’ rent down 3%: DSEC

The average rent per square metre of usable area for residential units in Macau was MOP131 in 2023, down by 3.0% year-on-year, according to data from the Statistics and Census Service (DSEC). When compared to 2019, the figure represented a fall of 19.6%, which showed that the coronavirus pandemic had a rather large impact on residential rents. Among the districts with a relatively high number of lease declarations, the average rents for residential units in Areia Preta & Iao Hon (MOP123), ZAPE (MOP111) and Baixa da Taipa (MOP131) decreased by 5.4%, 4.3% and 3.7% year-on-year respectively, whereas the average rent for those in NATAP (MOP154) increased by 1.3%.