Average rent up 2% y-o-y

The average rent per square meter of usable area for residential units in Macau was MOP133 in the first quarter of 2024, up by 2.1% year-on-year. Data from the Statistics and Census Service (DSEC) shows that among the districts with a relatively high number of lease declarations, the average rent for residential units in Barca (MOP120), NAPE & Aterros da Baía da Praia Grande (MOP136) and NATAP (MOP153) increased by 6.1%, 5.8% and 5.5% respectively. The average rent per square meter of usable area for office units decreased by 2.5% year-on-year to MOP300, while the average rent for industrial units rose by 1.2% to MOP124.