[Photo: Ricaela Diputado]
Macau recorded 338 residential property transactions in April, up by 10 from March, but average prices continued to soften to a 13-year low, according to data from the Financial Services Bureau.
The average price per square meter of usable area fell to MOP68,000, down 2.3% from MOP69,600 in March, marking the lowest monthly level in more than a decade. Market participants said the property sector is gradually absorbing the effects of recent policy measures, with selective demand for quality second-hand units, while overall buyer sentiment remains cautious.
By district, the Macau Peninsula recorded 227 transactions, down from 260 in March. Taipa rose to 76 transactions from 54, while Coloane increased to 35 from 14. Average prices showed mixed movements, with the Peninsula falling 7.14% month-on-month to MOP66,300 per square meter. Taipa rose 7.4% to MOP67,900, while Coloane increased 14.5% to MOP81,200.
Market breakdown data showed local individuals accounted for 314 transactions. Among them, 187 buyers purchased properties without owning any residential unit at the time of purchase, representing 59.55%. Another 78 buyers already owned one unit, while 49 held more than one. Non-local individuals and corporate buyers accounted for 18 and 6 transactions, respectively.
Industry players said earlier supportive policy measures have been largely digested by the market, leading to a slowdown in secondary market activity. They noted that the rebound in Taipa and Coloane transactions was mainly driven by developers clearing inventory.
Some developers have offered units at secondary-market comparable prices, along with renovation packages, in an effort to attract end-users taking advantage of policy incentives. However, this has also placed pressure on the resale market.
They previously added that well-priced quality resale units are gradually being absorbed, reducing supply in the segment. However, weak price expectations and an uncertain outlook continue to weigh on buyer urgency. Monthly transaction volume is expected to remain between 200 and 300 units.
In a recent market forecast by JLL, commercial and housing rents are poised to stabilize in 2026, even as commercial property prices continue to decline.
The report notes that capital values fell across property sectors in 2025 due to weak demand and macroeconomic uncertainty. Residential prices are expected to hold firm, while commercial segments remain under pressure from tight bank lending and the closure of all satellite casinos by year-end.
Residential transactions fell 9.2% to 2,775 in 2025, though pre-sales surged 44.8% to 333.
Ten projects received pre-sale permits covering 484 units totaling 33,344 square meters, mostly in the mass-market segment on the Macau Peninsula. The 312-unit Lake Yoho project sold about 200 units.
Rental trends diverged, with high-end residential rents rising 1.1% but mass-market rents declining 10.3%, according to the JLL Macau Property Index.
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