Housing rents increase in Q2, offices and shops drop slightly

The average rent per square meter of usable area for residential units slightly increased (+0.2%) quarter-on-quarter, according to data from the Statistics and Census Service (DSEC).

At the end of June, the average rental price per square meter was MOP139.

The bureau noted that the average rent for residential units recorded a slight increase compared to the previous quarter, driven by new leases with relatively high rents in high-rise residential buildings.

Considering the units’ locations, DSEC’s analysis found that the average rents for residential units in ZAPE (MOP121) and Coloane (MOP151) rose by 1.5% and 1.2%, respectively, quarter-on-quarter. The average rents for units in Doca do Lamau (MOP151) and Baixa da Taipa (MOP141) increased by 0.9%.

In contrast, the average rent for units in Areia Preta (MOP161) fell by 1.5%.

Rents also fluctuated according to the size of the units, with smaller apartments (up to 100 m²) rising by around 0.5%, while the price of larger units (150 m² or more) dropped by 1.2%.

For shops, the average rental price per square meter was MOP481 in Q2, down 0.8% quarter-on-quarter, while the average rents for office units (MOP286) and industrial units (MOP123) declined by 1.3% and 0.1%, respectively.

DSEC explained that the average rent for shops decreased compared to the previous quarter, due to new leases with relatively low rents. Analyzed by district, the average rents for shops in Barca (MOP332), Conselheiro Ferreira de Almeida (MOP332), Horta e Costa, and Ouvidor Arriaga (MOP461) fell by 3.5%, 2.2%, and 1.6%, respectively, quarter-on-quarter.

On the other hand, the average rents for shops in Areia Preta and Iao Hon (MOP454) and Baixa de Macau (MOP668) rose by 0.6% and 0.5%, respectively.

Compared with the second quarter of 2024, the average rents for office units, shops, and industrial units declined by 4.8%, 1.8%, and 0.9%, respectively, whereas the average rent for residential units grew by 3%.

Rental statistics are obtained from the Financial Services Bureau’s declarations of leased real estate for property tax purposes. The type of building unit is classified according to its end-use.

Statistical coverage includes renting the entire building unit with an unexpired lease, excluding units owned by the government or charitable organizations.