June sees rise in residential property transactions despite slight price dip

Residential property transactions in June totaled 219 units, marking a monthly increase of 23 transactions or 11%, according to the Financial Services Bureau’s latest stamp duty data on asset transfers.

This rise indicates a modest rebound in the housing market activity compared to May.

However, the average price per square meter of usable residential space in June slightly declined to MOP 69,254, down by MOP 481 or 0.6% from the previous month.

The small price drop suggests a stabilization after previous fluctuations in the market.

For the first half of the year, cumulative residential transactions reached 1,380 units, reflecting an 11% year-on-year decrease.

The second quarter alone accounted for 698 transactions, with an average price per square meter of MOP71,866.

Government data shows that residential property price index fell to 200.7 points between March and May, marking a 1.4% drop from the previous quarter and an 8.7% decrease compared to the same period last year.

According to the Statistics and Census Service (DSEC), both existing and pre-sale residential units contributed to the decline, with prices falling 1.4% and 0.8%, respectively.

The downturn impacted all major districts: the Macau Peninsula’s index slipped 1% to 198.7, while Taipa and Coloane experienced a sharper 2.8% drop to 208.7. Year-over-year, these areas saw losses of 8.5% and 9.5%.

Mark Wong of JLL Macau recently said that prices have dropped over 20% since the pandemic peak, with some units declining as much as 30%. High financing costs and weak demand have forced developers into aggressive pricing strategies.

Stamp duty data shows 682 transactions in Q1 2025, compared to 3,057 for the full year 2024. Times Reporter