Lawmaker says property market has bottomed out

Lawmaker Kevin Ho said Macau’s property market appears to have passed its lowest point, expressing cautious optimism about a gradual recovery while urging efforts to strengthen the local economy.

Speaking to reporters on the sidelines of a Legislative Assembly media spring luncheon yesterday, lawmaker and president of the Industry and Commerce Association of Macau Ho said the housing sector has begun to stabilize.

He said the market has moved past its sluggish phase but has yet to enter a period of rapid growth, adding that residential rents have largely stabilized and are beginning to edge higher.

Although the timing and strength of a rebound remain unclear, he projected that average home prices could record an increase of about 5% this year.

Ho said commercial properties, including office units and street-level shops, continue to face pressure.

Their performance, he added, will depend on the city’s overall economic climate, including the effectiveness of government-led investment and industry funds in attracting new investors, as well as talent recruitment policies aimed at drawing skilled professionals and entrepreneurs to the city.

Data from the Financial Services Bureau (DSF) showed that 384 residential property transactions were recorded in the first half of January, marking the highest level for the period since 2018.

Market activity more than tripled compared with the same period last year.

Market momentum was most evident on the Macau Peninsula, which accounted for the majority of transactions, with a total of 299 deals recorded in the area, a sharp increase from the 96 transactions registered in the same period a year earlier.

The lawmaker also addressed community economic revitalization, noting that consumer vouchers alone cannot fully stimulate local districts, as spending often concentrates among a limited number of businesses.

Speaking on the traditional post-holiday slow season before the May Day holiday, Ho said visitor arrivals remain steady, but policies should focus on distributing tourist flows across different neighborhoods.

He also called for clearer coordination in district revitalization efforts, emphasizing long-term planning and differentiated development to build sustainable community economies.