Private sector transaction value grows 20.7% in 2024

The total value of real estate transactions in the private sector in Macau in 2024 increased by 20.7% year-over-year to MOP 28.04 billion, according to official statistics released by the Statistics and Census Service (DSEC).
In total, 5,197 building units and parking spaces were bought and sold in 2024, according to the Stamp Duty record, an increase of 17.7% year-on-year.

The purchase and sale of residential units rose by 501 year-on-year to 3,380 units, with the total transaction value swelling by 11.1% to MOP 20.33 billion. The transaction values of existing residential units (3,023 units) and pre-sale residential units (357 units) amounted to MOP 18.48 billion and MOP 1.85 billion, respectively.

The number of residential units issued a license of use was 640.
On the other hand, DSEC also noted that the overall average price per square meter of usable area for residential units (MOP 85,114) dropped by 9% year-on-year.

Units located on the Peninsula contributed most to this price drop, with the average price per square meter at MOP 78,751, representing a 12.5% drop.
Units in Coloane also saw their average price per square meter drop by 7.3% to MOP 99,617, while in Taipa, prices remained more stable, decreasing just 3.6% to an average of MOP 93,896.

The average price of existing residential units (MOP 83,126) dipped by 10% year-on-year, while that of pre-sale residential units (MOP 124,323) increased by 1.2%.
In non-residential units, the average prices of office units (MOP 69,729) and industrial units (MOP 39,268) decreased by 21.7% and 16.9%, respectively, in 2024.

Small units dominate new residential construction

Regarding new construction in the private sector in 2024, there were 5,192 residential units in the design stage, 1,771 under construction, and 298 under inspection.
For the entire year of 2024, 640 residential units were issued a license of use, 235 of which were in the Macau Peninsula and 396 in Coloane.
Meanwhile, 107 residential units were issued construction permits.

Almost all of them (106) were located on the Peninsula.
According to the fourth-quarter (Q4) statistics of 2024, most residential units that received a use license were studio apartments (82.5%), while 13.4% were two-bedroom units.

decreased interest in existing units but a rise in pre-sale

The last quarter (Q4) of 2024 saw a drop in transactions of existing residential units but a rise in pre-sale residential units.
Analyzed by quarter, the purchase and sale of residential units dropped by 13% quarter-on-quarter to 884 units in Q4 2024, with the total transaction value falling by 3.5% to MOP 5.08 billion.
The total number of existing residential units transacted was 782, a decrease of 39 units quarter-on-quarter.

The transaction value slid by 7.8% to MOP 4.51 billion.
On the other hand, the number of pre-sale residential units transacted rose by 26 quarter-on-quarter to 102, while the transaction value grew by 51.8% to MOP 575 million.
The units transacted were mainly in Taipa Downtown (131 units), Areia Preta New Landfills (81 units), and Areia Preta & Iao Hon (64 units).

The average prices per square meter were MOP 81,905, MOP 83,563, and MOP 57,983, respectively.
The average price per square meter of pre-sale residential units dipped by 10.7% quarter-on-quarter to MOP 118,424.
The average price per square meter of office units decreased by 18.8% quarter-on-quarter to MOP 65,234, whereas that of industrial units increased by 3.2% to MOP 32,566.