Property prices slide across all districts

The city’s residential property price index falling to 200.7 points between March and May 2025, marking a 1.4% drop from the previous period and an 8.7% decrease compared to the same time last year.

Latest figures from the Statistics and Census Service (DSEC) show that the existing and pre-sale residential units contributed to the slide, with prices falling by 1.4% and 0.8%, respectively.

The downturn affected all major districts: the Macau Peninsula’s index fell by 1% to 198.7, while Taipa and Coloane saw a sharper 2.8% decline to 208.7. Year-over-year, these districts posted losses of 8.5% and 9.5%, respectively.

In terms of property age, even newer apartments are not immune. Units aged 11 to 20 years fell by 2%, those 6 to 10 years old dropped by 1.6%, and units under five years declined by 1.4% from the previous period. The steepest declines were recorded in units sized 75 to 99.9 square meters, which fell by 2.4%, indicating that mid-sized properties – often favored by local families – are particularly affected.

Mark Wong, senior director of Value and Risk Advisory at JLL Macau, recently said, “Macau’s home prices have plunged since the pandemic, with overall prices dropping over 20% from the market peak. Some units have even seen declines of up to 30%.”

He attributed the downturn to high financing costs and subdued demand, noting, “Developers have to adopt aggressive pricing strategies to boost home sales.”

In January, Centaline Property forecasted a “U-shaped” recovery for Macau’s property market in 2025. Shih Wing Ching, founder of Centaline Group, linked early-year market pressure to uncertainties surrounding the U.S. presidential transition and lingering investor pessimism.

According to stamp duty data from the Financial Services Bureau, 682 property transactions were recorded in the first quarter of this year. In 2024, Macau recorded 3,057 residential property transactions.