Rental market shows little movement in Q2

[Photo: Renato Marques]

The rental market showed little movement in the second quarter (Q2), with average residential rents declining 0.1% quarter-on-quarter to MOP140 per square meter of usable area, while rents for shops, offices and industrial units also recorded modest declines, according to the Statistics and Census Service (DSEC).

This follows Q1, when average rent per square meter of usable area for residential units fell by 0.4% quarter-on-quarter.

Overall, the drop is very slight and is largely considered indicative of stable prices.

Contributing to the result in Q2 were the average rents for shops (MOP460), office units (MOP272), and industrial units (MOP116), which fell by 1.5%, 0.6%, and 0.3%, respectively, from the previous quarter.

As for residential units, average rents in Areia Preta (MOP159) and ZAPE (MOP123) fell by 2.6% and 0.6%, respectively, quarter-on-quarter, due to relatively low rents for new leases.

On the other hand, the average rents for units in Doca do Lamau (MOP147) and NAPE & Aterros da Baía da Praia Grande (MOP149) grew by 1.6% and 0.4%, respectively.

For usable area, average rents for residential units of 150 square meters or more (MOP125) and those between 100 and 149.9 square meters (MOP130) rose by 0.3% and 0.2%, respectively, quarter-on-quarter. In comparison, the average rent for spaces with a floor area of less than 50 square meters (MOP168) fell by 0.7%.

As for commercial spaces, average rents for shops in the Barca area (MOP298) and Conselheiro Ferreira de Almeida (MOP305) fell by 2.7% and 1.9% quarter-on-quarter, respectively, while the average rent in Downtown Macau (MOP661) rose by 0.7%.

Compared with Q2 2025, the average rent for residential units grew by 0.7%, while that for industrial units fell by 5.1%. The average rents for shops and office units both fell by 4.1%.

The DSEC noted that the rental statistics are obtained from real estate leasing declarations for property tax submitted to the Financial Services Bureau (DSF), which cover legally registered rental contracts.

The type of building unit is classified according to its end use in property registration.

Statistical coverage includes the rental of the entire building unit with an unexpired lease, excluding units owned by the government or charitable organizations as well as other reduced- or subsidized-rent spaces or units.

The DSEC did not disclose what percentage of units are effectively rented to tenants under rental agreements that are not registered with the DSF, meaning landlords are not taxed on income arising from such leases.