Residential rents rise

The average rent per square meter of usable area for residential units in Macau was MOP130 in the third quarter of 2023, up 0.8% quarter-on-quarter, according to data from the Statistics and Census Service (DSEC). Among the districts with a relatively high number of lease declarations, the average rent for residential units in NATAP (MOP153), Barca (MOP116) and NAPE & Aterros da Baía da Praia Grande (MOP131) increased 4.8%, 2.7% and 1.6% respectively. The average rent per square meter of usable area for office units fell 1.0% quarter-on-quarter to MOP302, while that for industrial units climbed 1.6% to MOP124.