Information from the Statistics and Census Service (DSEC) indicated that a total of 5,197 building units and parking spaces were purchased and sold in 2024 as per Stamp Duty record, an increase of 17.7% year-on-year. The total value of transactions was MOP28.04 billion, up by 20.7%. The overall average price per square metre of usable area of residential units (MOP85,114) dropped by 9% year-on-year. Number of residential units that were issued the licence of use was 640.

In 2024, purchase and sale of residential units went up by 501 year-on-year to 3,380 units, and the total transaction value swelled by 11.1% to MOP20.33 billion. The transaction values of existing residential units (3,023 units) and pre-sale residential units (357 units) amounted to MOP18.48 billion and MOP1.85 billion respectively.

In 2024, the overall average price per square metre of usable area of residential units dropped by 9% year-on-year; the average prices of those in the Macao Peninsula (MOP78,751), Taipa (MOP93,896) and Coloane (MOP99,617) fell by 12.5%, 3.6% and 7.3% respectively. The average price of existing residential units (MOP83,126) dipped by 10% year-on-year, whereas that of pre-sale residential units (MOP124,323) increased by 1.2%. As regards non-residential units, the average prices of office units (MOP69,729) and industrial units (MOP39,268) went down by 21.7% and 16.9% respectively year-on-year.

A drop in transactions of existing residential units and a rise in transactions of pre-sale residential units in the fourth quarter

Analysed by quarter, purchase and sale of residential units dropped by 13       quarter-on-quarter to 884 units in the fourth quarter of 2024. The total transaction value fell by 3.5% to MOP5.08 billion. Existing residential units transacted totalled 782, a decrease of 39 units quarter-on-quarter; the transaction value slid by 7.8% to MOP4.51 billion. On the other hand, number of pre-sale residential units transacted rose by 26 quarter-on-quarter to 102, and the transaction value grew by 51.8% to MOP575 million.

The overall average price of residential units was MOP76,071 in the fourth quarter, down by 12.1% quarter-on-quarter. The average price of existing residential units decreased by 11.4% quarter-on-quarter to MOP75,076. The transacted units were mainly in Baixa da Taipa (131 units), NATAP (81 units) and Areia Preta & Iao Hon (64 units), and the respective average prices per square metre were MOP81,905, MOP83,563 and MOP57,983. Meanwhile, the average price per square metre of pre-sale residential units dipped by 10.7% quarter-on-quarter to MOP118,424.

The average price per square metre of office units decreased by 18.8% quarter-on-quarter to MOP65,234, whereas that of industrial units increased by 3.2% to MOP32,566.

New residential construction consisted mainly of small units

As regards construction in the private sector, there were 5,192 residential units in the design stage, 1,771 under construction and 298 under inspection as at the end of 2024. For the whole year of 2024, a total of 640 residential units were issued the licence of use, with 235 units in the Macao Peninsula and 396 units in Coloane. Meanwhile, 107 residential units were issued the construction permit, and 106 of them were situated in the Macao Peninsula.

In the fourth quarter of 2024, 97 residential units were issued the licence of use, of which 82.5% were studio flats and 13.4% were two-bedroom units. Besides, 26 residential units were issued the construction permit, all of which were studio flats located in the Macao Peninsula.