Lowest quarterly commercial rent level logged since Covid

 ago26

Macau’s business property rents continue to slide unabated, with the second‑quarter average more than 15 per cent below the pre‑pandemic level.

In the second quarter this year, a business property cost an average of MOP460 (US$57.06) per square metre to rent. This Q2 2024 level was down from MOP479 a year earlier, a drop of 3.9 per cent.

Back in the same period in 2019, the level stood at MOP542 per square metre, meaning the drop was over 15 per cent from then.

Between the second quarter of 2019 and that of 2026, the lowest level was recorded in the latter.

How about the residential landscape?

Renters of residential units paid an average of MOP140 per square metre for their property in the second quarter of 2026, up 0.7 per cent year on year, according to the Statistics and Census Service.

The Q2 2026 level, however, was still down by 6 per cent compared with MOP149 per square metres in 2021, five years ago.   

Back in 2019, the value was as high as MOP162 per square metre, the same as that of 2020’s second quarter.

This means that there was a slide of nearly 13.6 per cent from the pre-Covid level.

This fall from then persisted until 2023 at MOP130 per square metre, before a slight turnaround in 2024.

https://macaubusiness.com/worst-quarterly-commercial-rent-level-logged-since-covid/