【Global Property Guide】Macau’s housing market is weakening

Macau’s housing market is now cooling rapidly. Slower economic growth in Mainland China and the civil unrest in Hong Kong are hitting Macau’s gaming and property sectors.

During the year to Q2 2019, the average transaction price of residential units in Macau rose by a modest 2.5% to MOP 110,263 (US$13,611) per square metre (sq. m), according to the Statistics and Census Service (DSEC). This was a sharp deceleration from the double-digit price increases from late-2016 to early-2018. When adjusted for inflation, prices fell slightly by 0.2%.

Figures from global real estate firm JLL showed that values of high-end and mass-to-medium residential properties in Macau fell by 3.5% and 1.8%, respectively, in H1 2019 from a year earlier.

Both demand and supply are plummeting. In H1 2019, residential property transactions in Macau fell by 38.6% y-o-y to 4,104 while transaction values plunged 42.1%. 

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