Macao’s residential prices hit a 13-year low in the second quarter of 2026

Macao’s residential prices are continuing to slump, with the average residential price per square metre standing at just HK$68,000 (US$8,670) in the second quarter of this year, down 4 percent year-on-year. This represents its lowest value in 13 years, according to a report shared by realtors Centaline yesterday, which reviewed the state of the local property market in the first half of 2026 and the outlook for the rest of the year. 

Speaking to local media, Centaline noted that Macao’s residential prices on average per square metre were HK$72,638 (US$9,261) in the first quarter.

Roughly 2,097 properties were sold in the initial six months of this year, up by approximately 50 percent year-on-year. Centaline does not expect this momentum to persist however, pointing out that during the first and second quarter buyers were eager to take advantage of stamp duty waivers, which were introduced at the beginning of the year. 

Jimmy Lo, the senior regional sales director of Centaline’s local residential department, explained that the stimulus boost from the measure had gradually worn off, adding that Macao’s residential prices had “already fallen before rising,” with anxiety over an interest rate hike in the second half of this year also impacting market sentiment. 

Meanwhile, Centaline’s Yes Lee, a senior regional sales director, stated that sales of commercial and industrial real estate in the first and second quarters totalled approximately 65 and 84 units respectively. In total, roughly 149 properties in this category were sold, down by nearly 20 percent year-on-year. 

Outlook for Macao’s residential prices

Looking ahead, Stanley Poon, Centaline’s local managing director, said the overall outlook for Macao’s residential prices was “relatively pessimistic” and that the sector’s prospects remained unclear in the short-term. 

He noted that the market faced pressure from banks tightening their credit lending and possible US interest rate increases in the last half of this year. 

[See more: Shenzhen property market sees significant recovery momentum]

Outside of Macao, the Greater Bay Area’s (GBA) property market remained robust, with Centaline noting that the region’s property index reached a ten-month peak in May. That month saw the GBA’s index grow by 2.3 percent – its fourth straight month of increase. 

Zhuhai’s property market fared poorly in the second quarter, with transactions totalling 5,360, down 14 percent quarter-on-quarter. Average prices per square metre dipped by 3 percent, hitting 18,150 yuan (US$2,673). 

Similarly, sales in Hengqin were on a decline in the second quarter, plummeting by 55 percent quarter-on-quarter to 385 transactions.