Macau's residential market, like its commercial property market, saw a recovery in the second quarter.
According to Centaline Properties, more than 1,000 home transactions occurred last quarter, double the level from the previous quarter.
In April, Macau authorities announced they would lift key restrictions in an effort to boost the sluggish housing market.
April and May saw 269 and 346 transactions, respectively, and the upward trend is expected to rise to 450 in June alone.
New developments were the primary focus for residential real estate sales last quarter.
Centaline Properties said developers appeared to prioritise volume over price during the quarter, resulting in new units being discounted by 20-30%.
Demand was tilted towards new builds, as the second-hand market accounted for just a quarter of total transactions.
In terms of prices, the average price per square foot was about MOP7,000 (US$870) in the second quarter and is expected to rise to about MOP7,897 in the next quarter, down 10 percent from last year.
Commercial Real Estate
Owners of retail space were looking to sell their holdings at lower prices for cash in the last quarter, with around 92 transactions taking place, according to an analysis by real estate firms.
Zhongyuan Real Estate expects the number of transactions in the first half of this year to reach 173, up 26% from last year.
On the buy side, the proportion of investors has increased significantly compared to last year and the first quarter of this year, accounting for around 70%.
Real estate agents say the average return on such investments is at least 3.5 percent.
In terms of commercial leasing, there were 350 transactions in the second quarter, a 42% decrease.
The economic downturn is believed to be due to consumption trends in mainland China, which have worsened business confidence.
Conversely, rents are up 10 percent year-on-year, mainly due to strong interest in tourist destinations.