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Macau
Thursday, June 22, 2017
The director of the Macau General Association of Real Estate (AGSIM), Ip Kin Wa, says transactions and prices of the real estate market this year will both experience slight increases of 5 per cent, local Chinese newspaper Macao Daily...
Accepting applications for social housing units on a permanently open basis is both feasible and important, according to legislators contacted by Business Daily. The Legislative Assembly meets today to discuss whether the government should open up tenders, and a permanent...
A proposal to debate if restrictions should be imposed on non-residents regarding the sale of future housing developed in the MSAR New Areas was rejected by the Legislative Assembly, with legislators asking the government to develop a concrete plan as to which new housing developments will be public and private

Buyer Beware

It’s a thorny issue. Property legislation currently being debated in the Legislative Assembly proposes buyers assume management arrears pending property acquisition. Potentially fuelling unfair situations. Various scenarios were debated during the second standing committee yesterday. Caveat emptor.
The price of housing units grew both m-o-m and y-o-y
The government has objected to the Urban Renewal Committee’s suggested arrangement of social and economic housing for residents awaiting renewed accommodation
Two junket promoters are pursuing debtors in the Court of First Instance for monies owed, calling in a housing unit and a commercial unit put up as collateral, according to court announcements. Junket group Tak Chun is seeking the...
Legislators request a revision of the Land Law by the CE, in order to solve existing issues pertaining to expirations of land concessions and the rights of landowners
Commercial real estate loans and residential mortgage loans both increased in April this year by 76.7 per cent and 19 per cent y-o-y, respectively, however on a monthly comparison both indicators saw decreases
New deals awarded to the Macau SAR Government’s ‘biggest contractor’ down 44 pct y-o-y, totalling nearly MOP2.51 billion for the five first months of 2017
STDM has been authorised by the government to use a 3,876 square metre area near Lotus Square for 21-storey housing and commercial building
The chairman of the developer of Sky Oasis The Lux Mansions was positive about the demand for the rare luxury flats
The Cultural Affairs Bureau claims to be diligently working to amend heritage preservation problems recently raised by UNESCO’s heritage arm. But hints that progress in urban planning might have saved them the extra pain
Still too early to tell. So says Secretary for Economy and Finance on the effect of the reduction of the ratio of mortgage loans. Keeping an eye on the market is the current status quo, with no new measures to be introduced. Also, the six gaming operators will have to prepare a report on security and reinforce security measures in the wake of the Philippines attack, says Secretary Leong.
Construction near heritage sites, urban planning, transportation planning and creating jobs in this field, will all be necessary to preserve the city’s heritage classification. Otherwise, the city risks putting itself ‘in danger’ or being de-listed from UNESCO’s list, heritage expert Sharif Shams Imon tells Business Daily. Not only informing and encouraging public participation, but also counting on experts will be necessary measures to implement.
The number of non-resident workers in the construction industry dropped 20 per cent from 43,000 in January of last year to 34,000 last December, according to the official data produced by the Labour Affairs Bureau (DSAL). Given that several significant...
The Court of Second Instance has ruled against the judicial appeal lodged by property developer Sinca – Sociedade de Indústrias Cerâmicas, Limitada - whose land concession for a plot located in Pac On reclamation Zone D in Taipa was...
The market for alteration and extension works, due to constant renovations and redecorating, and increased demand for housing units, will drive up income from such projects to MOP6.2 billion by 2020, as compared to MOP3.5 billion in 2015, according...
Government awards architect Chan Hou Kuan with MOP38.5 million contract development plan for public housing to be constructed on site of old power plant on Avenida Venceslau de Morais
With the high demand for social housing units in the city, the Housing Bureau stated that the government is considering including regular social housing applications in the new system, but added that the new arrangement can only be made...
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