30.6 C
Macau
Friday, July 21, 2017
Off-plan sales of new residential projects are being launched one after another. Nova Grand from Shun Tak Group is the latest one, seeing the sale of 400 units completed in three days. Purchasing power is apparently strong and has been building up in the past few years, local property agents say, adding that the city needs much more supply.
During the first three months of 2017, prices of residential housing in the city further grew having gained momentum in the first quarter of last year, with the overall residential price index reaching 244, according to the latest data...
Chinese property developer group Logan Property Holdings Company Limited reached RMB3 billion (MOP3.5 billion/US$443.8 million) in contracted sales in October, 2016, an 8.7 per cent year-on-year increase from the same period of last year, according to a company filing...
Pearl Horizon homeowners have announced they will stop repaying their mortgage loans
With the assistance of the Housing Bureau, some 280 management committees have been set up in the city. According to the latest data released by the Bureau, it assisted 1,296 cases related to housing management-related affairs in the first...
Property developer Agile Group Holdings saw a 64.3 per cent increase in its profit for the 2016 year, according to the group’s filing with the Hong Kong Stock Exchange. Total profit attributable to shareholders reached RMB2.28 billion, while revenue...
Yesterday, the local Legislative Assembly (AL) passed the law revision of two measures - money laundering measures and countering the financing of terrorism – through a series of alterations to Articles in the two relevant laws currently in effect. Although...
Yesterday, junket operator Tak Chun Group opened its VIP operation in Studio City with nine gaming tables, according to a press release by the company. According to the release, its VIP operation in the Melco Crown Entertainment property is named...

Doubling Up

More residential units were purchased and sold last month. Even though home prices were more expensive. According to Financial Services Bureau data. Which reveals total housing transactions exceeded 1,100 last month. Nearly double those of a year ago. And double those of a month earlier.
Real estate in the MSAR continues its upward trajectory. With total transactions increasing dramatically in January. Despite an astounding 60 per cent rise, however, the sector has started to moderate its performance compared to a hectic end to 2016.

House rules

The Housing Bureau found 49 cases of suspected irregularities by owners of government public housing in 2016
Housing transactions fell m-o-m in November, with a 62 pct drop in sales in Coloane on the tail of new luxury residential sales the previous month. Housing prices stabilised, with a 1 pct m-o-m increase and a 20 pct y-o-y increase in average home prices. Total home transactions surged 122 pct y-o-y for the month.
The city’s housing market reversed its downtrend in Q2 last year. Posting a q-on-q increase of 6.8 pct in home prices. Although the residential price index of 2016 is still lower than that of 2015, according to the Statistics and Census Service (DSEC).
Polytex said in its appeal to top court that the seizure of the land plot could potentially bring about the bankruptcy of the company.
Legislator and Urban Planning Committee members in general agree that more land should be reclaimed to meet current demand and for Macau’s future development
Reduced ratios for granting mortgages have been announced. Buyers intending to acquire second residences will get less credit. The pricier the home, the lower the percentage extended. Allegedly to reduce speculation and favour local buyers.
Even with its windowless, rusting facade it remains an icon of headier times in the city. Located at the end of San Ma Lo, and first opening its doors in 1941, new life is to be breathed into the Grand Hotel. When - gov’t licences willing, and two years later – it should blossom into a boutique hotel.

Whose fault is it?

Another statement by the city’s land awardees as they argue that they are not responsible for the non-development of their awarded plots
Housing units in the pipeline were up 7.7 pct in Q1. With 503 new units obtaining licences, a 304 pct y-o-y uptick. The Peninsula will continue to supply the most new-builds, 85 pct of which will be smaller than 75 sq. m. While Taipa and Coloane focus on larger units. For public housing, the gov’t promises to open a new tender this year for units currently in the pipeline - but with no promises on division between economic and social housing.

Road Works Ahead

Yesterday’s Legislative Assembly said it: worsening traffic next year. Secretary for Transport and Public Works Raimundo do Rosário confirmed road works will increase in 2017. He also elaborated upon pressing housing issues and the supply of materials.
- Advertisement -