20.7 C
Macau
Tuesday, March 28, 2017
Simplifying renewal procedures for real estate licences and reducing fees for applications needed.
Non-residents are being granted more and more mortgage loans by the city’s banks. Meanwhile, locals still account for the largest share of mortgage loans, whilst asking for less funding

A buyer’s market

Compared to June of 2015, housing transactions jumped nearly 32 per cent last month, as prices fell.

Under the hammer

It’s auction time. Two plots of land in Hengqin New Area are reserved for Macau bidders only. Starting price for the two lots is 294 million yuan (MOP378 million). The areas are planned for commercial and office use with a lease of 40 years
The Infrastructure Development Office (GDI) will re-open a public tender for the suspended construction contract of the Mong Ha Social Housing Phase 2 and the reconstruction of the Mong Ha Sports Pavilion’s basement next Thursday, according to an announcement by the...
Government decides not to directly adjust the reconstruction of the old building to Portuguese architect Siza Vieira.
Hotel Estoril’s future yet to be decided. New Macau Association has petitioned the Urban Planning Committee, urging preservation of the site and demanding more public discussion before a possible demolition. Committee members voice concern that Macau would be losing its history and originality if the hotel were to be demolished.
The government is studying potential alterations to its urban planning for the reclamation area located in Cotai, which may involve gaming and hotel projects, the director of the Transport Bureau (DSAT), Lam Hin San, revealed in reply to an...
The Housing Bureau had received 15 new applications for Social Housing Temporary Subsidies by the end of September, of which one application has been approved, according to the Bureau’s press release yesterday. The financial-aid scheme, which has been extended to...

Undecided future

Government intends to build public housing on La Scala plot, but local courts are still hearing the developer’s appeal.
Macau’s residential and office sectors continued to grow in 2014. On the back of limited supply and the increasing number of new corporations registering in the city.
Regarding outstanding balances, residential mortgage loans remained virtually unchanged from the previous month while commercial real estate loans decreased.

Land Swap Solution

Secretary for Transport and Public Works Rosário has a solution. Saying the government’s land debts will be repaid by reclaimed idle land. The Chief Executive recently revealed that the gov’t still owes private entities some 88,806 square metres of terra firma.
With the city’s gaming, retail, and tourism sectors all heading south, local real estate agencies say the property market is also affected; shops in tourism areas are affected most with both sale prices and rentals down
The government received 221 opinion papers regarding the distribution of public housing units to residents during a public consultation period running for 90 days last year, amounting to 310 total opinions divided into 11 main themes. The Housing Bureau...
Property developer Country Garden Holdings Ltd. achieved a total of RMB87.26 billion (MOP100.7 billion) in contracted sales for the first two months of the year, according to the group’s filing with the Hong Kong Stock Exchange. The company operates primarily...
Yesterday, the government declared two more land grants invalid as land awardees had failed to fulfil land use purposes, according to yesterday’s Official Gazette. One land plot that the government is to reclaim was granted to a company called Polymar...
The continuous drop in housing prices has stimulated a rebound in total home transactions, with the number staying at the one-thousand level for a second consecutive month.

Where to call home

A strong demand exists, but a mismatch of supply and demand continues to limit end-user purchases.
Properties between MOP2-3 million seen as most attractive in March.
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