Centaline anticipates return of ‘Hengqin heat’


The tightened housing curbs of Zhuhai are leading investors to shift their focus back to Hengqin, said realtor Centaline (Macau) Property Agency Ltd. in its latest property review and forecast.
‘The new restrictions make investors originally interested in Zhuhai property look for new destinations,’ the company wrote. ‘Following the implementations of several Hengqin-favouring policies, the gradual completions of auxiliary facilities and the commencements of infrastructure . . . buyers are gaining even more confidence in the Hengqin market.’
Earlier this month, Zhuhai imposed tighter restrictions stipulating that a residential unit can only be resold three years after the property certificate is obtained, while non-Zhuhai citizens are only allowed to make residential purchases after they have paid government taxes or contributed to the social security fund there for five years, up from the previous requirement of one year.
According to the real estate agency, property transactions in Hengqin totalled 442 in the first quarter of this year, plunging 70 per cent year-on-year, or 63 per cent quarter-to-quarter.
The realtor claimed the decrease is due to the reduced supply on the Mainland Island since the last quarter of 2016. But it expects a total of 15 new projects will be launched for sale in the near future, the units of which will primarily be apartments or office units.
‘It is expected that the future property transactions in Hengqin will primarily be of office units and commercial units, which will boost market sentiment following more enterprises launching their offices there,’ it wrote.