76 macau property
Seeing the light
Grey skies are forecast for this year’s property market. But as transactions begin
to regain some momentum, we could see sunshine by the end of 2009
by Alan Tso
J
aMes LaM, who complained in “I bought the apartment in late De- erty transactions has rebounded in re-
the March 2008 issue of Macau Busi- cember for just a little over HK$2.5 mil- cent weeks after three months of dismal
ness that skyrocketing house prices lion. This would have been unimagina- business. Among the good bargains out
had made it impossible for him to get on ble seven or eight months ago because there in the secondary market, posh
the property ladder, has just bought his Nova City is a high-end property. When properties such as the Praia, Nova City
first home with his fiancée. I enquired about the prices at Nova City and La Cite are very popular with local
With the help from the government’s in early 2008, the average price of a homebuyers, estate agents say.
credit assurance scheme and interest two-bedroom apartment was well over
rebates on mortgage loans – which are HK$3,000 per square foot,” says Lam. No freeze
designed to stimulate the housing mar- For many other people planning
ket in the wake of the global financial to buy their first homes, Macau’s recent According to Bank of China
meltdown – the 31-year-old mid-income consolidation in the property market is (Macau) and Seng Heng Bank, housing
earner is now the proud owner of a two not necessarily a bad thing. loan applications by local residents have
bedroom apartment at Nova City on And thanks to the government’s seen a remarkable rise lately, and the
Taipa Island. stimulus package, the number of prop- majority are for properties valued below
february 2009
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72  |  Page 73  |  Page 74  |  Page 75  |  Page 76  |  Page 77  |  Page 78  |  Page 79  |  Page 80  |  Page 81  |  Page 82  |  Page 83  |  Page 84  |  Page 85  |  Page 86  |  Page 87  |  Page 88  |  Page 89  |  Page 90  |  Page 91  |  Page 92  |  Page 93  |  Page 94  |  Page 95  |  Page 96  |  Page 97  |  Page 98  |  Page 99  |  Page 100  |  Page 101  |  Page 102  |  Page 103  |  Page 104  |  Page 105  |  Page 106  |  Page 107  |  Page 108  |  Page 109  |  Page 110  |  Page 111  |  Page 112  |  Page 113  |  Page 114  |  Page 115  |  Page 116  |  Page 117  |  Page 118  |  Page 119  |  Page 120  |  Page 121  |  Page 122  |  Page 123  |  Page 124  |  Page 125  |  Page 126  |  Page 127  |  Page 128  |  Page 129  |  Page 130  |  Page 131  |  Page 132  |  Page 133  |  Page 134  |  Page 135  |  Page 136  |  Page 137  |  Page 138  |  Page 139  |  Page 140