81
Survival
of the fittest
It seems people have faith
in the government’s policies
towards the property market
T
rust will return to with the bank, the govern-
the property market as ment will assume part of the
soon as the government down payment, provided the
reveals the details of its plans buyer takes up 10 percent of
to reduce interest rates on the amount, noting that the
loans for first home buyers. administration participation
While the financial cri- is limited to 20 percent of the
sis has affected the wages property’s worth.
of many residents employed “People are just wait-
in the gaming sector, it has ing for more details. There
made more feasible some- are some questions that need
thing that until a couple of clarifying. How the credit
months ago was but a dream system will work in reality is
for most of the population - one of them. We have to wait
owning their own home. for the regulations,’’ says
A packet of social meas- Risdon.
ures presented by the chief Jones Lang La Salle is
executive as part of the Gov- playing the same waiting
ernment’s Policy Guidelines game: “The subsidies scheme
for 2009 will restore trust in may help the residents ac-
the market. People will want quire their own homes but
to invest – as soon as they they need to know more
learn more details of the gov- about it,’’ says the company’s
ernment’s reduced interest Jeff Wong.
rates plan. The agent says the re-
This is the hope of real maining announcements –
estate agents. such as the reinforcement in the market restored and will stabilise on the Barack
of the Administration De- recover their will to invest,’’ Obama factor. Those with a
Waiting game velopment Investment and Wong adds. secure job ought to take ad-
Expenses Plan and the new According to data from vantage of this opportunity,’’
Edmund Ho’s visit to the credit system for Small and the Statistic and Census Bu- says Wong.
Legislative Assembly has Medium Enterprises – will reau, 2,785 housing units For Risdon Lawson and
already altered the routine lead more people to consult were traded during the third Lo 2009 will not be a better
at realtors Risdon Lawson real estate agencies. quarter of 2008 - 30 percent year but one with opportuni-
and Lo. fewer than in the previous ties: “We’ll use it to reassess
The new year began with No match quarter - for a total MOP3.88 our strategy, for example,’’
an increase in the number of billion patacas, which also says Risdon.
customers, says Juliet Risdon. “With all these measures, corresponds to a 5.8 percent She believes the slump in
The chief executive an- the local market won’t have a decrease for the same period. the sector has had the same
nounced that those buying match in any other Asian city. Also in the acquisition effect as natural selection: “It
their first home, providing Macau will be a more stable and sale of the units, accord- made the market more realis-
the unit’s value doesn’t ex- city than in 2008. The Leh- ing to the official payable tic, allowing the profession-
ceed MOP3 million, will be man Brothers case, restric- stamp duty, the outlook was als to remain while weeding
entitled to reduced interest tions on daily visas and the bleak – a 42.4 percent drop out those who didn’t know
rates of around four percent. suspension of work on Cotai when compared to 2008 sec- what they were doing”.
It works like this: when created a dire scene. But the ond quarter. For 2009, only the strong
signing the loan agreement residents will see their faith “The real estate market will remain.
february 2009
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