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Property | Market Watch
Betting on the bridge D
Down in July, up in August; the real estate market has lacked drive this summer but the cross-Delta bridge has the potential to stimulate higher prices
BY ALAN TSO espite summer’s rising tem-
peratures, the volume of hous- ing sales cooled in July before
spiking again in August, but it is the Hong Kong-Zhuhai-Macau Bridge that is shaping up to provide real heat to the market. According to the most recent gov-
ernment data, there were 1,204 homes sold in July – down 11 percent on last year – with a total value of about MOP2.64 billion, a fi gure which is four percent less than one year ago. July is traditionally considered the low season for the housing market. Sales volumes for August were not available at press time but leading
OCTOBER 2010
Macau real estate agencies say the mar- ket has again picked up steam. In particular, the market for second
homes has performed better than ex- pected, thanks in part to the sales launch of
the second phase of the upmarket
One Oasis project near the Cotai Strip. About 40 apartments in the luxury con- dominium were sold through Centaline Property Agency in August. The topsy-turvy results come after
a golden second quarter that saw more than 5,000 homes sold.
A bridge to value Apart from the Cotai Strip, the Oriental Pearl district, in the Areia Preta recla-
mation area, has also stirred intense in- terest among homebuyers and investors. It is here that the Hong Kong-Zhuhai- Macau Bridge will make landfall. Although the ambitious project is
six years from completion, prospective buyers seem eager to take advantage of the “bridge factor”, a phenomenon that is widely expected to push up prices in the area. The bridge is touted as the most im-
portant infrastructure project in South China in years.
It will bring the two
banks of the mouth of the Pearl River closer together than ever before, speed- ing up the creation of a single economic entity comprising Guangdong, Hong
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