By Tony Lai
residential property market amid the trade war and other factors, observers say the local home market will likely
remain unscathed as long as casinos here don’t lose their glitz.
power and won’t lower asking prices easily due to fluctuations in the macro economy,
“
SAY S LILY HONG, SALES DIRECTOR OF MIDLAND MACAU.
” 20 JANUARY 2019
Macau home sellers have ample financial
With more bearish signs evident for the Hong Kong and Mainland Chinese
Propertyroulette O
n the heels of the first interest rate hike for more than a decade, coupled with the continuous simmering trade war between China and the United States, Hong Kong has seen more and more homeowners
offer steep discounts for property sales in recent times, while new residential projects have failed to generate the hot sales they once did. The situation has led to more bearish calls for the Hong Kong home property market, as well as the Mainland Chinese sector, in the near future. What about Macau? Pundits believe the number of residential transactions might shrink despite the push by some project developers, although prices could remain stable – at least for now. Dong Fu Ye Property Development Co. Ltd. launched about 100 more flats at its luxury Waterfront Duet residences near the Macau Yacht Club in Fai Chi Kei for presale in November. The project, which has offered presales in phases since January, comprises some 1,000 units in all and will be completed by the last quarter of 2019. Developer chairman Chong Siu Kin is not worried about recent negative market sentiment. “There’s not much room for the local property
price to go down as demand still outstrips supply here,” he says, adding that the recent opening of the Hong Kong-Zhuhai-Macau Bridge, which reduces land travel time in the region, could help boost the market. “Although local lenders have raised the interest rate in recent times, the increment is not big and will not significantly deter buyers.” In the face of a series of interest rate hikes in the US since 2015, local banks did not follow suit for
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