Macau | City's property prices appear to be going down – essay competition awardee

The city's property prices are likely to decline considering the recent increase in the base rate by the Federal Reserve as well as the slowing inflation rate, opined Tang Cheok Fai, the first prize awardee in the public category of an essay writing competition hosted by the Macau Economic Association

Macau (MNA) – The city’s property prices are likely to decline considering the recent increase in the base rate by the Federal Reserve as well as the slowing inflation rate, opined Tang Cheok Fai, the first prize awardee in the public category of an essay writing competition hosted by the Macau Economic Association.

Speaking to the press after the ceremony of the essay competition on Saturday, Mr. Tang explained that the city’s housing prices are highly affected by the base rate set by the U.S. Federal Reserve and the city’s inflation rate.

Although commenting that the Macau SAR Government has little to do with cooling down the prices, Mr. Tang suggested that tougher mortgage ratios could be implemented for buyers who already own two to three properties.

When asked how the MSAR Government could resolve the difficulties encountered by first time buyers, Mr. Tam noted that it would create more negative impacts to first-time buyers if housing prices plummeted, even if buyers succeeded in purchasing a house via a very low mortgage ratio.

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