Macau | More time to observe real estate market after measures implemented - Chief Executive

"It takes some more time to observe the development of the market," said the Macau SAR Chief Executive (CE) Fernando Chui Sai On prior to attending the opening ceremony of a Chinese New Year event on Thursday

Macau (MNA) – “It takes some more time to observe the development of the market,” said the Macau SAR Chief Executive (CE) Fernando Chui Sai On prior to attending the opening ceremony of a Chinese New Year event on Thursday.

Many people have expressed the opinion that the policy assisting young people to purchase their first home by easing mortgage loans is in fact pushing prices up for flats originally costing MOP3.3 million or below.

“This policy was created after a long period of study,” said the CE. “We had also previously explained that we are currently going through a period of brisk sales for the real estate market.”

Mr. Chui added they should wait for the actual outcome in order to be able to decide upon their next step.

“We hope to assist young people to be able to purchase their own house but [they should have the consideration] of being able to undertake the financial burden and risks,” reiterated the CE.

He further assured that the Financial Services Bureau (DSF) and Macao Monetary Authority (AMCM) will continue to pay close attention to the city’s real estate market “to ensure the healthy development of the market”.

“We also value the reservation and supply of land plots . . . [and] . . . hope to expedite the progress of approving more land for creating more supply of housing to the market,” pledged the CE.

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