Construction companies propose fewer economic houses

A group of construction companies has told the government that building many economic houses will create problems for Macau society, as people acquiring their places from the private sector will feel unfairly treated. This view was shared on Tuesday during a meeting with the Secretary for Transport and Public Works, according to the Portuguese language newspaper Jornal Tribuna de Macau. In the Special Administrative Region, there are two types of social housing. Social houses are built by the government or contractors to rent to deprived people, while economic houses are built by the government as a complement to the private sector and seeks to offer houses at affordable prices to Macau residents. However, the Macau General Association of Real Estate says those who buy houses in the private sector feel unfairly treated because they have to face high prices in the private sector, while the economic houses are cheaper. According to the association led by Chong Sio Kin the government should give priority to social housing instead of economic. The group of construction companies asked as well during the meeting with Raimundo Arrais do Rosário for the government to reduce the requirements for Macau people to have loans to buy their own houses. The construction companies also suggested that instead of building so many economic houses, the government should create a MOP6 billion fund to subsidise those who want to buy houses in the private sector in order to increase their purchase capacity.