Macau | Legislative Assembly passes measure on stamp duty for non-first-time buyers

Macau (MNA) – The Legislative Assembly (AL) passed the final reading on Wednesday for the measure to increase stamp duties for buyers who purchase more than one house.

The bill proposes that buyers who purchase another property will need to pay a stamp duty of 5 per cent for their second unit, and 10 per cent when purchasing a third unit or more.

On Tuesday, the AL also passed a measure to cancel property tax exemptions for empty units, thereby encouraging the increase of unit supply in the real estate market.

Meanwhile, the Macao Monetary Authority (AMCM) is also introducing a policy to allow qualified young people to receive home loans of 80 to 90 per cent to purchase their first flat units.