Property prices have “already” hit rock bottom but there won’t be a sharp rebound unless the city’s infrastructure and the economy are improved, Jones Lang LaSalle (JLL) Macau’s residential property chief Jeff Wong Chi Wai said yesterday.
Wong made the comments during a media briefing at his office in the Finance and IT Centre about the global real estate services firm’s Macau mid-year property review and forecast.
According to the company’s data, the capital values for high-end and mass-to-medium residential properties fell by 15.4 percent and 14.7 percent year-on-year respectively in the first half of the year, while their yields contracted to 1.6 percent and 1.7 percent year-on-year respectively.
JLL Macau’s residential property chief Jeff Wong Chi Wai (left) speaks as associate director in capital markets Alison Yip (centre) and associate director in retail Oliver Tong look on during yesterday’s media briefing at their Finance and IT Centre office. Photo: Monica Leong
