Macau Small and Medium Enterprises (SMEs) Association President Stanley Au Chong Kit said yesterday he expected housing prices in the city to drop this year, in the expectation that the US Fed will raise interest rates several times in the year ahead.
He also urged local residents to be careful about engaging in investment activities this year due to the possible US Fed interest rate rises.
Au made the remarks while speaking to reporters on the sidelines of a seminar about the economic and political prospects of the world after US President-elect Donald Trump becomes president in Washington, DC, today (1 a.m. tomorrow Macau time).
Macau Small and Medium Enterprises (SMEs) Association President Stanley Au Chong Kit speaks to reporters on the Macau Polytechnic Institute (IPM) campus in Zape yesterday. Photo: Tony Wong
