The government had decided to tighten its mortgage rules from today, lowering the percentage of mortgage available to all except local first-time buyers, in order to ensure stability in the local housing market, Government Information Bureau (GCS) Director Victor Chan Chi Ping, said yesterday.
Chan, the government’s chief spokesperson, announced the measure during a hastily arranged press conference at Government Headquarters yesterday afternoon.Lau Hang Kun, the deputy chief of the Banking Supervision Department of the Macau Monetary Authority (AMCM), said when addressing the press conference that housing prices in the first quarter of the year were 4.7 percent higher than in the previous quarter, and 20 percent higher than in the first quarter of last year.
Macau Monetary Authority (AMCM) Banking Supervision Department Deputy Chief Lau Hang Kun addresses yesterday’s press conference about the government’s new mortgage measure at Government Headquarters. Photo: Annie Cheung
