Chief Executive Fernando Chui Sai On yesterday said that the public should watch the future development of the property market in the wake of the government’s new mortgage rules which were enacted recently.
Chui made the remarks when he was asked by the media if the new mortgage rules would push up the city’s residential real-estate prices, on the sidelines of celebratory activities at the Chinese New Year Flower Market in Praça do Tap Seac.
The government announced last week new mortgage rules for young locals – aged between 21 and 44 – who want to buy their first home by increasing the maximum mortgage rates available to them.
Chief Executive Fernando Chui Sai On (front) speaks to reporters yesterday on the sidelines of a Chinese New Year celebratory activity in Praça do Tap Seac, with Secretary for Administration and Justice Sonia Chan Hoi Fan (second from left) and Civic and Municipal Affairs Bureau (IACM) President José Maria da Fonseca Tavares looking on . Photo: Joel Chu
