With a stable economy, housing prices would have a stable rise of within 10 percent for the whole year, which is “very healthy” and the next step for the government is to help young couples get on the property ladder as a way to solve the under supply problem, as forecast by the local branch of US-based real estate consultancy firm Jones Lang LaSalle (JLL).
The Macau branch yesterday held a press conference at its Finance and IT Centre office in Nam Van on its mid-year review of the local real estate landscape, with the agency saying that while the property market is “very healthy” and according to its Senior Manager for Valuation Advisory Services Mark Wong Ka Leong, housing prices would see a 10-percent growth for the whole year.
JLL Macau office’s residential property chief Jeff Wong Chi Wai said that from their own analysis, despite a “very healthy” real estate market where just about 4 percent of the transactions recorded in the first half of this year were “investors” buying their third or more property, there was still an undersupply for first-time buyers.
JLL (Macau) Head of Retail Oliver Tong Wai Lok (from left to right), Managing Director Gregory Ku Ka Hou, Head of Residential Jeff Wong Chi Wai and Senior Manager of Valuation Advisory Service Mark Wong Ka Leong listen to a reporter’s question during yesterday’s press conference at the company’s Finance and IT Centre office in Nam Van. Photo: Monica Leong
