






{"id":32110,"date":"2023-02-08T22:02:47","date_gmt":"2023-02-08T15:02:47","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=32110"},"modified":"2023-02-08T22:02:47","modified_gmt":"2023-02-08T15:02:47","slug":"macau-real-estate-on-the-road-to-recovery","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/macau-real-estate-on-the-road-to-recovery\/","title":{"rendered":"Macau real estate on the road to recovery"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Despite the setbacks of the pandemic, the property market is set to bounce back<\/span><\/p>\n<figure id=\"attachment_32111\" aria-describedby=\"caption-attachment-32111\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-32111 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_170353649.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_170353649.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_170353649-400x267.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_170353649-600x400.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2023\/02\/shutterstock_170353649-768x512.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-32111\" class=\"wp-caption-text\">The property market in the longer term would see success. NatteeChalermtiragool\/Shutterstock<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">2023 marked itself as the year of recovery from the pandemic. The <\/span><a href=\"https:\/\/macaudailytimes.com.mo\/real-estate-regional-realtor-expects-slow-recovery-in-property-market.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Macau Daily Times<\/span><\/a><span style=\"font-weight: 400;\"> reported that the property market would continue to recover now that the pandemic-induced restrictions are being lifted. However, despite the market\u2019s promising future, no actual improvements will be revealed to the public until official economic data is revealed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Residential property transactions in 2022 weren\u2019t the ideal case. The number of transactions only reached up to 300 a month in the first half of last year, while the second half only saw a slight boost due to a rare building sale in October. Aside from that, there were relatively no increases in property transactions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There was a 50 percent decrease in the number of transactions compared to 2021. The sudden flares of infections in 2022 slowed down sales to the point where licensed property agents only sold around one property each, and the sales were far between. Compared to over 7,700 flats bought and sold in 2019, 2022 only saw less than 3,000 sales.<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/residential-project-in-guangdong-macau-zone-to-finish-late-2023\/\" target=\"_blank\" rel=\"noopener\">More: Residential project in Guangdong-Macau Zone to finish late 2023<\/a><\/p>\n<p><span style=\"font-weight: 400;\">Nevertheless,Ung Choi Kun, president of the Association of Property Agents and Realty Developers of Macau, told <\/span><a href=\"https:\/\/www.macaubusiness.com\/property-group-calls-for-measures-to-boost-housing-sales\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Macau Business<\/span><\/a><span style=\"font-weight: 400;\"> on the possible future of the property market and what local authorities could do to help it grow. Though he expressed hopefulness for the housing market, he also knew that a sudden rebound in a short time is not feasible, but the longer term would see success.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Despite this, Ung continued on to express his hopes for the growth of the property market.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cA sustainably healthy housing market requires a balance between demand and supply. I hope that the government would continue to optimise tax policies for flats, including the special stamp duty on flat reselling, and the loan-to-value ratio for first-time buyers.\u201d<\/span><\/p>\n<p><i><span data-contrast=\"none\">The Property Report editors wrote this article. For more information, email:\u00a0<\/span><\/i><a href=\"mailto:propertyreport@propertyguru.com\" target=\"_blank\" rel=\"noopener\"><i><span data-contrast=\"none\">propertyreport@propertyguru.com<\/span><\/i><\/a><i><span data-contrast=\"none\">.<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:1,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:270}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite the setbacks of the pandemic, the property market is set to bounce back<\/p>\n","protected":false},"author":12,"featured_media":32111,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[2281,906,172,1049,557],"class_list":["post-32110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-demand-and-supply","tag-housing","tag-macau","tag-property","tag-property-market","news_country-macau","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Macau real estate on the road to recovery | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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