{"id":9522,"date":"2020-10-01T17:09:34","date_gmt":"2020-10-01T10:09:34","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=9522"},"modified":"2021-06-04T15:43:00","modified_gmt":"2021-06-04T08:43:00","slug":"nearby-island-outshines-macaus-residential-market","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/nearby-island-outshines-macaus-residential-market\/","title":{"rendered":"Nearby island outshines Macau\u2019s residential market"},"content":{"rendered":"

Stiff competition from Hengqin attributed to new project sales throughout the year<\/span><\/span>\u00a0<\/span><\/p>\n

\"\"
Aerial view of Macau. YellowCat\/Shutterstock<\/figcaption><\/figure>\n

Residential property sales in Macau dropped in the past few months due to stiff competition from nearby island, <\/span>Hengqin in Zhuhai, China<\/span>, reported\u00a0<\/span>Macau Daily Times<\/span><\/a>, citing data from Centaline Property (Macau) real estate company<\/span>.<\/span>\u00a0<\/span><\/p>\n

Based on the statistics from the third quarter, the volume of residential property deals in Macau declined since the region did not<\/span>\u00a0launch new projects, which is why most buyers opted for Hengqin where several housing projects are\u00a0<\/span>up\u00a0<\/span>for sale.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

Another draw that prompted investors is the opening of the new Hengqin Port and Hengqin train\u00a0<\/span>station.<\/span>\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Hong Kong luxury residences remain as an investment favourite, surpassing global gateway cities<\/b><\/a><\/p>\n

\u201cThe market\u2019s attention was drawn to Hengqin, thus local residential property sales [in Macau] were rather quiet,\u201d said a Centaline representative.<\/span>\u00a0<\/span><\/p>\n

Home sales for July and Aug<\/span>ust were 654 and 532 respectively. He said they expect the volume to drop even further in September, <\/span>propelling the third quarter\u2019s total estimated sales volume to 1,600. <\/span>Fortunately<\/span> in the same period, home<\/span>\u00a0<\/span>prices remained stable.<\/span>\u00a0<\/span><\/p>\n

Their findings also revealed that\u00a0<\/span>around one-third or 34 percent of Macau residents were the largest group of buyers in Hengqin, which led the island to experience a record high of online h<\/span>ome sales. <\/span>Residents of Guangdong province accounted for the second-largest group of buyers at 18 percent.<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Stiff competition from Hengqin attributed to new project sales throughout the year\u00a0<\/p>\n","protected":false},"author":9,"featured_media":20756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[946,889,172,566],"class_list":["post-9522","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-hengqin","tag-home-sales","tag-macau","tag-residential-market","news_country-hk-macau","news_author-property-report"],"acf":[],"yoast_head":"\nNearby island outshines Macau\u2019s residential market | 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\" href=\"https:\/\/www.asiapropertyawards.com\/en\/nearby-island-outshines-macaus-residential-market\/\" 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