49
the total value of residential transactions in the fi rst fi ve months of 2010:
18,402,000,000
MOP
Proportion of buyers
21%
Non-residents
79% residents
Signs ripe for further price rises Ricacorp expects property prices to increase between five and 10 percent in the second half of the year
M
acau’s overall property market is on the rise, despite a slow start to the second quarter, according to the executive director of Ricacorp (Macau) Properties Jane Liu. In comparison with recent years, this year is showing promising signs of growth, she says. According to Ms Liu, transactions in residential properties in the second half of this year, supported by a range of favourable factors, may increase by 15 to 20 percent compared to the first half. Property prices are expected to increase by between 5 and 10 percent. She predicts investors and residents will be increasingly optimistic about owning property in Macau, given the strength of the gaming and tourism industry, and falling unemployment rates. In the second half of the year, the release of upscale properties into the market will positively impact volumes and values of property transactions. And foreign investor confidence in Macau will improve once the European Union recovers and Beijing relaxes its macro-economic controls to cool its real estate market. August 2010