The first lot of Macau New Neighbourhood apartments to go on the market will do so next month, according to Macau Urban Renewal’s chair, Lam Lam Seng.
According to a local media report, he said that each of the 4,000 flats – located in Hengqin – would cost about 30,000 yuan (33,067 patacas) per square metre.
This price is “so low it is close to cost,” Lam added.
[See more: Favourable loan terms for Macau New Neighbourhood units are being negotiated]
The 27-tower complex’s apartments had been expected to start selling in September. Lam justified the delay by saying “we just wanted to make sure that we have done better before the sales begin.”
The apartments will come furnished with electric appliances, kitchenware, and basic furniture.
Lam said that several Macao banks had committed to providing home-loans with just a 10 percent down payment, while Hengqin-based banks would accept a 20 percent down payment – and offer a 4 percent mortgage rate.
