Representatives of the Centaline property agency say they believe the imminent scrapping of curbs on the property market will lead to around 1,000 transactions a month in the second quarter. Their comments were cited by the Macau Post Daily.
Speaking at a press conference yesterday, Centaline’s representatives said the liberalised real estate market would restore confidence, boost liquidity and encourage investment from non-residents as well as locals.
They added that there was little danger of speculation or sharp rise in property values, as increasing assimilation in the Greater Bay area meant that potential buyers were shopping around for property in Zhuhai, Hengqin, and Hong Kong as well as Macao, weighing up the advantages of each city.
[See more: Enquiries have increased with the lifting of market curbs, top realtor says]
It is also supposed that developers will be anxious for prices to remain low so they can shift existing inventory.
The Macau Post Daily meanwhile reports that lawmakers are debating a bill this afternoon to scrap the restraining measures, such as punitive stamp duties, that were originally introduced to reduce speculation.
Developers, agents and property owners have been calling on the government for some time to lift the curbs in order to inject new life into Macao’s lacklustre real estate market.
