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Favourable loan terms for Macau New Neighbourhood units are being negotiated

Macau Urban Renewal Limited is optimistic that an 80 to 90 percent loan-to-value ratio will be possible for prospective buyers who need a mortgage for the Hengqin development.

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Macau Urban Renewal Limited is optimistic that an 80 to 90 percent loan-to-value ratio will be possible for prospective buyers who need a mortgage for the Hengqin development.

ARTICLE BY

PUBLISHED

UPDATED: 21 Dec 2023, 11:09 pm

Macao residents interested in purchasing homes in Hengqin could be eligible for loans with just a 10 to 20 percent down payment, Macau Urban Renewal Limited (MUR) said in a statement on Sunday. MUR said it had been “actively reaching out to relevant financial institutions” and had received positive feedback about the possibility of an 80 to 90 percent loan-to-value ratio for residential units at Macau New Neighbourhood (MNN).

“Negotiation is ongoing,” the statement said.

The development – set to provide housing for between 12,000 and 15,000 people – will feature a primary school, clinic, seniors’ service centre, family community centre, and 5,000 square metres of commercial space. 

MUR has said that, in response to demand from prospective buyers, it will eventually add a secondary school to the complex, as well as work to attract more food businesses.

[See more: Macau New Neighbourhood flats will go on sale before the end of the year]

Sales centres have been set up in both Hengin and Macao, and it will be possible to submit applications for MNN units online, MUR said.

While MUR’s latest statement did not confirm when MNN units would go on the market, it has previously indicated sales could start as early as this month.

However, it seems there are still some boxes left to tick. MUR’s statement noted that an inspection of the development’s landscaping and roadworks was currently being carried out and was expected to be complete by the end of the month.

“Completed homes can go on sale when relevant departments in Hengqin have completed the reporting and registration process” the statement read.

 

UPDATED: 21 Dec 2023, 11:09 pm

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