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Govt vows to continue to curb property speculation

Secretary for Transport and Public Works Lau Si Io said earlier this week that the government did not exclude the possibility of taking “some special measures” to further contain speculation in the local property market. However, he declined to say whether “special” measures are already in place or not and when they would be implemented. […]

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UPDATED: 22 Dec 2023, 5:48 am

Secretary for Transport and Public Works Lau Si Io said earlier this week that the government did not exclude the possibility of taking “some special measures” to further contain speculation in the local property market.

However, he declined to say whether “special” measures are already in place or not and when they would be implemented.

He made the remarks on the sidelines of Tuesday’sreception hosted by the Macau Federation of Trade Unions. Lau was one of hundreds of guests at the event to mark Labour Day.

Asked by reporters as to whether the government would implement new measures to tackle the city’s red-hot property market, Lau said that some government measures and policies were already in place to curb speculation in the local market.

Civic leaders and lawmakers frequently complain about unaffordable property prices, urging the government to build more public housing flats.

The government’s public housing programme consists of subsidised home ownership scheme (HOS) flats and low-rental social housing flats.

“The government has reaffirmed that the availability of flats should fulfil the housing needs of residents because the supply of flats will be insufficient in the short term thus the government must constantly come up with measures and policies to contain speculation and [speculative] investment in the property market,” Lau said.
According to The Macau Post Daily he also said that “The government will continue to keep a close eye on the development of the real estate market. The government will not exclude the possibility of implementing special measures.”

“Anyone who wants to buy a flat should be cautious and pay close attention to the changes in the local property market and economy, as well the changes in the global economy.

Any possible flat buyer should evaluate their own financial situation first before making the decision [to buy real-estate property],” Lau said, adding that according to the latest official figures the number of non-local flat buyers decreased while flat buyers buying a second flat were mainly locals.(macaunews)

UPDATED: 22 Dec 2023, 5:48 am

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