Pet ownership among Macau New Neighbourhood’s soon-to-be residents is sparking a conversation on broader policy.
Macau New Neighbourhood
The development in Hengqin comprises more than 4,200 units spread over 27 residential towers, as well as a school and community facilities.
According to the developer, units will be priced “so low it is close to cost” with several Macao banks providing home loans with just a 10 percent down payment.
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.
With the development’s final survey to be completed next month, the units can be put on the market slightly earlier than expected.
Around 4,000 two-bedroom and three-bedroom units will be available to qualified buyers, with an estimated price of 33,480 patacas per square metre.
General market recovery expected this year, however real estate executive warns ‘situation will not improve overnight’.
For now, the sprawling residential development in Hengqin lacks the facilities to attract much interest, analysts say.
More than 4,000 units, including 200 specifically for qualified professionals, due to go on the market in Macao’s specially designed ‘home away from home’ in GBA.
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