Property Purchases and Prices down

Written on August 14, 2006 by admin

As I mentioned earlier, Property Value Down, this is not suprising news to me. Macau Government SAR just released the 2nd Quarter 2006 Transactions on Real Estate report that shows that transactions is down by 47%, whilst value is down 54% compared to last year.

I think that some property buyers are just waiting in the wings,so that they can see how the Cotai Strip development pans out. As I said before, I strongly believe that the property developers better start to give Quality rather than Quantity. They really will have to that if they what to sell their properties to the expected influx of expats once all those 25 plus new casino’s and associated businesses open in Macau by 2009.