Macau Real Estate News - Page 5

one grantai · March 26th, 2009, 01:35 AM

Macauvillage, you are right, they are old figures of everythings those were approved, including one central, one grantai, nova city, all the apartments at the pearl region, windsor arch, etc, etc,

most of those have already have a large chuck of it presold, except windsor arch. Indeed since the arrest of the one famous Ao, almost no projects have been approved, so Macau has a 2 years gap in property supply in the future.

Again, this is another misleading piece of information out there, making it sound as though 30k apartments are going to hit the market any time soon, the truth is almost 1/3 of those are properly presold (in the boom years), the rest probably do not even have foundation works done yet, then after that, no more supply unless the government approves more projects.

HereAndThere · April 13th, 2009, 05:35 PM

Stamp duty revision withheld - any update on this?
Excerpts from article 03 April.

Proposal for a progressive tax rate from one to three percent based on the values of the real estate.
Property worth two million patacas or below will have a one percent stamp duty; over two million to four million patacas the tax rate will be at two percent; whilst for over four million patacas the stamp duty is set at three percent.

The committee will make a decision as soon as possible, as the stamp duty revision is a “sensitive topic and many property transaction contracts have been put on hold as buyers are waiting for the tax deductions.”

macau-invest · April 16th, 2009, 04:15 PM

16/04/2009 14:00

Macau tipped as China's latest 'foreign property hotspot'

Macau has been tipped as an ideal location for foreign property investment due to rising tourism and development in the Chinese region.

An expert from the foreign property portal Homesgofast.com believes that the former Portuguese colony also benefits from sustainable growth rarely seen in other areas of the country.

Nick Marr, chief executive of the website, highlighted gambling as Macau's biggest revenue driver.

He said: "The love of gaming and casinos by both the local and international population stands this region in good stead for long-term investment.

"With new casinos being built and a huge amount of tourism to the region, it seems a very exciting prospect."

He added that the region had now overtaken previous foreign property "hotspots" in China such as Hong Kong and Beijing for investor attraction.

MacauVillager28 · April 17th, 2009, 04:25 AM

At last.... a ray of sunshine in Macau

one grantai · April 17th, 2009, 07:18 AM

Well, that is pretty much the same believey as why I believe a few of the people on this forum are investors in Macau (the Macau story).

That story has not really changed, if anything, beacause of the financial crisis, it has be accelarated by the Beijing government, now we just need the corporates to come back in (and they will after stablisation), a few more reports like the above one, then private investors will come back and good times will roll again.

good luck.

HK Bystander · April 17th, 2009, 08:29 AM

Quote:

Originally Posted by MacauVillager28

At last.... a ray of sunshine in Macau

Yes, at last .............
Starting from previous week, more inquiries from Macau agents on my unit at 1CR. ( actually I never put my unit on the market, did not know how they got my contact ).
Even though prices are still disappointing, hopefully it's an indication that market has started to move. And more good news to follow.

MacauVillager28 · April 18th, 2009, 08:43 PM

Quote:

Originally Posted by one grantai

Well, that is pretty much the same believey as why I believe a few of the people on this forum are investors in Macau (the Macau story).

That story has not really changed, if anything, beacause of the financial crisis, it has be accelarated by the Beijing government, now we just need the corporates to come back in (and they will after stablisation), a few more reports like the above one, then private investors will come back and good times will roll again.

good luck.

SCMP article today on March gaming figures. 1Q first quarterly growth in 3 quarters (compared to previous quarter) of approx 8%, tho still down compared to last year (but less down than previous quarters).
Also some anecdotal evidence of relaxation of visas for visitors from China.

So news is getting more and more positive in the lead up to Melco's City of Dreams opening....

VIPS also boasted gaming (tho VIPs make up most market, so not surprising).

I sometimes wonder what is more important. Visitor numbers (and visa policy) or VIP gaming revenue for Macau (and property market) ?

If VIPs, then health of stock market (and mainland economy) maybe more important indicator. So much of the boost in gaming due to China stock market rising than visas, actual health of Chinese economy ??
VIPs contribute less in terms of hotels, and general spending since they make up such a small portion of retail market, tho they spend big in gaming (and profits for casinos).

macau-invest · April 19th, 2009, 04:34 PM

The Brits well known and not so liked for pushing up property prices in places like Spain, Portugal and South of France

Macau property attracting buyer interest from UK

Brits considering upping sticks and moving abroad are starting to take a growing interest in the Chinese property market of Macau.

Nick Marr, chief executive of Homesgofast.com, said that the city stands in "good stead for long-term investment".
"My tip would be to look closely at the Macau region. It is also known as the Las Vegas of the Far East and seems to tick the right boxes for good investment potential," he recommended.

He added that previous hotspots for British people seeking property in China included Shanghai, Beijing, Hong Kong and Shenzhan.
The National Bureau of Statistics of China recently reported that urban residential property prices in China's 70 major cities increased by 0.2 per cent last month compared to February.

Packing up life in the UK to head overseas is no mean feet. Those re-locating abroad can take the hassle out of moving by storing non-essential home contents and belongings.
Written by Jenifer Courtney

MacauVillager28 · April 20th, 2009, 08:17 AM

Here's newswire report, similar to SCMP mentioned above

DJ MARKET TALK: Macau Plays Strong; 1Q Gaming Revenue +8.1%
2009-4-20 11:59:00 a.m. HKT, XFNA

1141 [Dow Jones] Macau plays on a roll, likely getting boost from news 1Q09 gaming revenue +8.1% on-quarter at MOP26.02 billion, according to Macau's Gaming Inspection and Coordination Bureau. Too early to say if rebound will continue, but if trend sustained, could potentially be re-rating catalyst for sector, as signals gaming enclave's bad luck may have started to turn, with 1Q uptick following 3 consecutive -on-quarter revenue drops, as tighter visa restrictions on mainland visitors hit casino operators. Galaxy Entertainment (0027.HK) +5.6% at HK$1.51, Melco International (0200.HK) +6.5% at HK$3.26, SJM Holdings (0880.HK) +5.1% at HK$2.08. Most flirting with year-to-date highs hit around Jan. 7, likely near-term targets. Volume modest so far.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com

MacauVillager28 · April 20th, 2009, 08:19 AM

Wonder if you were stock investor, which one is best ??
I picked galaxy recently, but this was no real reason. I admit Melco has attractions given it is about to open. However, I think generally Macau news affect them similarly.

MacauVillager28 · April 22nd, 2009, 06:34 AM

DJ MARKET TALK: Morgan Stanley Turns Bullish On Macau Gaming,Ppty
2009-4-22 11:17:00 a.m. HKT, XFNA

1104 [Dow Jones] Morgan Stanley gets more bullish on Macau gaming, property sectors on "visible signs" of improvement in visitor arrivals, gaming revenue. House upgrades Melco (0200.HK) to Equal-weight vs Underweight, raises target to HK$3.30 vs HK$2.50; raises Galaxy (0027.HK) to Overweight from Equal-weight, ups target to HK$1.80 vs HK$1.50; keeps Shun Tak (0242.HK) at Overweight, ups target to HK$3.20 vs HK$3.10. Tips Macau gaming revenue to recover in 2H09, after dropping 11% in 1H09; revenue to further rise 16% in 2010. Says faster processing rate of visas at Macau borders, Macau government's stimulus packages will boost property sector; casino operators will also benefit from commission caps. Galaxy up 11.9% at HK$1.60, Melco up 8.7% at HK$3.51, Shun Tak up 5.9% at HK$3.03. (ARP) Contact us in Hong Kong. 852 2802 7002;

HK Bystander · April 22nd, 2009, 11:12 AM

Quote:

Originally Posted by MacauVillager28

DJ MARKET TALK: Morgan Stanley Turns Bullish On Macau Gaming,Ppty
2009-4-22 11:17:00 a.m. HKT, XFNA

1104 [Dow Jones] Morgan Stanley gets more bullish on Macau gaming, property sectors on "visible signs" of improvement in visitor arrivals, gaming revenue. House upgrades Melco (0200.HK) to Equal-weight vs Underweight, raises target to HK$3.30 vs HK$2.50; raises Galaxy (0027.HK) to Overweight from Equal-weight, ups target to HK$1.80 vs HK$1.50; keeps Shun Tak (0242.HK) at Overweight, ups target to HK$3.20 vs HK$3.10. Tips Macau gaming revenue to recover in 2H09, after dropping 11% in 1H09; revenue to further rise 16% in 2010. Says faster processing rate of visas at Macau borders, Macau government's stimulus packages will boost property sector; casino operators will also benefit from commission caps. Galaxy up 11.9% at HK$1.60, Melco up 8.7% at HK$3.51, Shun Tak up 5.9% at HK$3.03. (ARP) Contact us in Hong Kong. 852 2802 7002;

They all managed a 9%+ gain at today's closing. Despite a 3% down on the Heng Seng index. Shun Tak are among the 50 most actively traded stock today, closed at $3.14, up almost 10%.

MacauVillager28 · April 23rd, 2009, 10:24 AM

Quote:

Originally Posted by HK Bystander

They all managed a 9%+ gain at today's closing. Despite a 3% down on the Heng Seng index. Shun Tak are among the 50 most actively traded stock today, closed at $3.14, up almost 10%.

Galaxy up almost 20% at one stage... so took profits.
Will go back in at lower level... and keep until at least 100%

Guess Morgan Stanley answered my question !!

HK Bystander · April 23rd, 2009, 05:41 PM

Quote:

Originally Posted by MacauVillager28

Galaxy up almost 20% at one stage... so took profits.
Will go back in at lower level... and keep until at least 100%

Guess Morgan Stanley answered my question !!

Well done!

HereAndThere · April 24th, 2009, 07:54 AM

Progressive structure for property stamp duty outlined
Tuesday, 10 February 2009

The government and the standing committee reached a consensus to introduce a progressive structure of rates for property transfer stamp duty, Cheang Chi Keong, the president of the committee said yesterday.
"If an apartment is valued less than two million patacas, the stamp duty will be one percent, if the value is between two million and four million patacas, the tax will be two percent, and if a flat is worth over four million patacas the tax will be three percent, " Cheang said.
In case when the apartment is valued at five million patacas or above, all the three taxes will be applied, he added.
In line with the 2009 Chief Executive Policy Address to reduce financial burden of local residents, the government presented the bill to the Legislative Assembly with an aim to cut the stamp duty from three percent to one percent.
The stamp duty, according to Cheang, will be applied in the initial contract and also in the final contract for purchasing an apartment, and will as well validate the final purchase of the property.
During the meeting yesterday the lawmakers made three suggestions to the government.
The first was regarding the two percent duty paid between a two million pataca and a four million pataca apartment, in which some lawmakers said the price range should be "broader".
They also proposed more flexible options for stamp duty rates since the bill, if passed, will affect contracts that were signed since January 1 this year.
Other lawmakers also suggested a decrease in other kinds of fees arisen when buying an apartment.
According to the Finance Services Bureau (DSF) in 2007, 75 percent of the apartments for sale were below two million patacas.
As for flats over two million and three million patacas there were 10.3 percent.
In 2008, 74 percent of the apartments for sale were below two million patacas, and for over two million and three million patacas there were about nine percent.
For first time home buyers who purchase a flat valued at three million patacas or below, the government will continue to waive their relevant stamp duty.

macau-invest · May 21st, 2009, 02:41 PM

The lawmakers yesterday again gave a
tough time to Secretary for Transport
and Public Works Lau Si Io, who tried
to put through the government’s bill in relations
to the Home Purchase Credit Guarantee
Scheme.
Yet, by a vote of 16 to 2 the bill passed the
final reading at the Legislative Assembly
(AL) so that the government will assume a
700 million pataca debt in order to provide
20 percent down payment guarantee for eligible
first home buyers.
Six other lawmakers including Fong Chi
Keong, Kwan Tsui Hang, Leong Iok Wa and
AL vice president Lau Cheok Va abstained
from voting.
The actual Home Purchase Credit Guarantee
Scheme will be gazetted as an administrative
regulation – which does not need to
go through the legislature.
Continues on

HereAndThere · May 21st, 2009, 03:39 PM

Part of the issue is they are afraid people will buy a flat they can not really afford. There is also risk of negative equity - will the government subsidise this?

one grantai · May 22nd, 2009, 04:52 AM

If one can not afford basically interest free loans (with interst rate much less than the 4% subsidy), plus effectively spreading payment of today's cost over 20 or so years. Then I think you should never buy anything.

Wish I could buy any property 20 years ago interest free, then inflation kicks in, the same money today is for sure not worth what it was 20 years ago. it's a bbbbbbargain.

If this sort of proposal exist in any one so call western country, you would for sure have absolutely no drop in property value.

macau-invest · May 22nd, 2009, 08:17 AM

agree, if I could qualify I would jump on it, in 5-10 years time nobody who buys property today will be in negative equity, pricing is reasonable, land limited and the economic prospect on the medium to long term very good. With all the quatitive easing happening around the world, inflation will be back with a vengeance.
Better protect youself against devaluation of money by picking up reasonable priced property.

article

China fears bond crisis as it slams quantitative easing

China has given its clearest warning to date that emergency monetary stimulus by Western governments risks setting off worldwide inflation and undermining global bond markets.

By Ambrose Evans-Pritchard
Last Updated: 1:13PM BST 07 May 2009

Comments 33 | Comment on this article

"A policy mistake made by some major central bank may bring inflation risks to the whole world," said the People's Central Bank in its quarterly report.

"As more and more economies are adopting unconventional monetary policies, such as quantitative easing (QE), major currencies' devaluation risks may rise," it said. The bank fears a "big consolidation" in the bond markets, clearly anxious that interest yields will surge as western states try to exit their QE experiment.

"There is a significant shift taking place in China. They are concerned about the stability of the global financial system so they are not going to sell US bonds they already have. But they are still accumulating $40bn of fresh reserves each month, and they are going to be much more careful where they invest it," he said.

Hans Redeker, head of currencies at BNP Paribas, said China is switching into hard assets. "They want to buy production rights to raw materials and gain access to resources such as oil, water, and metals. They know they can't keep buying bonds," he said

Premier Wen Jiabao left no doubt at the Communist Party summit in March that China is irked by Washington's response to the credit crunch, suspecting that the US is engaging in a stealth default on its debt by driving down the dollar. "We have lent a massive amount of capital to the United States, and of course we are concerned about the security of our assets. To speak truthfully, I do indeed have some worries," he said.

Days later, the central bank chief wrote a paper suggesting a world currency based on Special Drawing Rights issued by the International Monetary Fund.

Some economists say China is suffering from "cognitive dissonance" by anguishing so much over its reserves, accumulated as a result of its own policy of holding down the yuan to promote exports. Quantitative easing by the US Federal Reserve and fellow central banks may have saved China as well, since the country's growth strategy is built on selling goods to the West.

China's fears of imported inflation may reflect its concerns about over-heating. The M2 money supply rose 25pc in March on a year earlier, and there has been explosive credit growth since the government relaxed loan restraints. There are concerns that the stimulus is leaking into a new asset bubble rather than promoting job growth. The Shanghai bourse is up over 50pc since November

macau-invest · May 22nd, 2009, 08:31 AM

Gold: investor demand soars amid inflation fears
Gold investors continued to flock to the safe-haven metal in the first quarter as fears of future inflation and ongoing financial uncertainty continued.

By Paul Farrow
Last Updated: 11:34AM BST 20 May 2009

Total demand for gold in Q1'09 rose 38pc year on year to 1,016 tonnes, representing a 36pc rise in value terms to US$29.7bn.

According to figures published today by World Gold Council (WGC) in its Q1'09 Gold Demand Trends report, identifiable investment demand for gold, which includes exchange traded funds, (ETFs) and bars and coins, was the major source of growth in the quarter, reaching 596 tonnes, up 248pc on Q1'08.

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Gold: Gordon Brown's decade of regret? The figures, compiled independently for WGC by GFMS Limited, reveal a record level of investment into ETFs with demand soaring 540pc to 465 tonnes at a value of US$13.6bn.

Net retail investment (total bar and coin demand) remained highly robust, rising 33pc year on year to 131 tonnes, despite some bar and coin dishoarding in eastern markets as investors took profits. Germany was the single biggest bar and coin market in Q1'09, where demand rose 400pc on Q1'08 to 59 tonnes, with inflation concerns being a key buying motivator.

The impact of the recession on consumer discretionary spending continued to take its toll on both jewellery and industrial demand. Gold jewellery demand was down 24pc on year earlier levels, with most countries suffering a decline as consumers responded to the high and volatile gold price, which reached record levels in some countries, compounded by difficult economic conditions.

Total demand in India, traditionally the world's largest gold market, declined significantly under pressure from record rupee prices and a major deterioration in the domestic economy. Demand fell 83pc on year earlier levels to just 17.7 tonnes.

Industrial demand for gold in Q1'09 was 31pc down on Q1'08, with the electronics sector being the major contributor to this decline. End user demand for electronics goods has been badly affected by the downturn in consumer spending on items such as laptops and mobile phones.

Aram Shishmanian, CEO of World Gold Council, said: "There has been a seismic shift away from capital appreciation towards wealth preservation and we believe this trend will define investment behaviour in the next decade.

"Gold, as one of the few assets that has held its value during the current economic crisis, has been sought out by investors who are drawn to its proven protective attributes as well as safeguarding themselves from the erosive effects of future inflation.

"The shift in the balance of demand that we have witnessed this quarter, where the gold price has risen despite a severe drop in jewellery and industrial demand, perfectly demonstrates the robust nature of gold's fundamental supply and demand dynamics.

"While jewellery demand is unlikely to return to more positive territory in current market conditions it remains a key market driver. Affinity for gold jewellery remains and we are confident that demand will grow as consumer confidence and purchasing power returns."

April 13th, 2009, 05:35 PM	#82
HereAndThere Registered User Join Date: Sep 2008 Posts: 68	Stamp Duty Revision Stamp duty revision withheld - any update on this? Excerpts from article 03 April. Proposal for a progressive tax rate from one to three percent based on the values of the real estate. Property worth two million patacas or below will have a one percent stamp duty; over two million to four million patacas the tax rate will be at two percent; whilst for over four million patacas the stamp duty is set at three percent. The committee will make a decision as soon as possible, as the stamp duty revision is a “sensitive topic and many property transaction contracts have been put on hold as buyers are waiting for the tax deductions.”

April 16th, 2009, 04:15 PM	#83
macau-invest Registered User Join Date: Apr 2008 Posts: 167	Macau tipped as China's latest 'foreign property hotspot' 16/04/2009 14:00 Macau tipped as China's latest 'foreign property hotspot' Macau has been tipped as an ideal location for foreign property investment due to rising tourism and development in the Chinese region. An expert from the foreign property portal Homesgofast.com believes that the former Portuguese colony also benefits from sustainable growth rarely seen in other areas of the country. Nick Marr, chief executive of the website, highlighted gambling as Macau's biggest revenue driver. He said: "The love of gaming and casinos by both the local and international population stands this region in good stead for long-term investment. "With new casinos being built and a huge amount of tourism to the region, it seems a very exciting prospect." He added that the region had now overtaken previous foreign property "hotspots" in China such as Hong Kong and Beijing for investor attraction.

April 17th, 2009, 04:25 AM	#84
MacauVillager28 Registered User Join Date: Aug 2007 Location: HK, Singapore, Macau, UK Posts: 1,310	At last.... a ray of sunshine in Macau __________________ Macau SG HK

April 19th, 2009, 04:34 PM	#88
macau-invest Registered User Join Date: Apr 2008 Posts: 167	Macau property attracting buyer interest from UK The Brits well known and not so liked for pushing up property prices in places like Spain, Portugal and South of France Macau property attracting buyer interest from UK Brits considering upping sticks and moving abroad are starting to take a growing interest in the Chinese property market of Macau. Nick Marr, chief executive of Homesgofast.com, said that the city stands in "good stead for long-term investment". "My tip would be to look closely at the Macau region. It is also known as the Las Vegas of the Far East and seems to tick the right boxes for good investment potential," he recommended. He added that previous hotspots for British people seeking property in China included Shanghai, Beijing, Hong Kong and Shenzhan. The National Bureau of Statistics of China recently reported that urban residential property prices in China's 70 major cities increased by 0.2 per cent last month compared to February. Packing up life in the UK to head overseas is no mean feet. Those re-locating abroad can take the hassle out of moving by storing non-essential home contents and belongings. Written by Jenifer Courtney

April 20th, 2009, 08:17 AM	#89
MacauVillager28 Registered User Join Date: Aug 2007 Location: HK, Singapore, Macau, UK Posts: 1,310	Here's newswire report, similar to SCMP mentioned above DJ MARKET TALK: Macau Plays Strong; 1Q Gaming Revenue +8.1% 2009-4-20 11:59:00 a.m. HKT, XFNA 1141 [Dow Jones] Macau plays on a roll, likely getting boost from news 1Q09 gaming revenue +8.1% on-quarter at MOP26.02 billion, according to Macau's Gaming Inspection and Coordination Bureau. Too early to say if rebound will continue, but if trend sustained, could potentially be re-rating catalyst for sector, as signals gaming enclave's bad luck may have started to turn, with 1Q uptick following 3 consecutive -on-quarter revenue drops, as tighter visa restrictions on mainland visitors hit casino operators. Galaxy Entertainment (0027.HK) +5.6% at HK$1.51, Melco International (0200.HK) +6.5% at HK$3.26, SJM Holdings (0880.HK) +5.1% at HK$2.08. Most flirting with year-to-date highs hit around Jan. 7, likely near-term targets. Volume modest so far.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com __________________ Macau SG HK

March 26th, 2009, 01:35 AM	#81
one grantai Registered User Join Date: Sep 2007 Posts: 110	Macauvillage, you are right, they are old figures of everythings those were approved, including one central, one grantai, nova city, all the apartments at the pearl region, windsor arch, etc, etc, most of those have already have a large chuck of it presold, except windsor arch. Indeed since the arrest of the one famous Ao, almost no projects have been approved, so Macau has a 2 years gap in property supply in the future. Again, this is another misleading piece of information out there, making it sound as though 30k apartments are going to hit the market any time soon, the truth is almost 1/3 of those are properly presold (in the boom years), the rest probably do not even have foundation works done yet, then after that, no more supply unless the government approves more projects.

April 17th, 2009, 07:18 AM	#85
one grantai Registered User Join Date: Sep 2007 Posts: 110	Well, that is pretty much the same believey as why I believe a few of the people on this forum are investors in Macau (the Macau story). That story has not really changed, if anything, beacause of the financial crisis, it has be accelarated by the Beijing government, now we just need the corporates to come back in (and they will after stablisation), a few more reports like the above one, then private investors will come back and good times will roll again. good luck.

April 20th, 2009, 08:19 AM	#90
MacauVillager28 Registered User Join Date: Aug 2007 Location: HK, Singapore, Macau, UK Posts: 1,310	Wonder if you were stock investor, which one is best ?? I picked galaxy recently, but this was no real reason. I admit Melco has attractions given it is about to open. However, I think generally Macau news affect them similarly. __________________ Macau SG HK Last edited by MacauVillager28; April 20th, 2009 at 09:33 AM.

April 22nd, 2009, 06:34 AM	#91
MacauVillager28 Registered User Join Date: Aug 2007 Location: HK, Singapore, Macau, UK Posts: 1,310	DJ MARKET TALK: Morgan Stanley Turns Bullish On Macau Gaming,Ppty 2009-4-22 11:17:00 a.m. HKT, XFNA 1104 [Dow Jones] Morgan Stanley gets more bullish on Macau gaming, property sectors on "visible signs" of improvement in visitor arrivals, gaming revenue. House upgrades Melco (0200.HK) to Equal-weight vs Underweight, raises target to HK$3.30 vs HK$2.50; raises Galaxy (0027.HK) to Overweight from Equal-weight, ups target to HK$1.80 vs HK$1.50; keeps Shun Tak (0242.HK) at Overweight, ups target to HK$3.20 vs HK$3.10. Tips Macau gaming revenue to recover in 2H09, after dropping 11% in 1H09; revenue to further rise 16% in 2010. Says faster processing rate of visas at Macau borders, Macau government's stimulus packages will boost property sector; casino operators will also benefit from commission caps. Galaxy up 11.9% at HK$1.60, Melco up 8.7% at HK$3.51, Shun Tak up 5.9% at HK$3.03. (ARP) Contact us in Hong Kong. 852 2802 7002; __________________ Macau SG HK

April 24th, 2009, 07:54 AM	#95
HereAndThere Registered User Join Date: Sep 2008 Posts: 68	stamp duty update Progressive structure for property stamp duty outlined Tuesday, 10 February 2009 The government and the standing committee reached a consensus to introduce a progressive structure of rates for property transfer stamp duty, Cheang Chi Keong, the president of the committee said yesterday. "If an apartment is valued less than two million patacas, the stamp duty will be one percent, if the value is between two million and four million patacas, the tax will be two percent, and if a flat is worth over four million patacas the tax will be three percent, " Cheang said. In case when the apartment is valued at five million patacas or above, all the three taxes will be applied, he added. In line with the 2009 Chief Executive Policy Address to reduce financial burden of local residents, the government presented the bill to the Legislative Assembly with an aim to cut the stamp duty from three percent to one percent. The stamp duty, according to Cheang, will be applied in the initial contract and also in the final contract for purchasing an apartment, and will as well validate the final purchase of the property. During the meeting yesterday the lawmakers made three suggestions to the government. The first was regarding the two percent duty paid between a two million pataca and a four million pataca apartment, in which some lawmakers said the price range should be "broader". They also proposed more flexible options for stamp duty rates since the bill, if passed, will affect contracts that were signed since January 1 this year. Other lawmakers also suggested a decrease in other kinds of fees arisen when buying an apartment. According to the Finance Services Bureau (DSF) in 2007, 75 percent of the apartments for sale were below two million patacas. As for flats over two million and three million patacas there were 10.3 percent. In 2008, 74 percent of the apartments for sale were below two million patacas, and for over two million and three million patacas there were about nine percent. For first time home buyers who purchase a flat valued at three million patacas or below, the government will continue to waive their relevant stamp duty.

May 21st, 2009, 02:41 PM	#96
macau-invest Registered User Join Date: Apr 2008 Posts: 167	Govt's 700$ Home Purchase Plan The lawmakers yesterday again gave a tough time to Secretary for Transport and Public Works Lau Si Io, who tried to put through the government’s bill in relations to the Home Purchase Credit Guarantee Scheme. Yet, by a vote of 16 to 2 the bill passed the final reading at the Legislative Assembly (AL) so that the government will assume a 700 million pataca debt in order to provide 20 percent down payment guarantee for eligible first home buyers. Six other lawmakers including Fong Chi Keong, Kwan Tsui Hang, Leong Iok Wa and AL vice president Lau Cheok Va abstained from voting. The actual Home Purchase Credit Guarantee Scheme will be gazetted as an administrative regulation – which does not need to go through the legislature. Continues on

May 21st, 2009, 03:39 PM	#97
HereAndThere Registered User Join Date: Sep 2008 Posts: 68	plan issues Part of the issue is they are afraid people will buy a flat they can not really afford. There is also risk of negative equity - will the government subsidise this?

May 22nd, 2009, 04:52 AM	#98
one grantai Registered User Join Date: Sep 2007 Posts: 110	If one can not afford basically interest free loans (with interst rate much less than the 4% subsidy), plus effectively spreading payment of today's cost over 20 or so years. Then I think you should never buy anything. Wish I could buy any property 20 years ago interest free, then inflation kicks in, the same money today is for sure not worth what it was 20 years ago. it's a bbbbbbargain. If this sort of proposal exist in any one so call western country, you would for sure have absolutely no drop in property value.

May 22nd, 2009, 08:17 AM	#99
macau-invest Registered User Join Date: Apr 2008 Posts: 167	agree, if I could qualify I would jump on it, in 5-10 years time nobody who buys property today will be in negative equity, pricing is reasonable, land limited and the economic prospect on the medium to long term very good. With all the quatitive easing happening around the world, inflation will be back with a vengeance. Better protect youself against devaluation of money by picking up reasonable priced property. article China fears bond crisis as it slams quantitative easing China has given its clearest warning to date that emergency monetary stimulus by Western governments risks setting off worldwide inflation and undermining global bond markets. By Ambrose Evans-Pritchard Last Updated: 1:13PM BST 07 May 2009 Comments 33 \| Comment on this article "A policy mistake made by some major central bank may bring inflation risks to the whole world," said the People's Central Bank in its quarterly report. "As more and more economies are adopting unconventional monetary policies, such as quantitative easing (QE), major currencies' devaluation risks may rise," it said. The bank fears a "big consolidation" in the bond markets, clearly anxious that interest yields will surge as western states try to exit their QE experiment. "There is a significant shift taking place in China. They are concerned about the stability of the global financial system so they are not going to sell US bonds they already have. But they are still accumulating $40bn of fresh reserves each month, and they are going to be much more careful where they invest it," he said. Hans Redeker, head of currencies at BNP Paribas, said China is switching into hard assets. "They want to buy production rights to raw materials and gain access to resources such as oil, water, and metals. They know they can't keep buying bonds," he said Premier Wen Jiabao left no doubt at the Communist Party summit in March that China is irked by Washington's response to the credit crunch, suspecting that the US is engaging in a stealth default on its debt by driving down the dollar. "We have lent a massive amount of capital to the United States, and of course we are concerned about the security of our assets. To speak truthfully, I do indeed have some worries," he said. Days later, the central bank chief wrote a paper suggesting a world currency based on Special Drawing Rights issued by the International Monetary Fund. Some economists say China is suffering from "cognitive dissonance" by anguishing so much over its reserves, accumulated as a result of its own policy of holding down the yuan to promote exports. Quantitative easing by the US Federal Reserve and fellow central banks may have saved China as well, since the country's growth strategy is built on selling goods to the West. China's fears of imported inflation may reflect its concerns about over-heating. The M2 money supply rose 25pc in March on a year earlier, and there has been explosive credit growth since the government relaxed loan restraints. There are concerns that the stimulus is leaking into a new asset bubble rather than promoting job growth. The Shanghai bourse is up over 50pc since November

May 22nd, 2009, 08:31 AM	#100
macau-invest Registered User Join Date: Apr 2008 Posts: 167	Gold: investor demand soars amid inflation fears Gold investors continued to flock to the safe-haven metal in the first quarter as fears of future inflation and ongoing financial uncertainty continued. By Paul Farrow Last Updated: 11:34AM BST 20 May 2009 Total demand for gold in Q1'09 rose 38pc year on year to 1,016 tonnes, representing a 36pc rise in value terms to US$29.7bn. According to figures published today by World Gold Council (WGC) in its Q1'09 Gold Demand Trends report, identifiable investment demand for gold, which includes exchange traded funds, (ETFs) and bars and coins, was the major source of growth in the quarter, reaching 596 tonnes, up 248pc on Q1'08. Related Articles Investment: think China, not Japan How to invest in gold Gold: 'It's a bargain at $930 an ounce' Shares: buy Randgold, sell RBS Gold: investors warned of scams Gold: Gordon Brown's decade of regret? The figures, compiled independently for WGC by GFMS Limited, reveal a record level of investment into ETFs with demand soaring 540pc to 465 tonnes at a value of US$13.6bn. Net retail investment (total bar and coin demand) remained highly robust, rising 33pc year on year to 131 tonnes, despite some bar and coin dishoarding in eastern markets as investors took profits. Germany was the single biggest bar and coin market in Q1'09, where demand rose 400pc on Q1'08 to 59 tonnes, with inflation concerns being a key buying motivator. The impact of the recession on consumer discretionary spending continued to take its toll on both jewellery and industrial demand. Gold jewellery demand was down 24pc on year earlier levels, with most countries suffering a decline as consumers responded to the high and volatile gold price, which reached record levels in some countries, compounded by difficult economic conditions. Total demand in India, traditionally the world's largest gold market, declined significantly under pressure from record rupee prices and a major deterioration in the domestic economy. Demand fell 83pc on year earlier levels to just 17.7 tonnes. Industrial demand for gold in Q1'09 was 31pc down on Q1'08, with the electronics sector being the major contributor to this decline. End user demand for electronics goods has been badly affected by the downturn in consumer spending on items such as laptops and mobile phones. Aram Shishmanian, CEO of World Gold Council, said: "There has been a seismic shift away from capital appreciation towards wealth preservation and we believe this trend will define investment behaviour in the next decade. "Gold, as one of the few assets that has held its value during the current economic crisis, has been sought out by investors who are drawn to its proven protective attributes as well as safeguarding themselves from the erosive effects of future inflation. "The shift in the balance of demand that we have witnessed this quarter, where the gold price has risen despite a severe drop in jewellery and industrial demand, perfectly demonstrates the robust nature of gold's fundamental supply and demand dynamics. "While jewellery demand is unlikely to return to more positive territory in current market conditions it remains a key market driver. Affinity for gold jewellery remains and we are confident that demand will grow as consumer confidence and purchasing power returns."

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