ESTATE AGENT EXPECTS PRICES TO FALL 5 PCT IN 2015

2014/11/20

From：Macau Business

Midland Realty (Macau) Ltd forecasts that real estate prices will fall by 5 percent next year, Business Daily reports.

The newspaper quotes the estate agency’s chief executive, Ronald Cheung, as saying the rise in prices is slowing as the gaming business slumps and investors seek property over the border on Hengqin Island.

“Visa restrictions have been tightened for mainlanders, gaming revenue is dropping and interest rates have been raised. All these factors have contributed to the instability of the real estate market,” Mr Cheung said.

He forecasts that this year about 7,700 properties will be sold, 36 percent fewer than last year and the fewest on record.

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