Housing project land premiums increase threefold

2013-12-17

From:Macau Business

Housing developers will have to pay three times more for land leases from today, our sister publication Business Daily reports.

The newspaper quotes the Lands, Public Works and Transport Bureau as saying the average premium for land intended for housing blocks with more than seven floors has increased threefold after the government established new reference values for calculating premiums.

Developers will have to pay up to five times more in premiums for land intended for commercial or office buildings or for hotels.

They will have to pay up to four times more in premiums for land intended for car parking.

Copyright@Macau Business