Drop of 30 pct in housing prices forecast for 2015

2015/11/26

From:Macau Business

An estate agent thinks reluctance to buy while Macau’s economy falters means the average price of housing could be 30 percent lower by the end of this year than a year earlier, Business Daily reports.

The newspaper quotes Midland Realty (Macau) Ltd chief executive Ronald Cheung Iat Fai as forecasting that the number of homes sold this year will drop to 6,020, 21 percent fewer than last year.

Mr Cheung said the trend toward a cooler housing market could continue in the first quarter of next year.

Copyright@Macau Business