Housing prices forecast to rise 30 pct next year

2013-11-13

From：macau Business

Midland Realty (Macau) Ltd says housing prices will increase by 30 percent next year, a slower rate of increase than this year’s, our sister publication Business Daily reports.

Midland Macau chief executive Ronald Cheung Yat Fai (pictured) said the gap between demand and supply would drive prices.

“From 2008 onwards, we roughly estimate that at least 5,000 new homes were completed and sold each year,” he said.

If the trend continued demand for housing would greatly outweigh supply.

Mr Cheng’s forecast implies that the average price of housing will exceed MOP105,000 (US$13,125) a square metre next year. The record is MOP98,187 a square metre, set in May.

Copyright@Macau Business