UM research group proposes three housing policy models

2013-12-13

From：Macau Daily Times

Three proposals were released yesterday by an academic team regarding the “Macau land for Macau people” objective mentioned in the Chief Executive’s policy address last month. The three plans kept the condition that designated flats can be transferred and possessed only by Macau permanent residents.
CE Chui implied during the policy address that the government is researching housing policy and a conclusion could be reached by 2014.
Invited by the Secretariat for Transport and Public Works, a research team comprised of scholars from the University of Macau (UM) released its three proposals that could hopefully work as a complementary to the current housing policy on affordable public units.
The three mentioned plans are:
Upgraded affordable units, which are built and sold by the government and provided to home starters with a relaxed income threshold. A second assistance model, in which construction and sale are either conducted by the government or executed by developers under the authorities’ lead; home starters are free from income threshold restrictions. The last option is much more market-driven. Similar to “Hong Kong properties for Hong Kong people”, the government grants land to private enterprises through open bids to build the units. Developers are not allowed to keep or sublease any units after the project is completed. All apartments are sold openly according to market prices but only to permanent residents or PRs with their resident families in cases of joint purchase.
The land resources for the project are idle land lots that are already granted by the government, as well as the five reclaimed parcels from the sea, the research group advises. In addition, in the quasi-HK properties for HK people plan, the group suggests land attained through regional cooperation as the third source.
The proposals guarantee these units will not enter the private property market and support those classified as the “sandwich class” to purchase a house to live in.
3,000 residents were interviewed on housing related topics. More than 80 percent said they are willing to buy units within the “Macau land for Macau people” scheme for their own use. About a half hope the price could be under MOP1.5million. More than 50 percent of interviewees hope that the units can exceed 700 square feet. GY

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