Hoje Macau. By Andreia Sofia Silva. 15 August 2023. Article in Portuguese.
In September, sale of apartments in the New District of Macau in Hengqin Island will begin. Suzanne Watkinson of Ambiente Properties comments on why she believes that, in the short and medium term, the impact on the local real estate market will not be great. In addition to housing prices not being affordable for many residents, there are still legislative and logistical constraints to take into account. However The New Macau Neighbourhood project is a first-of-its-kind experiment. If the experiment succeeds the model could be replicated, with the project serving as a template which in turn would impact Macau’s real estate. One cultural/societal reason more Macau and Hong Kong people do not move to the mainland is because some would prefer to live among neighbours who are their fellow Macau or Hong Kong people rather than mainlanders. Macau New Neighborhood project will be an interesting social experiment in this regard.
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