Formerly a Portuguese colony until 1999, Macau has the 3rd highest GDP per capita in the world, it’s also the most densely populated region.
Probably you already know that it’s famous for being a gambling mecca as well.
Often overshadowed by news telling about the frenzy in Hong Kong’s property market, many know little about what’s going on a stone’s throw away, in Macau.
Juliet Risdon works as a Designer and Director at JML Property, a leading real estate agency on Macau, founded in 1994. Their international team has helped many foreigners with services like buying and selling property, tenant property services, repair procedures and more.
Macau is interesting for sure, a reason why Juliet has been interviewed by newspapers like the NY Times, Reuters and Financial Times.
Let’s see what she has to say about the property market in Macau.
Juliet, what are the general regulations when buying a property in Macau as a foreigner?
The only areas where the Macau property market discriminates between foreign and local buyers is the additional 10% stamp duty that is applied to foreign buyers and the limitation on land ownership.
Foreign individuals and legal entities can invest in as many properties- residential, industrial or commercial- as they would like.
Most people hear about the property market in Hong Kong when reading the news, Macau is less mentioned. How has the property market performed in Macau the past decade? Have prices increased much like in Hong Kong?
Continue reading Investing in Macau Real Estate: By JML Property