Macau Yearbook 2013 - Macao Yearbook

Overview of the Macao Special Administrative Region in 2012allocation and arrangementsfor successful applicants tomove in gradually. There werearound 4,189 completed housingunits, with a further 15,071under construction, a total of19,260 available units. Underthe “post-19,000 units” publichousing programme, land hadbeen reserved for the provisionof more than 6,000 further units,among which plans were in placefor 3,800 units, and relevanttender invitation procedures had also commenced.In April, the Executive Council published the draft law on the sale of uncompleted residentialunits, and proposed to establish a system for the pre-sale of uncompleted residential units and theregulation of associated sale and purchase agreements. On 24 May, the Government announcedplans for the first public housing projects under the “post-19,000 units” public housing programmeat Lot 1, 2, Bairro da Ilha Verde; and on 6 July it introduced the second project at Northeast Road,Taipa.On 4 June, the Housing Bureau announced the ratio of public housing units to Home-OwnershipScheme housing units under the “post-19,000 units” public housing programme. On 20 August, thesale prices and shortfall repayment ratio of and the pre-sale arrangements for the public housingat Lot 4, Bairro da Ilha Verde were announced, so that families on the waiting list could graduallymove into their new homes.On 12 October, the Government launched a further series of policies and measures, whichaddressed the housing problem from three perspectives, namely managing demand, increasingsupply and improving the market mechanism. Eight measures were formulated in four directions– the loan-to-value ratios for mortgages, taxation, pre-sale of uncompleted flats and increasedsupply of residential units.To prevent property speculation by foreign capital, acquisition costs for non-resident flat buyerswere increased and restrictions on their taking out mortgages were tightened. The scope of the lawon the Special Duty on Transfer of Immovable Property for Residential Purposes was extended tocover shops, offices and parking spaces. On 24 October, an amendment to the law was passed bythe Legislative Assembly via an emergency procedure. At the end of the month, new regulationson the special stamp duty and extra stamp duty levied on the resale of immovable property cameinto effect.Revamping road networks to facilitate convenient commutingTo improve the overall living environment of local residents, the Government strived to createa harmonious and livable city through the sustainable development of transportation networks,77