Research On The Real Estate Policy Of Macao

Owning a house is always believed as the basic needs for anyone in a society, this is particularly important in the eyes of the Chinese."Home"represents an irreplaceable value; it gives people a sense of security when owning a house, this concept in mind is basically inherited from traditional Chinese way of thinking. Therefore, Chinese people have relatively high demand in buying their own property. In Macao SAR, over 90% of the populations are Chinese, undoubtedly demand for housing for this group of people and their next generation is always at high level. As such, real estate always a major issue for the Macao SAR government.Since the introduction of more gaming licenses in 2004, the local property market soars to record highs which draw investors'attentions from all over the world. The property prices to reach historical highs over the years. It is nowadays widely believed to be far beyond the affordability for most people, owning a property is now becoming a dream even for a middle class family. It was not until the financial crisis taken place in 2008 which causes some degree of self-adjustment, however being the leading and high speed developing industry in the region the large volume of visitors coming over here has helped the market to sustain further growth despite of this, the impact is noticeably very minimal. This in fact deepen complaints and criticism from the general public against the real estate of the Macao SAR government which includes policies on public housing, commodity property, and policies in tackling property speculations, which forces the Macao SAR government to pro-actively creating measures to resolve the issue.The Macao SAR government policies will be primarily in providing social housing scheme, economic housing as secondly, which is being supplemented by other kinds of financial subsidies. Together with some other control measures being introduced its aim is to combating the property speculation activities bring the market to normal. Nevertheless, it seems that property prices have no sign of cooling down. People are disappointed of the housing schemes, and begun to doubt the determination and integrity of Government officials, suspecting some irregular transactions going on between the officials and property developers, causing a series of grievances in the society. "Caring the livelihood of its people"is always a top priority for the Macao SAR government, nowadays the phenomenon of the property prices is openly discussed and criticized in the community. This article will focus mainly in the study of residential property, conduct a insight look of the current real estate of Macao SAR, along with application of public management, public policies, social security system, to find out the advantages and disadvantages of it, aiming this could provide some possible solutions to solve the bottleneck issues confronted in this area and creating a harmonize society.