Agnes Lam asks for real estate stats transparency

Agnes Lam

Lawmaker Agnes Lam has asked the government to increase Macau’s real estate information transparency, according to Lam’s written inquiry to the government.

Lam first pointed out that “the collection of real estate statistics from the Statistics and Census Bureau (DSEC) currently concentrates on the average price per square foot. However, it seems there is a gap between the estimated property price and the bearable capability of the property price of the residents.”

“The government could refer to some international reports and could also launch a median indicator of property prices, which is more reflective of the actual situation rather than the average price. […] In addition, according to local scholars, in other places, there are so-called property price estimates which are provided for the buyers’ reference. If the government has conditions, it could collect the concerned information and indicators,” said Lam.

In addition, Lam asked the government two questions. The first was about “the kind of plans and the timetable for the finance and economy secretariat aiming at continuously enhancing Macau’s real estimate information transparency and at improving Macau’s overall statistical work.”

In the second question, Lam asked if “the government will refer to other regions’ experience and thus add some specific real estate statistics indicators, such as the median price, the valuation, and the index of popularity of a property, the market return rate, […] in order to help local residents [who are interested in buying a property] make rational home purchase judgments.”