Property | Housing Bureau predicts more supply than demand
The Housing Bureau (IH) has published the final report about the demand for public housing in Macau. According to the document, which was drafted by a local think thank, the demand for public housing could reach 36,000 units by 2026, including 15,000 social housing units and 21,000 affordable housing units.
For the medium and long-
term, the supply of public housing will exceed 40,000 units, according to the report.
Considering both public and private houses, the IH-commissioned report predicts that in the medium and long-term there will be the need for 250,000 residential units in Macau to host residents, non-resident workers and students. However, the IH expects that the number of units built by 2026 may reach 290,000. This discrepancy may result in “the existence of some unoccupied units.”
The IH stated that the report will serve as “a reference to the long-term development of public housing in Macau.” The document is now available at the IH website.
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Long term vision is key. But the CURRENT situation is also vital. There are many of us who are desperate for affordable housing right now.
“the IH expects that the number of units built by 2026 may reach 290,000”
and what % of this is expected to be public housing?
All these “reports” are pointless if nothing is being done on the government’s side. What’s the point of supply of housing when home prices are out of this world?