Real Estate Matters | The top 25 questions we are asked about Macau property – Part 4 of 5

Juliet Risdon

Juliet Risdon is a Director of JML Property and a property investor.
Having established the company in 1994, JML Property offers Investment Property & Homes. It specializes in managing properties for owners and investors, and providing attractive and comfortable homes for tenants.

10. Question: How much notice do I have to give on my rental apartment?
As a tenant, you have a few choices.
When the tenancy agreement is coming to an end, you can let the owner know you will not extend at any point leading up to the end of the lease.
If it is prior to the end of the agreement, you can give notice in accordance with the contract. For example, it may say that the agreement can be terminated with 2 months notice.
If the agreement does not have a termination clause, you can give the owner 3 months notice.
When a lease is broken, the owner has the right to retain part or all of the security deposit dependent on the notice period and the wording in the tenancy agreement.

9. Question: Who is responsible for looking after my rental apartment?
The tenant is responsible for the safekeeping and care of the contents of the apartment, and returning the apartment in the same condition that it was handed over with an allowance for reasonable wear and tear.
The owner is responsible for the infrastructure of the apartment such as the shell of the apartment itself, the plumbing, the provision of power etc. In other words, providing reasonable and safe conditions for habitation.

8. Question: I have a family, where’s the best place to live?
With a family, the best place to live is in a complex that provides a club facility.
As Macau suffers from a lack of space, the absence of a garden or recreational areas make a club facility extremely important.
Complexes such as Nova City or Ocean Gardens have large club areas, whilst buildings such as The Manhattan and The Buckingham also have club facilities such as a swimming pool and Gym.

7. Question: I’m alone, where’s the best place to live?
If you have access to recreation facilities through your work, or have joined a recreation club such as The Westin, then an older block in Taipa is probably the best place to reside as a single person.
You have convenient access to stores and restaurants, you are central to Macau, Cotai or Coloane, and there is a bigger choice of accommodation than you might find in Macau.

6. Question: Is it a good time to buy property in Macau?
If you are buying with the long term in mind, it’s still a good time to buy in Macau.
As more new casinos and resorts take shape on Cotai, the demand for housing will increase as the population grows. Property of a ‘livable’ quality is in short supply, and basic economics tell us that prices will continue to rise.
However, rising prices cannot continue indefinitely, and we are currently experiencing a slowdown of course. But we have to live somewhere, and it makes good financial sense to own the property we live in.
Apart from anything else, we are at least in control of our living arrangements, and not looking for a new place to live every 2 years.

Next week look out for our Top 5 and final part of the 25 Questions we are asked about macau property.

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