The Third Standing Committee of the parliament has completed its study of the Sandwich-class Housing Bill, which may be enacted in April next year if passed.
The second reading of the bill has been set for Aug. 15.
Committee president Vong Hin Fai told a press conference the government has taken into account all opinions provided by committee members, expanding the bill from 54 articles to 56. The additional articles relate to electronic procedures, proposing that an electronic platform be established. Applicants should submit required documents digitally and any relevant notifications from the government should be sent digitally as well.
The aim of the bill has also been changed to helping Macau residents in specific financial circumstances, with income and asset conditions, solve housing problems, in particular helping them obtain residences.
The amended bill proposes that only non-residents be required to submit copies of identification documents.
Per the bill, this type of housing will have a 16 year blackout period from the date of delivery of each unit, during which units can only be resold to permanent residents of Macau.
It is proposed in the bill that, should an owner become unable to repay a mortgage during the blackout period, the proceeds from auction will be used to repay the government before the bank.
