Generally when looking at the timing for buying and selling property, we look at two things;
- The current market trend
- The cyclical influences with in the year.
The Current Market Trend
- The rent someone else is paying pays off the mortgage
- The increasing market value over the long term.
The Cyclical Influences within the Year.
With the new laws in place regarding borrowing, purchasing property in Macau has become harder and the market has slowed slightly.
However, it is still robust, and potential investors, homeowners and buyers are asking; Should I buy now, or wait ? Of course, this is the primary question asked by all potential property buyers.
With the continued influx of Construction workers, Casino and Hotel employees there is a constant need for good rental properties and properties for sale, plus the added factors of the University and bridge to Hong Kong opening in 2015/16 would suggest that investments do need to be longer term.
You might be surprised to know there are still a number of great deals in the market, as owners are always open to offers and negotiation.
There are properties that are available that you could either renovate, touch up or furnish with the help of a good agent and then let out. These properties can provide you with two ways of increasing the equity
Despite what has been happening in the real estate market globally, the silver lining is that as the global market begins to recover, Macau could see renewed interest from foreign investors which in turn could drive prices up further.
If you consider that there were roughly 600,000 residents in Macau in 2010, and that foreign investment is at an all time high exceeding five billion U.S. dollars, Macau is still growing and has some way to go yet.
In many countries there are better times of year to buy, such as prior to seasonal holidays or before school term starts.
Here in Macau, a relatively new market, there is no particular trend that we see that makes it a better time to buy. That's not to say that trends wont emerge in the future, but in the meantime we will have to use other methods to determine if it is the right time to purchase.
In conclusion, we can say with confidence that if you are able to research properties, make connections, and look around, you will eventually find the property you want at a price that is within your budget.
Provided that you have a long term view of the market and are prepared to take a perspective over the coming 5 years, Macau still has a lot to offer on property investment.