13.10.2008 - Just what is happening to Macau’s property market?
From Macaudailytimesnews.com: The current financial instability in the Worlds’ economy is certainly going to affect Macau property prices. The question is; How ? Opinions vary of course, that is the nature of ‘forecasting’. One of the world’s most respected financial institutions, the International Monetary Fund or IMF, predicts recession in USA and Europe. You may think that all these smart people gathered under one roof would be able to predict the future very accurately. In fact, the IMF predictions have been accurate less than 10% of the time. The opinion of the President of the Macau Association of Contractors and Developers, Mr Fong Chi Keong has been quoted in various media this past week. He stated that Macau Property prices may fall by 30 to 40% by the end of the year, and the downturn would last for exactly 20 months. Amazing insight..... Full Article: Source