The first step in purchasing real estate in Macau is to have a Promissory Contract made by a lawyer, which includes information about the buyer and the seller, as well as complete details about the property, agreed price, and special terms and conditions of the contract. At this point, the foreign national buyer should make a down payment of 10% of the purchase price.
However, it is strictly recommended to perform a full search certificate at the Macau Land and Real Estate Registry Office or “Conservatoria do RegistoPredial de Macau” first before signing the Promissory Contract to be certain that the seller of the real estate has clear title to own and sell the property. To complete the purchase, all necessary documents should be signed and fees must be paid. These include stamp duty of 3% of the real estate purchase price, notary, registration fees and property tax.
The price range of an apartment in the city center of Macau is US$5,201 to US$10,310 per square meter, while an apartment outside the city cost about US$4,000 to US$7,345 per square meter.
These include real estate agencies that a certain property is listed with, which prospective tenants can directly contact to arrange a viewing. The average deposit for new tenants is three-four months’ worth of rental. Those who sign a rental agreement of one year will be charged with one month worth of rent to renew the contract. Several rental accommodations in Macau already come furnished with beds, couch, television, TV stand, dining tables and chairs, coffee table, wardrobe and washing machine. However, a lot of apartments do not have oven, so tenants will have to buy it for themselves.