The investment immigration scheme through buying properties in Macau will not be resumed at least for the next two years, according to government sources.

The Jornal Va Kio reported that the Government has no intention to review the decision, announced by the Chief Executive Ho Hau Wah during the Legislative Assembly’s question time on 3 April 2007, but it does not mean that such scheme has been terminated on a permanent basis.

According to BlogMacau.info, the sources explained that the Government wants to “suspend” the scheme, so that the property market can be made stable, and in practical terms, there are no policies that are permanent.

Since the suspension of the investment immigration scheme, property prices in Macau had once fallen by 20%, but that has been offset by hikes later.

The population strongly blamed the scheme for causing private properties in Macau unaffordable.

The scheme was first introduced in 1995 as a response to the weak property market at that time. The minimum amount of investment was set at MOP4 million, but was later halved to MOP2 million because of poor responses.

In 2000, the Government halved the minimum investment amount again to MOP1 million because of the economic downturn, but was later increased to MOP2 million as the economy improved.

The Government accepted a total of 7,939 investment immigration applications between 2000 and 2005, involving about MOP10 billion.

Some 27,589 people were authorized to reside in Macau through the scheme.

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