If a wholly foreign market seems out of reach or unapproachable, another SAR provides investors with opportunities closer to home. While Macau has recently been stifled by visa restrictions and an economic slowdown, Daisy Tang, associate director, corporate and investor communications for property company Sniper Capital, says, "The Macau property market remains attractively valued and likely to remain underpinned by Macau's powerful demographics, such as low personal debt, rising personal incomes and a continued influx of foreign workers.  Furthermore, prices remain at a steep discount to the Hong Kong property market - as much as 70 percent- and have lagged the recent rally."

She notes that Macau remains a "very long-term growth story," with planned casino and hotel projects slated to bring in a host of expat senior executives, most of whom choose to reside on the southern Macau peninsula or on Taipa, near to many of the large hotels and casinos. That means Macau is likely to see a demand for luxury properties, Tang says. Projects such as Sniper's One Central Residences feature the location, design aesthetic, amenities and family-friendly features both discerning local residents and wealthy expats expect.

For foreign investors, the legal and regulatory climate is ideal. There are no ownership restrictions and Macau has an open market. However, says Tang, "buyers should appoint a reputable lawyer to conduct a thorough due diligence on any property they are considering buying."

With low interest rates and a strong currency in play, Asian investors have a distinct advantage when looking at properties as far away as the UK. For those seeking something in Hong Kong's backyard, Macau is a long-term play that will gain traction as the economy picks up. Patience, prudence and a committed and trustworthy local partner are vital to the process, but those who have put purchasing plans on hold can be assured that property is on the rise once more as an investment opportunity. The buy-and-flip strategy may be a thing of the past, but confidence has returned – and that's a big opportunity for local investors.

"THE MACAU PROPERTY MARKET REMAINS ATTRACTIVELY VALUED AND LIKELY TO REMAIN UNDERPINNED BY MACAU'S POWERFUL DEMOGRAPHICS” - DAISY TANG, SNIPER CAPITAL  

(Extract from Prestige, November 2009)