[Property News] Jones Lang LaSalle: A Strong Rebound in Macau’s Residential Market in 2H09 amidst Lower Interest Rates and Improved Economy

With the completion of the Chief Executive election and the listing of Sands China and Wynn Macau on Hong Kong Stock Exchange, Macau’s economic and political environment showed signs of improvement. Coupled with low interest rates, a high level of global liquidity, stock market rally and the beneficial mortgage and loan schemes, the investment sentiment was strengthened in 2H09 that resulted in an increasing number of residential property transactions and an uptrend of capital values in 2009 as a whole, according to Jones Lang LaSalle in its Macau Annual Property Review today.

Macau’s GDP recorded negative growth for the first two quarters but returned to positive regime in 3Q09, up 8.2% y-o-y. For the first three quarters as a whole, it still fell 6.8%. For private consumption expenditure, it declined by 0.5% y-o-y for the first three quarters following the negative growth of 1.2% y-o-y in 3Q09. Fixed capital formation decreased by 35% y-o-y for the first three quarters, partly due to the suspension of construction projects on Cotai Strip.

Gaming revenue experienced a turnaround in 3Q09 after reaching its record high of MOP 32 billion for a single quarter, with a growth of 22.2% y-o-y. However for the first three quarters as a whole, total gaming revenue still recorded a drop of 1.8% y-o-y. Entering October, gaming revenue continued to rebound and reached another record monthly high of MOP 12.7 billion. For the year to end-October 2009, Macau’s total gaming revenue reached MOP 96.6 billion, up 2.3% y-o-y.

For the tourist sector, total visitor arrivals fell by 7.1% y-o-y to 17.8 million for the first 10 months. However, it is worth noting that the y-o-y decline slowed from 11.4% y-o-y in 1H09 to 0.2% y-o-y for the period from July to October.
‘Thanks to the clearer picture of the global economy, Macau's gaming sector has regained its momentum and returned to the positive growth track since 3Q09, with new hotels and casinos opening in the city. This trend is expected to extend into 2010. With all these favourable factors in place, we can expect to see a more prosperous and healthy economy in Macau next year, lending support to the growth of the city’s property market,’ remarks Marcos Chan, Jones Lang LaSalle’s Head of Research, Greater Pearl River Delta.

Residential
Macau’s residential market has regained its growth momentum since 2Q09 when the global economy started to recover. Demand for residential properties strengthened with a dramatic pick-up in transaction volume from May onwards. The number of residential transactions returned to the pre-crisis level of over 1,000 transactions per month during the period from June to October. As of end-October 2009, a total of 7,944 residential transactions were recorded for the year-to-date, down 38.7% y-o-y.

For the mass–to-medium residential market, with the announcement of the 4%-interest rate subsidy scheme and mortgage guarantee programme by the government in 2Q09, purchasing demand strengthened significantly. As of December 2009, the government had approved 2,016 applications under the 4%-interest rate subsidy scheme and 1,471 applications under the mortgage guarantee programme. Since then, double-digit capital value growth was observed in the mass-to-medium residential market, bringing the full-year growth to 42.5%. Indeed, capital value growth was even higher in some of the newer schemes where demand is particularly strong.

On the leasing side of the mass-to-medium market, demand increased as some expatriates relocating to lower tier properties to reflect the contracted housing budgets. In 2009, mass-to-medium residential rents rose by 5.5%.

The high-end residential sector was less benefited by the government’s newly announced incentive measures as they were mainly designed for mass residential properties. On a higher base of comparison, high-end residential capital values grew by 21.9% in 2009. The leasing sector remained subdued as the number of expatriates in Macau continued to reduce. High-end residential rents remained stable after the dramatic falls in 4Q08 and1Q09, however, the completion and handover of One Central Residences has created some pressure on rents due to the increase in leasing stock. For 2009 as a whole, rents for high-end residential properties dropped by 12.6%.

‘While there is no indication whether the government will extend the subsidy schemes upon their expiry in June 2010, we observed that local purchasing power has been strengthened due to the government’s incentive policies. The number of local buyers for residential transactions in 2009 was on the rise and we expect this trend to continue in the near future,’ remarks Jeff Wong, Jones Lang LaSalle’s Head of Residential in Macau.

Several new projects were launched in 2009, such as Celebrity Lodge, Grand Eurheight, The Residencia Macau, Verde I & II, and One Central Residences. All of them were well received by the market. For the three years to 2012, there will be a total of 7,715 residential units entering the market. However, many of the newly completed units, estimated to be around 70%, have been pre-sold during their construction period. Thus, the effective number of new units available for sale is reduced to about 2,300 units.

‘Though there are risks of interest rate hike towards 2H10, ultimate holding costs will likely remain low and banks will remain positive towards mortgage lending. The mass residential sales market may slow down a bit as buyers will become more cautious after the strong run-up in prices in 2009. However, prices will remain stable as new units available for sale will remain relatively tight in 2010. For the luxury segment, the growing interest on Macau properties among the high net worth individuals from mainland China, coupled with the high level of liquidity and a gradual economic recovery, we expect there to be further room for capital value growth in 2010,’ concludes Wong.

Office
The year of 2009 saw Macau’s office market consolidate, with companies giving a high priority to cost savings. The majority of activities were for relocations to more cost-effective spaces, with expansion requirements not notably seen.

Having suffered from a slow momentum, office capital values and rents declined by 9.5% y-o-y and 12.9% y-o-y respectively in 2009.

‘Macau’s economy is expected to see a gradual improvement in 2010 with some of the suspended projects on Cotai Strip resuming their construction works and the construction of Hong Kong-Zhuhai-Macau Bridge moving onto track. It is not surprising to see demand for office space growing in 2010. However, companies’ expansion pace is expected to be slow at this initial stage of economic recovery. To look on the brighter side, the tight office supply will continue to lend support to Macau’s office rents,’ comments Gregory Ku, Jones Lang LaSalle’s Managing Director in Macau.

Investment
The year of 2009 saw foreign investors holding a wait-and-see attitude towards investment in Macau’s property market. Instead, local investors were relatively active, with properties in the four largest investment transactions during the year being purchased by the locals, fetching a total of about HKD 1.5 billion.

‘Hopefully with the reactivation of some of the suspended construction projects on Cotai Strip and on the back of a gradual global economic recovery, Macau’s property investment market will see a healthy growth in the coming year,’ says Ku.

[Property News] Mace to deliver Macau's first green residential development

Mace Group has won a project management appointment on a luxury residential development for client Guia Hill (Macau) Investments Limited, a joint venture between Macquarie Real Estate and VC Group. This follows an appointment to carry out a due diligence report of the project site and demonstrates Mace Group's continued work in the region.

The US$32m scheme comprises 30 luxury apartments over six storeys and a mix of public and private space on the roof including pools and landscaped decking. Car parking will be provided at basement and ground level. The client aims to delivery luxury to an international standard and the building has also been designed to the highest environmental standards such that it will be eligible for gold standard accreditation for its 'green' credentials. If successful, Guia Hill will be the first residential project in Macau to receive formal environmental accreditation reflecting the increased awareness of sustainability issues amongst its target market of mainland Chinese.

As project manager, Mace is responsible for the procurement and management of the consultant team, developing and managing the master programme, managing the design, procurement of the works and management of the construction process until handover. Work got underway in October 2009 and is due for completion in early 2011.

This role follows a previous appointment to carry out a due diligence report of the project site.

Macau Peninsula is a special administrative region (SAR) of China, approx 60km west of Hong Kong and Mace secured the role thanks to its local knowledge gained in the successful delivery of the Venetian resort and casino and other major projects in the region.

Windsor Arch announce $2.1billion financing package for the project 澳門名門世家項目貸款21億 (澳门名门世家项目贷款21億)

Pics Source : Tanrich Property




The Windsor Arch recently took a major step forward with the securing of project financing. A number of major banks in Macau including the Bank of China (Macau), ICBC Bank (Macau), ICBC Bank (Asia), Wing Hang Bank, Tai Fung Bank, Macau BCM Bank and Bank of Communications will provided a total of $2.1 billion financing package for the development of the project.

Located at Taipa, Windsor Arch will consist of 10 apartment towers within the complex. The first phase of the project is scheduled to complete in 2012, while the second and third phase constructions will begin next year.

七家澳門及香港銀行與新建業旗下房地產發展公司 - 威得利企業發展股份有限公司簽署三年期, 貸款額達21億銀團貸款用作發展“名門世家”商住項目。 是次銀團貸款是近年澳門非博彩娛樂類中最大的, 並獲銀行超額認購。 貸款由中國銀行澳門分行、中國工商銀行（澳門）牽頭, 其他參貸行包括中國工商銀行（亞洲）、永亨銀行、大豐銀行、商業銀行及交通銀行。賬務代理行為中國銀行澳門分行, 押品代理行為中國工商銀行（澳門）。

三年期合共21億貸款分成兩部分, 一部分用作現有短期貸款的再融資, 第二部分為“名門世家”第一期開發費用。

澳門大型焦點新盤“名門世家”座落氹仔, 面向澳門賽馬場, 可眺望金光大道和旅遊塔。 由10座樓高47層的物業組成, 合共提供1512伙(標準戶面積介乎860至2,090方呎, 複式戶面積約3,500方呎, 另提供19間位於物業頂層的別墅)。 項目以歐洲建築風格, 以及提供傳統英式服務為特色, 而且建有名為「尊戶」雙會所、雙泳池等設施, 更有到戶式管家服務。 首期預計2012年首季入伙, 第二、三期可望明年動工。

Sky Palace Duplex at La Cite 寰宇天下海景天際獨立屋 - 「天池」首度曝光 (寰宇天下海景天际独立屋 - 「天池」首度曝光)

Sky Palace Duplex - located on 46/F and 47/F of La Cite.

位於澳門東方明珠區的豪宅項目「寰宇天下」頂層海景天際獨立屋「天池」首度曝光, 「天池」是全澳門首創私家天際泳池的特色府邸。 發展商早前於美國拉斯維加斯招標出售。 另外一個天際獨立屋「天籟」意向呎價, 發展商則暫未公布。

「天池」集最上乘的設備配料及巧手建築設計。 6房連4套房設計, 單位面積逾8,200方呎。 設有全澳門首個空中私人泳池。 全屋採用落地大玻璃設計。 客飯廳樓底高達20呎, 特設玻璃天幕可觀賞星空夜景。 室內設備包括價值逾百萬元之德國Varenna Poliform廚櫃組合, 配合Gaggenau廚房電器設備及美國SUB-ZERO牌雪櫃。 浴室除品牌配套外, 並設置三星LCD電視機。 其他設備包括智能家居系統, 遙控屋內燈光、音響及空調, 酒店式電梯大堂。 獨立屋擁千餘呎空中花園, 居高臨下俯瞰澳氹海景及澳門市全景。

Tower Four of One Central Residences will lanuch soon 澳門壹號湖畔年底推售第四座 (澳门壹号湖畔年底推售第四座)

Shun Tak Holdings Ltd announced that the Icelandic consortium has backed out of its contract to buy Tower 4 of One Central Residences - a luxury high-rise development on the Macau waterfront, due to the Icelandic currency and financial system imploded.

The consortium signed a contract in October 2006, to spend $4410 per square ft purchasing all 68 apartments of Block Four at One Central Residences.

The average selling price for Tower 4 of One Central Residences amounts to $5000 per square ft. Units will be available for sale at the end of this year. It was also asking about $12000 to $13000 per square ft for the 15 special units, and expected to fetch over $20,000 per square ft for the penthouse (triple floors) units development. The service apartment will be available for public sale in 2010.


信德物業表示旗下澳門壹號湖畔第4座, 早前與冰島基金取消交易, 涉及68伙將於今年底推售。

澳門壹號湖畔第4座意向呎價逾5,000元, 項目兩伙3複式單位呎價將逾2萬元, 面積8000平方呎。

壹號湖畔設有15個特色單位待售, 特色單位面積介乎2,000多至8,000多方呎, 基本間隔由2房至5房不等, 其中一伙獲買家出價每方呎1.2萬至1.3萬元。 每個單位包括廚房、浴室等設備的安裝成本均較分層標準單位高出2.5倍。　至於服務式住宅暫未定價, 最快2010年才會開售。

German Property franchiser Engel & Volkers enters Macau 德國安閣物業進軍澳門 (德国安阁物业进军澳门)

Engel & Völkers - Based in Germany, a property franchiser specializing in the luxury residential sector is to launch its first shop in Macau.

Located in Taipa, the shop is scheduled to open at the end of this month or early November. The property franchiser is now planning to open a second shop in 2009.

總部位於德國漢堡住宅代理行安閣物業（Engel & Völkers）最近正式進駐澳門, 首間分行於氹仔開設, 分行訂於10月下旬或11月初開幕, 安閣物業計劃於09年夏季開設第2間分行。

安閣物業未來會致力加強於澳門豪華住宅市場的品牌。

Speymill Macau Property acquires AIA tower for $600 million 美國基金Speymill6億元購澳門友邦廣場 (美国基金Speymill6亿元购澳门友邦广场)

Speymill Macau Property Company Plc said it has acquired one of the only few Grade-A office buildings in Macau - AIA Tower for HK$600 million. Located at the heart of the Central Business District of Macau, the investment in AIA Tower has been made through the acquisition of Cayman Island company's entire issued share capital - Turbo Ventures Ltd.

AIA Tower has 292,335 sq ft (27,160 sq m) of office space, 80,396 sq ft (7,470 sq m) of spaces which cater for the various retail tenants including Starbucks at the bottom levels, as well as 186 car parking spaces. The capital values of the AIA Tower are priced at over MOP$3200 per sq ft only, as this will demonstrates a significant upside potential for office investments. The currently contracted occupancy rates for the AIA office and retail space are 93% and 71% respectively.

"We are very pleased with this acquisition - an investment which we believe provides an opportunity to capture the growth in the office sector in Macau and offers potential for significant rental growth on the back of strong demand for commercial space. By entering the commercial real estate market of Macau, we are continuing with our strategy of providing investors with access to a wide range of property investments in the region." said by Larry Kearns, Chairman of Speymill Macau Property Company.

摩根士丹利（大摩）、建生國際及美國Wachovia銀行共同持有的澳門友邦廣場, 9月6日以6億元出售予美國基金Speymill, 交易平均呎價為3200多元。

澳門友邦廣場由大摩及建生國際分別佔60％及25％權益、Wachovia佔15％。 友邦廣場全幢21層(包括5層商舖及16層寫字樓, 3層地庫停車場)。 寫字樓樓面達306,270平方呎, 其中3層樓面連命名權出租予友邦保險。

Speymill全幢買入全面翻新的甲級商廈澳門友邦廣場。

Source : pioneerglobalgroup.com

Value Convergence and Macquarie Macau establish JV, and agree to purchase land in Macau worth $300 million 匯盈與麥格理集團組合營公司斥資3億元收購澳門土地

Value Convergence announces that the company has agree with Macquarie Macau Holdings Pty Ltd to establish a joint venture company - MVC Macau Property Development Fund, which will be equally owned by both companies. The two comapnies will contribute $95 million to this MVC Macau Property Development Fund.

The JV company has agreed to buy a piece of vacant land at Estrada de Cacilhas, Sao Lazaro in Macau at a consideration of $300 million, with site area of approximately 2,373 square metres.

The JV company will hopefully undergo transition to become the fund, if third party investors will be introduced within the year 2008.

匯盈宣布與麥格理房地產(澳門)成立合營私募地產發展基金公司MVC Macau Property Development Fund, 從事澳門投資住宅物業, 匯盈與麥格理集團合營公司各持50%權益, 共同控制公司實體處理, 雙方將向合營公司各出資9500萬元。 公司建議本年內引入第三者, 將合營公司過渡成為基金。

合營公司將斥資3億元收購位於澳門望德堂區海邊馬路一幅空置且未發展之土地(估計市值3.6億元), 地盤面積約2373平方米, 土地項目將開拓澳門中高檔住宅物業發展、興建及出售業務。 收購價40%將以外部銀行融資方式支付, 60%將以匯盈及Macquarie Macau對合營公司之出資由合營公司支付, 收購事項之買賣契據預期將於9月簽署。

Carlyle buys apartment blocks - Tower I and Tower V of Lot KL in Macau 私募基金斥資20億元購澳門華廈明珠兩座住宅 (私募基金斥资20亿元购澳门华厦明珠两座住宅)

Headquarter in US, private equity firm Carlyle Group has bought two residential towers in Macau located in the Pearl district. The deal was worth over MOP $2 billion.

Developed by Sin Kin Wan Group - one of the largest developers in Macau. The "Lot KL" project consist of five 35 storey towers and a total of 942 residential units. Carlyle Group bought out the first and fifth tower of this project, which comprise a total of 372 residential units, 372 car parking spaces with all in three-bedroom layout ranging in sizes from 1,582 to 1,603 sq ft plus clubhouse and commercial amenities. Carlyle Group is going to enlist an international interior designer, and transform these two residential towers into upper-end residences by enhance the layout and finishes of the residential units as well as the clubhouse and other common facilities.

"Lot KL" is expected for completion in mid-2009. This development is adjacent to the future Light Rail Station and the proposed landing point of Hong Kong-Zhuhai-Macau Bridge.

總部設於美國, 全球最大型私人股權公司之一的凱雷投資集團（Carlyle Group）首度進軍澳門地產市場, 向由發展商為澳門新建華建築置業購入位於澳門新興住宅區東方明珠KL地段 - 華廈明珠兩座大型住宅(項目中的第一座及第五座, 將包括會所及商業服務設施), 總樓面達六十萬方呎, 涉及全部三房間隔372伙及372個車位, 金額略高於20億元, 每方呎約澳門幣3300元, 面積由1582至1603方呎。

美國凱雷投資集團會聘請國際室內設計師, 提升兩座大廈住宅單位和會所等的設計及裝修, 將這兩座物業提升為高級住宅。

華廈明珠項目包括五座35層高住宅大廈, 合共942個住宅單位, 預期2009年中落成。 項目接近規劃中的的輕鐵站及籌建中的港珠澳大橋澳門落腳點。

Pic Source : mpfinance

Speymill Macau agrees US $132 million residential deal

Speymill Macau Property Company it had struck a $132 million deal to forward-fund the development of an upmarket residential building in Macau. The company has agreed to buy 259 units in the project from local developer Companhia de Construcao e Investimento Ho Chun Kei Limitada. These units are due for handover in 2010 (With units ranging from approximately 870 square feet gross floor area for 2-bedroom units to approximately 1,300 square feet gross floor area for 3-bedroom units, The development will consist of 4 towers). 30% of the total consideration is to be settled immediately with the rest payable upon completion.

"We remain confident in the demand for modern housing units in a supply-constrained economy that is growing its labour force very rapidly," said by director Peter Churchouse.

Shun Tak acquired new site at Nam Van 信德集團購入澳門南灣用地 (信德集团购入澳门南湾用地)

Shun Tak said it has acquired a new site in Nam Van, the new site is adjacent to the current project ‘Harbour Mile’. It costs $3.1 billion purchase from the third party. This will be the last few pieces of land available to develop within the waterfront area in Macau.

The property is worth MOP $4.049 billion dollar, with a size of 1.6 million square foot.

信德集團以31.45億元，向第三者購入澳門南灣逾160萬平方呎建築面積地盤用作興建住宅。信德集團計劃將與該公司擁有的另一南灣地盤 - '南灣海岸' 合併發展建設為綜合發展項目。地盤按獨立估值師估值為40.49億港元。

Shun Tak acquire the entire issued share capital of 'Prominent Princess International Limited' 信德購澳門酒店項目20%權益 (信德购澳门酒店项目20%权益)

Shun Tak Holdings has agreed to acquire the entire issued share capital of 'Prominent Princess International Limited' from STDM at a consideration of $238 million. Prominent Princess owns a 20% interest sole asset in Shun Tak.

信德集團以2.38億元 (1.378億元為收購股份代價，1.002億元為股東貸款) 向主要股東澳門旅遊娛樂有限公司收購Prominent Princess之全部股權及股東貸款，Prominent Princess唯一資產為信德娛樂20%股權。信德娛樂目前持有澳門聖母灣地盤，地盤最多可發展以作酒店用途建築面積約20萬平方米，及約7.4萬平方米作停車場用途，地盤發展正在規劃，尚未開始動工。

2007 Macau Property Price Up 29% 澳門樓價2007年上升29% (澳门楼价2007年上升29%)

澳門樓價２００７年持續上升，全年平均成交價較上年升２９％為每平方米１３６４９澳門元。工業單位、寫字樓的平均成交價分別為每平方米４９６７澳門元(比上年分別上升２１％)及每平方米２２２２９澳門元(比上年分別１４．１％)。訂立的不動產買賣契約共１７４４６宗，共涉及１．９萬余個單位１８８．８億澳門元，較上年分別上升１３．５％及６２．６％。不動產按揭貸款總額達９６６億澳門元，升４８．６％。

Interest Rate Cut 0.25% in Macau 澳門銀行2月4日隨香港銀行減息0.25% (澳门银行2月4日随香港银行减息0.25%)

澳門銀行2 月4日跟隨香港再減息0.25% (兩週內共減息1%)。澳門地產業者表示，銀行連番減息此舉將使供樓負擔減輕，每日交投量較減息前增近10%, 但樓價保持平穩。 因減息潮持續刺激租金上升，部分澳門二手樓更“租貴過供”令不少租戶轉租為買。

現在澳門銀行最優惠利率普遍為5.75%，減去銀行普遍提供的按揭利率約2.75%實際供樓利率只有3%。

Two piece of land auction in Macau 澳門拍賣兩幅住宅地, 比底價高出九至十倍成交 (金額14.229億元) 料帶動整體樓價升25% (澳门拍卖两幅住宅地, 比底价高出九至十倍成交 (金额14.229亿元) 料带动整体楼价升25%)

1月9日出售的兩幅北區筷子基相連住宅等用地最終由澳門發展商合共以14.229 億元投得。均高底價近10倍，估計該地日後開售呎價可達5500元，而業界料受是次賣地帶動今年整體樓價可望升25%。

梁志堅表示，9日以獨立投資公司的身分參與競投，競投價是以現市況評估，或因不太熟悉澳門情況，故未有中標，並認為地皮成交價稍高。

澳門土地委員會9日就北區筷子基D及E兩地段的出售進行開標，前者佔地1704平方米，底價5500萬元，後者佔地2967平方米，底價9500萬元，分別接獲22份及15份標書，兩地最終由天偉投資有限公司投得，成交價分別為5.55億及8.679億元，分別高底價近10倍。上述兩地可興建住宅、商業及停車場，建築物高限為90米。

而以天偉投資有限公司總經理身分入標的澳門地產發展商廖僖芸表示，該地段具發展潛力，加上澳門土地資源買少見少，故出價合理，估計發展地段需要兩年多的時間，屆時澳門樓市發展會更加健康和穩健，客源目標為中高檔客。

筷子基兩幅拍賣地資料

D地段
地盤面積 : 18,342平方呎
用途 : 住宅
地積比率 : 10倍
每平方呎可建樓面面積 : 183,419
底價 : $5,500萬
成交價 : $5.55億
每平方呎成交樓面地價 : $3,025
成交價高出底價 : 10倍

E地段
地盤面積 : 31,937平方呎
用途 : 住宅
地積比率 : 9倍
每平方呎可建樓面面積 : 287,433
底價 : $9,500萬
成交價 : $8.67億
每平方呎成交樓面地價 : $3,016
成交價高出底價 : 近9倍

Related categories of taxes while purchasing properties in Macau 買賣澳門物業有關稅 (买卖澳门物业有关税)

The property related categories of taxes
1) The property shift tax (presently calls stamp duty) - This is the tax need to be pay during transaction, the present tax rate is 3%.

2) Housing tax - This is the tax need to be pay to the government finance bureau, payment is approximately 16% of your annual rent.

3) land tax - The payment tax rate is very low especially if the land is own by the government.

物業有關稅種
物業轉移稅(現稱印花稅)----物業發出買賣時, 需繳納稅率為3%的稅。
房屋稅----物業每年均需要向政府財政局繳納之稅項俗稱業鈔其計算約為年租16%左右。
地稅----物業之土地的屋權如屬政府地則需繳交稅率相當低， 一般每年只是壹佰至數佰元以下揭。

房地產交易的費用 (房地產交易過程中應付的稅項及費用一般如下):

律師樓：臨時買賣合約見證費、買賣契、按揭契、買賣按揭或按揭銷號律師費。
財政局：物業轉移稅 （現稱印花稅）。
立契官公署/ 私人公證處：立契稅連印花稅、副賣契、按揭銷號稅。
物業發記局：領取物業證明書/物業登記書面報告書費用、買賣登記費、按揭登記費及按揭銷號登記費。


申請按揭貸款所需資料：
　※　買賣合約
　※　物業證明書
　※　入伙紙
　※　售樓圖書及價目表
　※　若作押樓宇為舊樓，須提供房屋稅單影印本

申請按揭貸款的審批標準
　※　對申請人的資歷及信譽分析
　※　還款能力分析
　※　抵押品的物業評估
　※　確定抵押率
　※　確定抵押貸款的期限、息率、保險額及費用等
　※　抵押品及貸款協議對銀行的保障