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The long-stagnant property market in the Special Administrative Region of Macao has finally woken from its slumber. Real estate firms are confident the upward trend will last.
During the first quarter of this year, more than 3,100 flats were sold at an average price of more than US$ 78,000 each. The total volume of transactions was 96 percent up year on year, and nearly 26 percent higher than in the previous quarter.
To capitalise on the trend, property companies in Hong Kong and Macau are taking full advantage of the opportunity, as are investors in the Chinese mainland.
Real estate firms and speculators in the region are confident the upward trend will last.
(CRI August 2, 2004)
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