International briefs

From the July issue: After months of real estate difficulties, the property market in Macao may be getting a boost.

Earlier this year, property transactions in the autonomous special
administrative region of China were at their lowest point in 24 years,
according to the International Herald Tribune. Only 311 apartments were
sold in Macao in January, the lowest number of sales since 1985. Prices
for apartments larger than 150 square meters have fallen 36 percent
over the past year due to the global economic downturn and Macao’s
stalled bureaucracy.

But now transactions are starting to speed up again. Roughly 960
apartments were sold in March, and the election of a new administration
is expected to heat up the stalled construction market. As visa
restrictions lighten, Macao, which is the world’s largest gambling
market in terms of revenue, will also be able to draw more gamblers. Compiled by Sara Polsky