Casino slump halts housing boom, estate agent says

2015/6/25

From:Macau Business

The slump in gaming in Macau is beginning to depress the city’s housing market, Bloomberg reports.

The news agency quotes estate agent Jones Lang LaSalle Inc as forecasting that housing prices will drop by 15 percent this year, the first annual fall since 2008.

The estate agency’s director in Macau, Gregory Ku, links the drop to the decline in gaming revenue in the city’s casinos.

“We don’t see any upturn in Macau’s gaming industry in the near term, so I don’t see residential prices going back up,” the Bloomberg quotes Mr Ku as saying.

Copyright@Macau Business