New Laws Impacting on Real Estate Property in Macao

In order to minimize the effects of inflation in housing costs and to control real estate speculation in the Special Administrative Region of Macao, the Macao Legislative Assembly approved in the first semester of 2011 the Law no. 1/2011, which entered into force on 8th March 2011, with effects on the urban rental income earned in the year of 2010, and Law no. 6/2011, which entered into force on 14th June 2011 and applies to real estate transmissions made within one or two year after the previous transmission.