INTRODUCTION The year 2002 was a landmark for Macau, when its gaming industry was opened to competition. It became the main catalyst for strong economic growth, with the opening of new casinos such as Sands, Wynn and The Venetian. The residential property market also picked up after the strong employment market led to more consumption, while foreign investors also took advantage of the opportunities. 'We are confident of the outlook for the Macau property market in view of the strong economy backed by the gaming and tourism businesses' Wilson Chung, marketing director, One Oasis Taipa, near the Cotai Strip, and the Nape area on the Macau peninsula house some of the most expensive homes. Among top-of-the-range properties are One Grantai in Taipa and One Central Residences in Nape. New projects are mainly high-rise apartments. The detached-house market is relatively small. Transactions include: A 1,178 sqft unit at One Central Residences, sold for 9.2 million patacas, at 7,800 patacas per square foot. A 1,695 sqft unit at Vella de Mer, sold for 8.5 million patacas, at 5,000 patacas per square foot. A 3,041 sqft unit at One Grantai, sold for 17.64 million patacas, at 5,800 patacas per square foot. A 1,928 sqft unit at La Scala, sold for 11.92 million patacas, at 6,200 patacas per square foot.