Share on facebook
Share on twitter
Share on linkedin
Share on skype
Share on telegram
Share on whatsapp

Macau Business Rents for parking spaces set to rise

An increase in public car parking charges will probably make renting private parking spaces more expensive, estate agents say

Rents for private parking spaces may rise again this year if public car parking charges increase, as seems probable, estate agents say.

Some estate agents have told Business Daily that rents might rise by up to 30 percent.

According to CarparKing Co. Ltd, the districts of Areia Preta and Horta e Costa have the highest rents for private parking spaces.

The rent for a parking slot there can reach between 2,000 patacas (US$250) and 2,500 patacas per month, on average.

CarparKing’s general manager, Chan Lik Ki, said rents were lower in the NAPE district and on Taipa, where they ranged between 1,000 patacas and 1,500 patacas.

CarparKing specialises in letting or selling parking spaces.

“Northern districts like Areia Preta and Fai Chi Kei have the highest rents and prices as these areas are usually densely populated,with a high number of vehicles but a lack of supply of parking spaces,” Mr Chan said.

He said rents for parking spaces, particularly in the north, had doubled in the past two years from around 1,000 patacas.

He expects rents to climb by up to another 30 percent if the government increases public car parking charges.

“If the government decides to raise the charges for some public car parks, this will definitely spur the private market to follow their lead,” Mr Chan said.

The Transport Bureau said on December 28 that it would consult the public in the first quarter of this year about changes in road traffic control measures, including increases in public car parking charges.

The bureau said charges might increase by different amounts in different districts.

Midland Realty (Macau) Ltd’s chief executive, Ronald Cheung Yat Fai, shares Mr Chan’s view.

“The increase in public parking charges will push up rents in the private the market, where the rate of return remains relatively low at the moment,” said Mr Cheung. “There is still room for a rise.”

He said, for instance, that a parking space worth 1 million patacas could be let for only around 1,000 patacas per month, meaning the annual rate of return was less than 2 percent.

But he does not expect sales of parking spaces to be much affected by any increases in public car parking charges.

Official data show that in November last year the city had over 216,000 motor vehicles, including over 94,000 light vehicles and more than 115,000 motorcycles, but that it had public parking for only 11,552 vehicles.

CarparKing estimates that the city has about 50,000 private parking spaces.

Parking space prices immune to new levy

Private parking spaces are still regarded as an easy and relatively cheap investment

   The expansion of the special stamp duty to cover sales of private parking spaces on October 30 has reduced the number sold but not the prices paid for them, estate agents say.

   The general manager of CarparKing Co. Ltd, Chan Lik Ki, told Business Daily that the expansion of the special stamp duty, meant to cool the property market, had tightened the supply of parking spaces but that demand remained strong.

CarparKing specialises in letting or selling parking spaces.

“The owners were quick to adjust to the new curbs. They either increased their prices by 20 percent to 30 percent or stopped selling temporarily,” said Mr Chan.

The special stamp duty is a levy of 20 percent on the sale of property of certain kinds if it is sold within one year of purchase, or 10 percent if it is sold within two years.

Mr Chan said a parking space in the Areia Preta area could cost over 2 million patacas (US$250,000), about two-thirds of the cost of some small flats.

He said the number of parking spaces sold had dropped by about 30 percent, but that rents for parking spaces had surged as more people rented them.

Midland Realty (Macau) Ltd’s chief executive, Ronald Cheung Yat Fai, expects the number of parking spaces sold and the prices paid for them to rise this year as hot money flows into the city.

Mr Cheung pointed out that the special stamp duty now covers sales of almost all kinds of property.

“The investment limit on car parks is low compared to other properties,” he told Business Daily.

Share on facebook
Share on twitter
Share on linkedin
Share on skype
Share on telegram
Share on whatsapp

Recent posts

Financial Advisory, Corporate Tax Planning or Optimization


中國《中華人民共和國個人所得稅法》簡稱《新稅法》於2018年08月31日正式修訂,條文指任何人於中國內地有住所的,即屬「稅務居民」;即使沒有住所,而在納稅年度於中國內地居住滿183日,亦會被定義為「稅務居民」,成為中國稅務居民會被中國徵收「全球稅」,全球稅即就個人不論於中國境內或境外的世界任何一個地方的收益,包括工資、做生意賺取的金錢、存款利息、股息、出租、出售物業,以至偶然所得等繳納個人所得稅。有關資訊,在早前文章《大灣區系列 中國稅務居民》已有說明。

Read More »
visa, approved, journey

舉家移民 資產點樣算

近月香港最受關注的話題除了港版國安法,就是「移民」,網上擠滿了形形式式不同地區的移民話題,例如台灣移民、加拿大移民、BNO移民、依親移民、讀書移民、寵物移民等等。本次移民潮涉及的階層廣泛,由中產至學生,由父母家長至寵物。數月前筆者曾於《移民潮會否推跌樓價?》比較過本次移民潮與九十年代移民潮的分別,及它對物業市場的影響。 近一年因中美關係緊張,各界擔心雙方角力衝擊香港經濟,紛紛建議將港元資產轉美金保平安。之後因應疫情,美國聯儲局於三月宣佈無限QE拓市,未等到港元冧,手上的現金已開始貶值,投資目標隨即又轉到實物資產上。在這樣急速變化的環境下考慮移民,對身心都是一場考驗。

Read More »
key, home, house

如何揀個好車位 | 車位投資篇

繼上一篇文章跟大家分享用家心目中好車位的定義,本篇續說對投資者來說,如何才算好車位?簡單說,用家考慮車位的因素較為短期,而投資者則考慮長期因素。這些長期因數可歸類為四種,分別為「現金流量」、「增值能力」、「抗逆能力」及「變現能力」。 先說現金流量,如要車位產生現金流,車位需要有較好的出租能力,如要衡量車位的出租能力,大家可以參考上一篇文章了解租客是如何考慮車位,在租客而言,如一個車位對他們來說屬好車位,該車位的價值及出租能力自然較高。

Read More »

Leave a Comment

Your email address will not be published. Required fields are marked *