Macau Business Daily Agents driving parking lot investment craze in Zhuhai

From here to Zhuhai with investment. Some local real estate agents are encouraging people to invest as much in parking lots in Zhuhai as they do here. Realtors say the dearth of spaces in Zhuhai means big business . Hengqin’s development,and the completion of major transport infrastructure will also ramp up demand,they told Bsiness Daily

Some local agents are seeking to spread the investment craze for car parking lots here to Zhuhai,as the mainland city’s authorities recently announced that the number of parking lots was falling short of the growth of private vehicl cruising the streets.

Carparhing Co. Ltd, a Macau-based agent specialising in the letting and selling of parking spaces, told Business daily tha The company has also been engaged in attracting buyers to purchase car parking the neighbouring city of Zhuhaiin order to capitalize on a growing population and number of vehicles overwhelming public infrastructure.

“Zhuhai is definitely seeing more Commercial activity as Hengqin is now in a development phase, and the infrastructure of the Guanzhou-zhuhai intercity railway and the HongKong-Zhuhai-Macau bridge completion will all bring more traffic ,”said CarparKing’s general manaer EricChan Lik Ki.

“meanwhile,the infrastructure in Zhuhai now is actually very similar to what Macau was like a few day ago:unlike Guangzhou and HongKong ,there is not a well-developed underground metro system within the city of Zhuhai .. .and people there, just like Macua ,park their cars anywhere on the streets when they can find [a space]

“……a few buyers have opted to buy a car and a parking space in Zhuhai,Lee choi Hong,Sun City Property agent

The average monthly car park rental in Zhuhai is now 300 yuan (US$48) to 500 yuan, local praoperty agents say.

The average selling price of a parking lot in Zhuhai, on the other hand, increased from about 100,000 yuan in 2012 to 200,000 yuan now ,chan noted. ”

As revealed by the Zhuhai transport authorities to mainland media in late June, there are 81 car parks in the city , which are all located in downtown Zhuhai on the eastern side of the Qianshan River. These car parks provide only 89,000 car parking lots, figure that falls far short of the current parking demand for about 190,000 parking lots in downtown Zhuhai, the Zhuhai transport authorities said.

However, this official figure does not include the private car parks that are illegally operating without the Zhuhai authorities ‘permission. The Zhuhai authorities also failed toprovide how many of these ‘illegal’parking lots were operational in the city

Gongbei trade

CarparKing,which established a branch in Zhuhai in mid-2013, said they managed to register a ‘double-digit ‘number of transactions for parking lots per month since starting operations there.Around 60percent of their clients are from Macau,claims Mr.Chan.

“Many local buyers have bought parking lots near the Congbei border, and also in Qianshan district, which is not far from Hengqin,”said Mr.Chan.

The Zhuhai transport authorities say the current number of private vehicles registered in the city exceeds 220,000.

Due to the dearth of parking spaces in Zhuhai,the city’s transport authorities say they will build as more as many as 114 car parks in the future ,but there did not announce the intended parking lots to public use.

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