mbreport 90
Offi cial data from the second quar-
ter shows retail sales of watches, clocks and jewellery took the largest share of turnover - 24 percent - posting a year- on-year increase of almost 50 percent. Goods sold in department stores repre- sented the second largest share, 14 per- cent of the total value of retail sales.
Shopping for shops As retailing grows, so does the price of shops. The government says 1,551 com- mercial units changed hands last year. In the fi rst seven months of this year, 1,005 transactions were recorded. Midland Macau chief executive Ro-
nald Cheung expects this year to close with about 1,700 transactions, a number close to the record high achieved in 2007 when 1,823 commercial units were bought. Around 90 percent of units sold are second-hand. The total value of the transactions
gives a clue about the development of the retail sector in Macau. Mr Cheung says from January to July “we’re talking
As retailing grows, so does the price of shops. The government says 1,551 commercial units changed hands last year. In the fi rst seven months of this year, 1,005 transactions were recorded
about around MOP2.5 billion”, the same as for the whole of last year. “Defi nitely this year the total value of transactions will be higher than last year and will hit a record high,” he said. Who is buying all these shops? Mr Cheung says 82 percent of buyers are
based in Macau. That is a signifi cant deviation from the record year of 2007, when non-resident people were behind one-third of the total transaction value. The demand is driving up shop
rents, especially in the city’s tourist ar- eas. A shop near the ruins of Saint Paul’s was recently rented for HK$120,000 (MOP123,600) a month.
Why the frown? Curiously, retailers are not particularly bullish. According to the government’s latest retail sales survey in the second quarter, 59 percent of retailers reported a decrease in sales volume from the fi rst three months of the year, while just nine percent reported an increase. Seventy percent of retailers reported that prices remained stable, while 12 percent re- ported an increase. However, most retailers seemed
confi dent about the outlook with 56 per- cent expecting sales volume to remain stable and 18 percent forecasting an in- crease through the third quarter.
OCTOBER 2010
Photo: Luís Almoster |
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