The Profitability Of Parking Spaces Shoots Up Almost 10%
Cities with higher traffic density are ideal for this investment due to parking problems. If you sleep at home … why does your car sleep on the street?
Owned parking spaces have once again been revealed as a profitable and safe asset in which to invest . According to the annual summary of the Fotocasa real estate portal for 2020, the profitability of private parking spaces has grown by 9.3% over the past year , although unevenly between the different autonomous communities and cities. This percentage represents a growth of one point compared to 2019 and 3.5 compared to 2015.
The profitability of parking spaces grows due to the unequal increase in the cost of purchase and rental: while the former remains more stable, the latter has increased faster in recent years . Although a single parking space does not offer more than about 120 euros per month (with exceptions), it is a fixed and stable income, ideal for saving people, who are not willing to take great financial risks, invest.
The three autonomous communities with the highest profitability have been Murcia, Catalonia and the Valencian Community, with growth of 10’2, 10’1 and 9’5 respectively. In fourth position is Andalusia, with an improvement of 9.4%.
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On the other side of the classification, below the national average, are the following communities: Canarias (9’1%), Baleares (8’9%), La Rioja (8’5%), Navarra (8’4 %), Madrid (7.5%), Cantabria (7.2%), Aragon (7.1%), Castilla y León (7.1%), Galicia (6.19%), Asturias (6.4 %), Extremadura (6.2%), the Basque Country (5.9%) and Castilla-La Mancha (5.9%), while the rest show a growth of over 9.3%.
The reasons that influence the price and profitability of parking spaces range from the volume of vehicles, the ratio between available parking spaces , the possibility (or impossibility) of leaving the vehicle parked on the street , the area of the city in the which is the garage (downtown or outskirts) and the size of it.