Cities are limited by space, and the rise in parking space prices is influenced by tourism development, the renovation and expansion of business spaces, and the fact that most city centers are already built up. Additionally, the number of parking spaces has decreased due to the acquisition or rental by companies involved in car-sharing, with many reserved for government and embassy vehicles.
Another contributing factor to the price increase is that buildings constructed 20, 30, 50, or even 100 years ago rarely have guaranteed parking nearby.
Some parking spaces/garages in the center of Ljubljana have recently sold for as much as €35,000. In 2020/21, the prices were between €18,000 and €25,000 in the exact location. In 2013/14, garages in the same area sold for €9,000 to €10,000.
This represents a 250% return.
It’s no different in other cities. In the center of Zagreb, the most expensive garage sold for €150,000; in Belgrade, it was €63,000. In Trieste, some garage listings are already over €100,000.
While apartment prices have increased by approximately 90% to 100% on average over the last ten years, parking spaces in some city areas have seen even more tremendous growth.
While most people have invested in buying apartments, purchasing a parking space or garage might have been an even better choice.
Putting aside profitability, owning multiple parking spaces was a safer bet from a risk perspective.
If you invested €100,000, in case of liquidity issues, selling one out of ten parking spaces is easier than an apartment.
Maintenance of a parking space is also certainly cheaper than that of an apartment.
