Are car park bays good investments?

Throughout last year, a number of real estate analysts and economists advocated investing in car parks, due to their stability in pricing and ongoing increase in demand, essentially regardless of the market conditions (see old posts Car park values remain strong and What are the key things investors look for in a car park?).

PCI came across an article this week exploring the benefits of investing in car parks. The key reasons outlined included:

  • investing in car parks is still a relatively new investment idea and therefore prices are currently low, but likely to increase over the next few years due to greater awareness and demand
  • guaranteed returns over time, with the possibility of an ‘explosion’ in the value of the property, making it a much more valuable asset
  • being the ‘title holder’ of the property gives much greater control over the investment
  • versatility in the scale of the investment, from a few spaces to hundreds of them

Despite the higher ideals expressed in the today’s post on climate change and emissions, and given the expected population growth in key urban areas in Australia, the demand for parking spaces is only going to grow.

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