Buying a parking space in Paris is a good way to increase your income. We explain why in this article by De Ferla Immobilier
Parking in Paris is expensive, there are fewer and fewer parking spaces in the streets and the lack of parking spaces in Haussmann buildings is making itself felt. Nowadays, we talk more and more about ecology, so we favour public transport or other soft mobility in order to reduce the number of cars in our capital. The problem is that the car is part of the daily life of many Parisians, so parking spaces are still very much in demand.
Prices for a parking space vary between an outdoor space, a covered space or a box. The location of the car park (in the city centre, close to transport or in nice areas) also plays an important role. Finally, we are interested in the security of the premises (guard, badge, video surveillance).
In Paris, the price of a box is between 35 and 75 000€ if it is well located.
Investing in a car park has many advantages for rental investment. The rate of return is very interesting because the cost of a car park is necessarily lower than the cost of a flat. Furthermore, the law does not set a time limit for the termination of a parking lease. The duration of the lease, the amount of rent or other conditions are negotiated directly between the two parties.
It should be noted that the rental period is rarely long, so it will be necessary to find new tenants and to renew the administrative operations often. In addition, it will be necessary to pay a property tax and declare the rental income. Finally, notary fees can sometimes amount to 20% of the purchase price, so you need to manage your budget carefully.
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