In recent years, parking in urban areas has become a very difficult task. At the same time, the purchase of individual parking spaces is an extremely expensive undertaking. In the cities of Madrid and Barcelona, the parking market has always been active, which should not be surprising, given that we are talking about the two largest cities in the country.
According to the report of the real estate portal "Pisos.com ", the average price of a parking space in the capital of Spain is 33,544 euros, and in Barcelona — 24,734 euros. All this, of course, is due to the shortage of free zones and high competition among buyers. Sellers work with their hands free in the matter of pricing.
At the same time, renting a parking space in Barcelona will cost more than in Madrid. On average, in the capital of Catalonia, you will be charged 106 euros per month against 89 euros in Madrid. The average yield from the provision of parking for rent in Barcelona is 5.33%. This is higher than in the Spanish capital, which offers 4.06%.
Prices for parking spaces vary depending on the area and bring different profits. In Madrid, the Vicalvaro district has the highest yield — 8.14%, the lowest profit can be obtained in Chamartín (1.47%). At the same time, in Barcelona, the most profitable parking lots are in Les Courts (6.83%), and the least profitable ones are in Sarrià Sant Gervasi (3.83%).
Ferran Font, director of Research at Pisos, notes that investing in parking spaces has a much lower economic barrier to entry than investing in housing, which makes this asset affordable for people with small savings and quite interesting, due to good profitability opportunities.
Interest in parking spaces has increased in recent months due to restrictions on the movement of cars with high levels of polluting emissions. This has caused increased interest in parking assets in Madrid and Barcelona, cities with clear, strict and consistent vehicle regulations and environmental protection.
The Chamartín district is the most expensive in Madrid, the cost of a parking space here is 85,566 euros, which explains its low profitability. On the contrary, in Villa de Vallecas, the average price of a parking space is 10,639 euros — a difference of almost 75,000 euros. In Barcelona, the difference between the most expensive and the cheapest areas is more modest. Sarrià Sant Gervasi offers parking for almost 39,800 euros, which also makes this area the least profitable in the Catalan capital. Conversely, Sant Andreu turns out to be the most profitable with a parking price of 18,370 euros.
As for the rent, the most expensive area to rent a parking space in Madrid is Salamanca, where you have to pay 129 euros on average per month. On the other hand, Villa de Vallecas is again the cheapest area for both buying and renting parking lots. The average monthly rate is 53 euros. In Barcelona, the area with the highest rental price is Eixample with 131 euros per month. The most affordable at rates turns out to be Nou Barris with 87 euros per month.