In some German cities, you pay more than 150 euros per month for a garage parking space.
(Photo: © metropol IMAGES / Alexander Eilender)
Location, location, location: This is not only the mantra for residential real estate, but also for garages. “If there are lots of cars crowding along the side of the road every day, that’s the first sign that investing in parking spaces can be worthwhile,” says Martin from Dall’Armi. He is a board member at Future Construct. The real estate company near Munich specialized in garages more than 30 years ago. Today, buyers scan 500 to 600 properties across Germany every week for suitable parking spaces.
“The majority of our customers are institutional investors, but there are always inquiries from interested parties who want to buy one or two garages in order to then rent them out,” says von Dall’Armi.
There are several ways to buy a garage: via real estate companies that have special parking spaces in their portfolio or via real estate portals such as Immowelt, Immoscout or Ebay classifieds. Even the notice in the nearby supermarket can lead to a garage investment.
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