In this post we would like to have a quick overview of the most relevant (and unknow!!!) reasons to support the decision of investing in garages.
- Lower maintenance cost and taxes. When comparing buying an apartment to a garage, the last one has a much lower maintenance cost, shared cost with the rest of neighbours and taxes – IBI (Impuestos de Bienes Inmuebles) in Spain.
- Lower acquisition cost – investment needed. Price can vary a lot depending on the city, neighbourhood, and many other variables. That is why price range goes from 5.000 to 60.000 Eur. Consequently garages are easier to ¨approach¨ for not common investors as, most likely, they will not require to look for funding (banks, relatives, etc).
- Profitability/output – high demand. Due to the few parking slots in our cities, the demand for garages is high (and increasing!!!). This situation makes garages a perfect product to be rented and obtain benefits regularly.
¨In Spain, buying a garage to rent it has an average yearly output
(performance/profitability) of 5,6%. In some neighbourhoods this number can go up to 8%.¨
In terms of output (performance/profitability), Murcia has the highest in Spain with 5,7%,
meanwhile Madrid has 2.8%
- A product easy to buy and sell. Due to the lower price of a garage compared to an apartment, buying but also selling a garage is much easier if we wanted to resell this kind of properties. It is a product with high rotation.
- Safety for your car. Parking your car in your private garage can save you from lot of unexpected ¨things¨ that may occur in public spaces. Also, why not to say it? We will be in a better mood, because nobody likes wasting time looking for a parking slot and, probably, having to pay for it.
Do you want to move forward?
If you are thinking about buying/investing in garages, you can reach us here
by email or phone. We will be happy to tell you the options we have in Cartagena and Alicante.
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