How much is a parking space? The location defines value.

Annoyed by the parking space search the driver circles the third time through the quarter. I sit smiling on a bench watching the game in the shadow of a cooling tree. This is not a single occurrence, but daily reality in our large cities.

Ten minutes this takes on an average, according to a study by APCOA, according to own data the leading parking space manager in Europe. Apcoa concludes in this study that this search "devours a lot of time and money". But one thing they forgot, these experts: It is also getting on the nerves and stresses. It's getting on the nerves of the drivers and the neighboring residents and their fellow human beings and the environment. Parking lots or even parking spaces are a rare commodity. Where demand increases and the supply remains the same, the price also rises. An old wisdom and really nothing new.

What is the cost of creating a parking space? Outdoor, you will be charged with paving, including some gravel, a lamp and electricity supply and with a simple drainage about EUR 5.000.- per parking space. For a parking garage of steel with a proportionate cost for the lanes, ramps and approach/ departure approx. EUR 10,000.-. And in the case of an underground car park due to the complex earthwork and additional technology (ventilation, fire protection requirements, etc.) one can count as house number with EUR 25,000.- to 30,000.-. Add to that the location. Whatever may be hidden behind the word.

A tree with shadows, but only so far away that the leaves or branches do not come within the range of the car: The pavement on asphalt in February 2016 brought his, with joy, tears in his face and laughing owner. True, the situation did not play an insignificant role. The few m² for the car are located in the exquisite London district of Chelsea, right on Hyde Park.

But now it is not only the world-famous cities that report such records. In the small Luxembourg with its straight 115,000 inhabitants a parking space for still lazy EUR 225,000.- was offered at the beginning of the year 2017. Compared to the London parking space, the one in Luxembourg is even covered and comfortable in a new underground car park. Oh, I almost forgot: As in the advertisement, the object lies between the Boulevard Royal and the Rue des Bains - with an excellent bus connection.

A very different approach comes from the proud Spaniards: "Mass with class: the big number makes it." In the inner city of Madrid, the pitch prices before the financial crisis were around EUR 80,000.-. With the crisis, they have fallen to half - favorable EUR 40,000.- - and recover themselves again in the direction of the old value. In Madrid, there are many civil engineering companies and also many car parking systems (automatic/ robotic).

This has its background: the cityscape with its historical buildings and facades is to be preserved. They dig the parking spaces in the ground, up to 30m deep. The drivers place their car up in the transfer rooms of the automatic parking systems. For the investors again a profitable and profitable business, so I was told. We are now handing over the Madrid Longoria automatic parking system with its 42 parking spaces. Our next robotic parking system in Madrid, the project Madrid Gran Via with its 75 automatic parking spaces, is about to start.

Boston is not a large, but a prosperous city on the east coast of the United States. Unit # 236, "was announced 2015/2016 as a" rare opportunity to purchase a parking garage at Beacon Hill at the coveted Brimmer Street. " It is just a coincidence that the price of the offered parking space over USD 650,000 has agreed with the number of inhabitants.

Ultimately, however, the records are the ones that draw attention to themselves. Today, America not only boasts the 10 largest stock market companies, but also the world's ten most expensive parking lots. The investor Atlas Capital Group has built a building with 10 underground parking spaces in "42 Crosby St." in New York's Nobel district Soho. At the stated price of USD 1,000,000 .- / parking space, the buyer has offered by the motto "First come first serve". The sales launch was announced in September 2016.

Shaun Osher, CORE's founder and founder of CORE in Manhattan, said in an interview, "In Real Estate, location defines value and parking is no exception to that rule.”

Finally I would raise a simple question? Didn't we say: Double spaces with double stackers?

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