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Second car park space

  • 30-06-2006 8:27am
    #1
    Battlejuice
    Registered Users, Registered Users 2 Posts: 77 ✭✭


    I was wondering if anyone knew whether it's worth investing in a second car parking space? I have one car and already have a designated car space but have the option to get another one.
    I don't need the second space just yet but was were wondering about renting it out or selling it on at a later stage.
    The location isn't city centre so I can't imagine anyone but the local residents wanting to use it.
    Has anyone else been in this situation?
    My gut instinct tells me it's a good move but it does mean an extra squeeze on the mortgage.


Comments

  • #2
    Bluetonic
    Registered Users, Registered Users 2 Posts: 7,588 ✭✭✭Bluetonic


    Dublin city centre spaces go for 100 to 250 euro a month rent. Averages in Dublin 1, 2 and 4 is around 200 euro.

    Have a look on daft - http://www.daft.ie/dublin/parking_spaces/ the market is flooded with them.

    Outside the city centre I'd say they are hard to rent.


  • #3
    hmmm
    Registered Users, Registered Users 2 Posts: 11,205 ✭✭✭✭hmmm


    Bluetonic wrote:
    Dublin city centre spaces go for 100 to 250 euro a month rent. Averages in Dublin 1, 2 and 4 is around 200 euro.
    Those figures are optimistic in my experience - average being about 50 to 150 eurons. What I've noticed is that city centre spaces have dropped in prices as lots more spaces have become available in outlying apartment blocks - presumably many drivers are happy to park up near Hueston for €70pm and stroll in or take the Luas in to their workplace.


  • #4
    homeOwner
    Closed Accounts Posts: 779 ✭✭✭homeOwner


    another thing to be aware of is that you cannot own a car park space in a complex where you do not own one of the apartments. so if you were thinking of selling the second space, it will have to be to one of the residents. also if you sell the apartment, you have to sell the car park spaces with it. it will specified in the deeds of the car park space.


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