Cyclone “Vanya” aroused Muscovites’ interest in parking

Due to snowfalls, the demand for parking spaces has increased sharply

A series of powerful cyclones, which brought the heaviest snowfalls in Moscow in the last half century, as well as an acute shortage of free parking spaces in courtyards, stimulated activity in the parking space market. How much does it cost to buy and rent underground parking in residential complexes of the capital?

Last January, 1,100 transactions with parking spaces were concluded in the old Moscow market; over the year, parking sales increased almost fourfold, noted Tatyana Podkidysheva, executive director of NDV Supermarket Real Estate. According to her, the lack of parking spaces in the projects had an impact. Recently, developers have included a lower coefficient of provision of parking spaces in projects, especially for comfort and business classes. And the demand for parking among consumers is not decreasing. The majority of parking spaces are purchased at your own expense (89.5%).

The acute shortage of underground parking is especially noticeable in large multi-storey complexes located in the center of the capital, where every centimeter is worth its weight in gold.

As Valery Kochetkov, director of the “New Buildings” department of INCOM-Real Estate, told MK, this winter interest in underground parking in multi-storey residential complexes was fueled by strong cyclones. For example, in the capital, after the heavy Vanya snowfall in December 2023, the demand for the purchase of parking spaces increased by 30%, and for rent – by 80%, the analyst added.

The situation was aggravated by the increased interest of private investors in this type of non-residential real estate. As Est-a-Tet development director Roman Rodiontsev told MK, a new trend is gaining momentum in the Moscow market of new buildings – investing in parking spaces. Increasingly, private investors are purchasing several parking spaces and then renting them out to residents of the building, although they may not even have an apartment in the building. According to him, in modern residential complexes, utility bills for underground parking, as a rule, range from 1,500 to 1,600 rubles. At the same time, the average rental rate in December was 12 thousand rubles. per month, and now it has increased to 15–17 thousand rubles, and in a number of locations – up to 20 thousand rubles.

In 2023, a parking space in a new building in the mass segment cost an average of 2.2 million rubles; over the year the price increased by 36%, Podkidysheva reported. Now in new buildings in the mass segment (economy, comfort), the price of a parking space varies from 800 thousand rubles. up to 2.5 million rubles. It depends on the degree of readiness of the project and the location of the parking space in the parking lot, noted Valery Kochetkov. According to him, the most liquid in underground parking is the top level with a space next to the elevator. In above-ground parking, the most expensive spaces are on the ground floor.

According to analysts, the cheapest place to buy a parking space is at the excavation stage. As the stages of construction readiness increase, the price level also increases. At the same time, during the construction stage, the demand for parking is usually low, because First of all, the buyer considers options for purchasing an apartment under various mortgage programs that do not apply to non-residential premises. After moving in, demand increases, but about 40% of unsold parking spaces remain, which are already quite well rented out.

According to Roman Rodiontsev, more than 5 thousand parking spaces are currently sold in the capital’s underground parking lots. An interesting point: parking in the democratic east, southeast and northeast is more expensive than in the expensive west, southwest, and northwest (see table). “The higher cost of a parking space in the Eastern Administrative District, South-Eastern Administrative District and North-Eastern Administrative District in relation to more prestigious districts is associated with the current market conditions. The fact is that the cost of a parking space depends on the class of the project, the area of ​​the parking space, its location in the parking lot and the adjacent free space. Also, the cost is seriously influenced by the number of parking spaces in relation to apartments and the general parking situation in the area,” Rodiontsev explained. He does not expect drastic changes in parking spaces in 2024, since their implementation is entirely related to the apartment market.

According to Podkidysheva, the price level for underground parking will depend on several factors. If demand grows at a faster rate than in 2023, the price level will also increase. “In 2023, there were not only record sales of apartments, but also of car spaces. In general, the demand for parking spaces will be at an average level,” the expert believes.

“The situation on the underground parking market is difficult to predict,” said Irina Dobrokhotova, managing partner of bnMAP.pro, founder of BEST-Novostroy. On the one hand, a parking space is not an essential item, and with the tightening of mortgage programs there will be fewer opportunities to purchase real estate, including non-residential ones, for affordable amounts. “On the other hand, developers want to maintain demand and are launching various promotions where you can buy a parking space at a significant discount or even receive it as a gift when purchasing an apartment. You can also monitor proposals from city authorities and participate in auctions to buy a place for your car, this can be very profitable,” concluded Dobrokhotova.

Published in the newspaper “Moskovsky Komsomolets” No. 29220 dated February 20, 2024

Newspaper headline:
“Vanya” aroused interest in parking