Witch one of you BTC's put their hand up for this? https://www.news.com.au/finance/real-estate/sydney-nsw/a-car-spot-in-sydneys-potts-point-has-sold-for-a-staggering-price/news-story/276b7926b27072df5364267f9c6cd467
Funny you should say that, had a look at a Potts Point property this morning. I’d pay that for a car spot there, better than money in the bank
You know, 10 years ago I guy I worked with in Brisbane paid $10k for a parking spot and I laughed at him ... he sold it a few years later for $30k Parking in Brisbane is ridiculously expensive , even compared to Sydney but selling parking spaces ??? Really ??
Potts Point is mostly unit blocks with no parking spaces and very little street parking. We’ve been looking at buying an apartment there for when we eventually downsize, so I’d happily buy a parking spot or two. Excellent investment with no real running costs Same thing in the Melbourne CBD, our place is in a heritage listed converted warehouse with no parking on site, so I bought a parking spot a couple of years ago in a building a few doors down. They’re as rare as hen’s teeth in that part of town so I jumped on it when it came up. This is what $100k buys you in the Paris end of the Melbourne CBD Image Unavailable, Please Login
That's cheap !! I parked in the Wilson carpark in Pitt St couple of years ago for less than 2 or 3 hours and had to pay $72 !! I called the attendant and said "hey mate, I just wanna rent it not buy it !!"
Just need to consider the bigger picture, limited supply, adds value to an apartment with no parking, holding costs are a few hundred dollars/year and in the meantime it’s probably going up in value by about 5% each year.
