Garages sell immediately, few make it to real estate websites

Prices of garages rising,

By: sme.sk

Apr 25 2024
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Garages sell immediately, few

With the number of increasing cars, parking one's car in front an apartment building is becoming more and more difficult. Neither does it help that Slovak towns and cities lack parking houses and lots.

Owning a garage is one solution. However, even their numbers are insufficient, suggesting that their price might rise in the future.

Currently, the real estate website Nehnutelnosti.sk has approximately 500 garages on offer. About half of them are located in the Bratislava Region with prices ranging on average from €25,000 to €35,000. For comparison, in the Košice Region garages are sold for €24,000, while in the Banská Bystrica Region the price is €17,000.

In fact, most garages are not even offered on such websites because they are almost immediately sold or rented within a neighbourhood. The ones sold on websites are usually located in not very lucrative location or their price is inadequate.

The price varies depending on the location and the garage type. One located on the outskirts of a city or where parking is not a major problem costs half or even a third of what it costs in the city centre.

For example, a 1985 garage on Vyhnianska Cesta Street next to the Main Railway Station in Bratislava's Nové Mesto borough costs €20,000. On the other hand, a garage that is a part of an apartment building in Petržalka is being sold for €51,000. Such a garage can function as a storage area as well, and if located in enclosed premises, it can be considered premium real estate.

Generally, the prices of garages are rising, copying the trends in the apartment sector, and experts expect them to rise even further. The rise may be compounded, for example, by changes in the parking policy of a city.

There is little incentive for their owners to do the opposite.