Investing in parking spaces?

P

purplealien

Registered User
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I was looking up overseas property on the net last night and came across a few sites selling car park spaces costing approx €30,000. They all say that you are guaranteed to get a 100% return and then some.The car parks in question are for 5 star hotels abroad and hospitals. Has anybody ever invested in one?
 
I have seen them too and am very interested, not least because there are some available in India for hotels/hospitals etc for as little as £700!!! Even if doesn't work out, at that price it must be worth a pop. Not if it's an out and out con though. I too would love to know if anyone has any experience buying into this. Just think no leaking roof, broken toilet or break ins!
 
Hi - i was looking at the ones in India aswell. 700 pounds is only for a twelveth of a share though. If you were to buy a space i think you would be better off buying a full space because i think a twelveth of a space would be very hard to sell on.
 
So, useful if you have just a bike - just kidding! I do agree though, part shares in most things inevitably complicate things. I just wish I had that much to fritter on a parking space!
 
Whats the website for the indian property and are smaller investors less than 10 million allowed to purchase in india ?
 
Just so I understand - you're thinking of spending 30 grand on a 6 metre by 3 metre patch of space, in a country several thousand miles away away, buying from a company promising to double your money? I now fully believe that Irish people have gone stark raving mad.
 
Wasn't there some scandal about the car park in Beaumont Hospital a few years ago. As far as I remenber the hospital gave their land over to a pivate contractor who built the car park. He was to collect and keep the receipts from the car park. There was a monthly/annual fee that was to be paid to the hospital by the car park company for the concession of running the car park. The problem was that for every car that was wrongly parked (by visitors) anywhere in the hospital grounds, the hospital had to pay the car park company a large fine. The amount that the hospital ended up paying was higher than the fee they were suppost to receive off the carr park company in the first place.

A win win situation for the car park company, they couldn't lose.

I would have loved to be in on that deal, talk about having your cake and eating it. I wonder was the person who authorised it sacked (I doubt it).


Murt
 
Hey, listen, don't blow your money on one of those. I've got a huge bridge in a prime location in New York city I can sell you for a song. Check the details here - http://www.bartleby.com/59/8/brooklynbrid.html - especially the second paragraph.

Seriously, what on earth is it about foreign 'property' that makes Irish people unhook their brain before entering transactions ? Would you willingly send me €700 if I told you you would get a small share in a parking space in Ballymagash ? I could present a nice glossy webpage showing how busy the place was, how good the market for parking spaces was, etc . . . . It still doesn't make it a wise investment.

z
 
100% return on 30k would make the car parking space more expensive than car parking space in dublin / london..

If it sounds too good to be true ...

It probably is too good to be true...
 

Very funny ! I thought this was a gag when I read the 1st few! If you must "invest" in parking spaces.
Guys you CAN buy a space in Dublin for 30k And have a good chance of returning 150e / month on it. Look on Daft...Think of the money you could save on parking over the Xmas shopping period... But sure Im sure it would be much better buying it in India for some inane reason.
 
Quite simply a nutty idea! For crying out loud folks! Have you lost your marbles or what??
 
Take that as a no then.
Well wouldnt it have been even more stupid if i had gone and bought it without asking anybody for some advice. At least that shows that i have a few more braincells left.
 
In the early stages of the Hungarian market to foreigners, before the Irish and English got involved, I was able to pick up a handful of parking spaces that were left over in a new development in the city centre in Budapest. This was before the developers knew the real value of downtown parking, and I got them for small money at the time. All are now leased to a foreign multinational with offices nearby, giving an obscene return on the original investment.

The traffic in Budapest was light then, and nobody paid for parking, you could always get parked on the street. A few years later however the number of cars increased exponentially and the clampers came on the scene.

On the other hand, you wouldn´t find that kind of value there nowadays; the developers are much sharper now.

It is always possible that such value is available in other emerging city markets, but that is not the kind if deal you will get from an agency or on the internet. You have to be there and spot the gap in the market and grab it quickly.
 
the indian car parking sounds good but can anyone answer the question..

can you invest if u have less than 10 million..
 
I suppose he meahs rupies/rouples or whatever the indian currency is....

Excuse my ignorance as to currency but perhaps it's indicative of the general lack of irish interest in such places. After all who cares what the indians are doing when there are much easily accessed markets closer to home.

India is a really wild punt in my opinion. Akin to buying farming land in Afghanistan in the hope that next years poppy crop will be a bumper one and that opium/heroin will be legalised in the west.

Good luck with it!
 
Foreign investors in indian market are only allowed to invest a minimum of 10 million as they dont want specuinvestors there at the moment...

Has someone heard otherwise or indeed been able to purchase property in india ?
 
india with growth of 7% a year and will be one of the next superpowers a wild punt i doubt it mate...

India / China -- China doesnt protect intellectual property rights india does..
 
ecstatic said:
China doesnt protect intellectual property rights india does..
Click to expand...

Bit off topic but what do Intellectual Property Rights have to do with investing in real property?

I was of the opinion that IPR's were a device insisted upon by the US and Europe to protect(the profits) of the large Multinationals of the developed world, in their quest for a share of the market in the developing world.
 
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