Buenos Aires parking lot investors who curbed their pesos in Capital Federal garages are enjoying double-digit returns now that parking spaces are an endangered species.
Parking Lot Investments Growing In A Sluggish Real Estate Market is the headline of infobae’s analysis which says the average Buenos Aires parking space appreciated 12% last year in dollars while generating a steady stream of monthly income for their owners.
The prospects are even brighter going forward when you consider that a.) 780,000 new cars are forecast to be registered this year in Buenos Aires on top of the one million autos nuevos purchased and registered last year and b.) street parking in Buenos Aires is going to get much more expensive and onerous this year.
As BA economist Orlando Ferreres tells infobae, “If I had fifteen or twenty thousand dollars to invest in something other than a financial asset, I would buy a parking space. It’s a real asset with a good yield.” That combination of lower price point, double-digit appreciation and monthly income is enticing more investors to a real estate investment trend we first spotted three years ago. (Full Story in Spanish)
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