Will Anne Hidalgo put the owners of parking lots… in her pocket? By announcing the removal of 60,000 on-street parking spaces in the capital, if she is re-elected next March, the mayor of Paris strikes hard. "A suppression of parking spaces would mechanically lead to tension on the market and therefore to increase sales prices and rents", explains Charles Gérard, the owner of Monsieur Parking.
A glance at the numbers shows the potential for yield growth for investors. Of the 730,000 parking spaces in Paris, more than 120,000 are on the road and 611,000 are in private basements, commercial parking lots or concessioned parking lots. Cutting 60,000 spaces would therefore reduce the number of parking spaces in the capital by almost 8%.
"The level of tension will depend on where the parking spaces are removed," explains Charles Gérard. In the thirteenth, nineteenth and twentieth arrondissements, we have more offers than requests, so if we remove the places here, it should balance. "But hard to imagine creating cycle paths only here ..." In all the other districts, we are already in tension, so it can only get even tighter, "anticipates the expert.
Tickets sold for 50,000 euros
“The parking offer […] does not seem to meet the demand of households, in particular in the 1st, 2nd, 3rd, 4th, 5th, 5th, 7th, 9th and 17th arrondissements, where more than 30% of households have no access to a parking lot ”, we learn in a study by the Parisian urban planning workshop (Apur).
Parking: one check per minute in Paris
In the central districts, up to three cars out of four could not even be parked in private car parks as the supply is low, according to the same study. The offer is so rare that parking spaces can be sold for 50,000 euros in the capital and rented for more than 200 euros, depending on the district.
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So, a good plan for investors? Why not buy a parking space today, hoping that Anne Hidalgo will be re-elected and really remove these parking spaces? Yes, but ... "There is a risk, it is that Parisians continue to flee Paris ( Editor's note: 53,000 people left the capital in five years ), especially because of property prices, explains Charles Gérard. If you own parking spaces, but there is no one to rent them to, this is not a good deal… ”