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16 November 2022 | News

Catella Market Tracker Parking

Dear Readers,


Admittedly, when we name our new market tracker "The Market for Parking Facilities" instead of the colloquial term "parking lot," it comes across as somewhat neutral, detached and factual. But when it comes to "parking spaces," things quickly get emotional. Especially if you continue the cascade: "Parking in the area of tension between climate change and mobility requirements". Here, several aspects come together that in the past occupied a rather isolated position.

Parking remains emotional even in turbulent investment markets, especially as parking garages are increasingly on investors' radar. The reasons: A steadily increasing demand for "stationary traffic", the strong break-up of the so-called modal split as well as an ongoing urban redevelopment, which combines both previously mentioned elements in a new way. In addition: Operationally, around 60% of European parking garages are facing comprehensive refurbishment measures in the next 10 years. Whether this will lead to a push or a sanction of the asset class "parking", we have shown in the current report.

Some aspects that highlight the struggle for parking space are:

- On the first of January 2022, the number of registered passenger vehicles (passenger cars) in Germany was approximately 48.5 million, representing a year-on-year growth of 0.6%.

- In the European Union (EU) as a whole, the number of passenger cars per thousand inhabitants clearly increased in the years 2011 to 2020. In the EU, for example, there were 560 cars per thousand inhabitants in 2020 (2011: 486 cars).

- While Germany and France are well above the EU average, the figure in Sweden has been stagnating for years.

- The highest growth rates in the number of passenger cars per 1,000 inhabitants between 2015 and 2020 can be found in Romania (+45.2%), followed by Lithuania (29.9%). Among the countries considered, Bulgaria is the only country with a negative growth rate. In Sweden, the growth rate was just above 0%, at 0.4%.

- The market for parking garages in Europe has become more dynamic from the investor side in the last two years. The transaction volume in Europe (2020 - 2022) is €325 million, the average acquisition yield is 5.25%, and the property value of an average parking garage is between €25 and €31 million.

The current situation shows that there will be a clear need for parking garages in European cities in the future. However, the parking property class must also adapt to the situation in order to meet the new needs of customers. Due to the increasing popularity of e-cars, for example, the provision of charging stations is becoming the focus of strategic decisions by parking garage operators.

Enjoy reading and analyzing our map of Europe.


Download Catella Market Tracker Parking 2022 (German PDF)