Garage parking investments have given up 13pc of their price since the peak, compared to 26pc for residential property, according to a new study from the appraisal company Tecnitasa.
Over 10 years, however, both types of property are neck-and-neck with a return of around 30pc, if the figures are to be believed (see chart above).
The study reveals that parking prices lag the residential market by a couple of years, in which case the price of garage parking will now start to fall more steeply than house prices over the next few years.
House prices are now back to where they were in the first quarter of 2004, whilst parking prices have only fallen back to the start of 2006 (below €19,000, on average).
The garage parking market was less speculative during the boom, hence the smaller bust, according to Tecnitasa.
