The cost of parking in new buildings in Moscow has increased 1.5 times in five years

A significant increase in prices for parking spaces in the capital’s residential complexes is due to high demand, which is stimulated by developers

Over five years, the average cost of a parking space in new buildings in Old Moscow has increased by 50%, amounting to 3.5 million rubles by the end of 2023. This was reported in the research received by the analysts of NDV Supermarket of Real Estate.

In comfort class, the cost of a parking space doubled to 2.5 million rubles, and in business class, the increase was 35% to 3.5 million rubles. In premium new buildings, the average cost of a parking space increased by 47%, amounting to 6 million rubles last year, according to the study.

Such a significant increase in prices for parking spaces in the capital was influenced by several factors, the company notes. “Firstly, the price of a parking space has increased due to the increase in prices in the high-budget segment. The second factor is the growth of sales and demand. Developers stimulate the sale of parking spaces through package sales, discounts and various promotions,” explained Elena Chegodaeva, Head of Analytics and Consulting at NDV Supermarket Real Estate. She clarified that at the initial stage of construction, the cost of parking space is lower than in the parking lots of residential complexes commissioned: on average, parking space becomes more expensive by 20-24% over the entire construction period.

Experts previously reported that the largest increase in the cost of parking spaces among the districts of Moscow last year was recorded in the districts of Lublin, Yuzhnoye Butovo and Khoroshevo-Mnevniki.

See also:

  • The Constitutional Court clarified the rules for registration of rights to parking spaces
  • 10 tips on how to choose a parking space in an underground parking lot

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