In the age of globalization and ever-growing need for travel, airports are as frequently visited as shopping malls. The annual number of passengers in Heathrow airport alone is 78 million.
How many of these passengers need to travel to the airport by car?
This is why the market of airport parking (also known as car park space investment) is flourishing and has been growing tremendously over the past decade, making it one of the fastest growing assets of our time.
It is less hassle to park one’s car in the airport instead of getting a friend to drop them, and then again pick them up when they arrive again.
So why do investors choose airport parking spaces?
They are less costly than other assets in the real estate sector (ranging around GBP 25,000). Some companies offer fixed returns as high as 8% per year.
By investing in an airport car parking space, you own that area. Therefore, in the UK for example, you are provided with a Title Deed, outlining that you own this parking space, legally, guaranteeing you that your offer is not a scam.
Another factor that attracts many investors to a car park space investment is the leasehold period, which can be up to 999 years (basically for your entire lifetime, your children’s and your grandkids’.)
It is important however to choose your parking investment wisely, as with any of your investments. A better airport parking investment is one with a developer that has relations with the airport itself. Prioritize airport parking spaces which offer shuttle services; they are safer, more guaranteed, and reputable.
Do not forget to read on or inquire about the statistics of the airport itself; the number of passengers, daily flights, regeneration plans, and size. The more the people traveling to and from this airport, the higher the possibility your parking space will be occupied. Sometimes, even that is not a problem if you are working with a reputable developer, as they can have occupancy rates as high as 98% – thereby assuring that your parking space is always occupied. This is often how they guarantee your fixed returns as well.
To invest in parking spaces is to invest in your future – which we believe in OPI to be the benchmark of any good investment.
Best of luck, and happy investing.
For more information on airport car park investments, check out our website
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+971 4 440 3101