Boxes and parking spaces, prices still rising (and almost half buy to rent)

According to analysis by the Tecnocasa Group Studies Office, in the second half of 2023 in large cities, garage prices are rising by 1.3 per cent and parking spaces by 1.2 per cent. Florence is the city where they have grown the most (+3.4 per cent and +4.2 per cent).

Data on transactions carried out by Tecnocasa Group's affiliated agencies in the second half of 2023 confirm that 73.2% of transactions relating to boxes involved buying and selling, and 26.8% involved renting. In the majority of cases, those who buy a garage do so in order to use it (54.2%), but there is a fair percentage (45.8%) who buy it to make an income since it guarantees ease of management.

Those buying for personal use look for a garage in the same block of flats in which they live or in the vicinity (within 500 metres), of a size of around 14-15 square metres. Sometimes people look for larger dimensions, but buildings, especially historical ones, are not always equipped with them. In fact, it can happen that to make up for the shortage of boxes, a change of use of unused commercial premises is made, where possible. Sometimes people also buy a garage as an investment. The majority of box buyers are between 45 and 54 years old. 27.5% of buyers are families.

There is interest in buying and prices are in fact rising in areas where there are long-term road and transport works (e.g. tramways, subways, etc.) that often reduce parking spaces on the street or where redevelopment work is underway.