Garages are becoming great investment opportunities in Cote d'Azur

In Cote d’Azur, investing in private parking spots or in garages is turning to be a lucrative business opportunity for several reasons:

- it is an affordable investment since the cost allows a cash payment or an easy bank loan;
- good profitability (between 2.5 and 6% of the purchase price);
- condominium charges are low (between 7€ and 20 € a month) partly paid by the tenant;
- depending on the neighborhood, demand is very high and it is easy to find a tenant even before the previous one ceases the renting contract;
- no maintenance intervention is required when the tenant changes;
- Lease management is very simplified and in case of non-payment of the rent the situation is simple and the owner can easily take possession of the garage or car spot and rent it to another person;
- taxe foncière at the owner's expense is approximately one month of rent per year;

Prices for a private car parking spot or garage in Nice range from € 10,000 to € 70,000 depending on the neighborhood and on the type of parking. With regard to rent, monthly rent starts at 60 € and can reach 180 €. The value of the parking lot depends mainly on its location.