Sell parking space / storage space / garage: Rating, condition, with or without real estate agent + checklist

A parking space or garage is worth between 3,000 and 90,000 euros depending on the location. In Munich, underground garage spaces can reach up to 80,000 euros, in Hamburg and Frankfurt between 20,000 and 45,000 euros, and in smaller cities from 3,000 euros. Anyone who wants to sell must first clarify: special ownership or special usage right? And: is selling even worthwhile — or is holding onto the space the better strategy?

Why parking spaces and garages are increasing in value

Parking spaces are considered the underestimated asset class in the real estate market. Three drivers are causing structurally rising prices in the coming years:

• E-mobility: Parking spaces with a Wallbox connection or pre-installed charging infrastructure can command price premiums of 2,000 to 10,000 euros compared to spaces without such equipment. Those who equip now can sell for a higher price.
• Urban density: New residential areas are increasingly being built without underground garages (cost pressure), existing parking spaces in densely populated areas are becoming scarcer and therefore more valuable.
• Elimination of parking obligation: Several federal states have relaxed or abolished the parking requirement for new buildings. The existing supply will shrink in the long term, while demand remains stable.

Parking spaces in A-cities have increased in price by an average of 40 to 70 percent between 2015 and 2025 — with significantly less administrative effort than rental apartments.

Types of parking spaces — what you own and what it means

Before the sale, you need to know what you legally own. The terms are used synonymously in everyday language, but legally and in the sales process, they make a significant difference.

Special ownership or special usage right — am I even allowed to sell?

The decisive point before any sale: Is your parking space recorded in the land register with its own page (special ownership) — or do you only have an exclusive usage right over the common property (special usage right)? The answer determines whether you are allowed to sell freely or whether the consent of all co-owners is required.

The binding information is provided by the division declaration. There, the community of owners has determined whether your parking space is special ownership or only establishes a special usage right. In doubt: look into the land register or inquire with the WEG management.

Rule of thumb according to construction type

1. Ground-level without walls: usually a special usage right — sale only with WEG approval.
2. Underground garage parking space with marking: eligible for special ownership (WEG §3 — marked garage parking spaces are considered “closed rooms”).
3. Single garage / locked garage: Separate ownership, free sale possible.

Rating: What is my parking space worth?

Price formation follows three levers: location, construction type, and condition. For individual parking spaces, the comparative value method is standard — comparison with actually achieved selling prices of similar objects in the same micro-location. For rented parking spaces, the income value method (annual net rent × factor 18–25) is supplemented. A professional Rating is indispensable — self-assessment regularly leads to under- or overpricing.

Price ranges by city and construction type

Value factors — what buyers really pay attention to

• Micro-location and parking pressure: Inner city with parking pressure achieves top prices. Residential area with resident parking permit significantly less.
• Dimensions: Suitable for SUVs (at least 2.50 m wide, 5.00 m deep)? Narrower standard dimensions are increasingly devaluing the property.
• Parking location in the garage: Corner spots and spots without pillars can command a 5–15 percent premium.
• Electric charging station as a value enhancer: Spots with an installed wallbox or conduit for charging infrastructure can command premiums of 2,000 to 10,000 euros — the trend is rising. Installation before the sale pays off in almost all top locations.
• Clearance height: Under 2.00 m excludes SUVs and vans — the buyer pool shrinks significantly.
• Rental situation: Existing tenants with a market-appropriate lease agreement are a buying argument for investors.
• Double parker / Duplex: Mechanics, maintenance costs, and weight restrictions usually have a price-reducing effect.

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Selling Process Step by Step

A parking space sale with its own land register extract proceeds similarly to a property sale — with some particularities.

1. Obtain land register extract: Check ownership, encumbrances, and servitudes.
2. Read the partition declaration: Are there pre-emption rights for co-owners of a WEG? Reservation of consent by the community?
3. Obtain WEG consent (if required): If there is a right of special use or a consent clause in the partition declaration, the WEG must be involved before the sale.
4. Market-appropriate valuation: Comparison value method or expert appraisal — no estimated value from the internet.
5. Find a buyer: Approach WEG co-owners first, then portals, then a real estate agent for premium locations or packages.
6. Purchase contract and notary appointment: Notary obligation exists always if you have your own land register entry. Costs: 500 to 1,500 Euro notary, 150 to 500 Euro land register change — usually borne by the buyer.
7. Handover and land register amendment: Transfer of ownership after payment of the purchase price; land register amendment is carried out by the land registry office.

Taxes when selling a parking space

Often underestimated — can significantly reduce the net profit. Details on speculation tax on property sales:

• Speculation period of 10 years: Sale within 10 years of purchase — full taxable profit (personal tax rate). After the period has expired, it is tax-free.
• Own use: If it is a pure rental parking space, the 10-year period applies without restriction.
• Three-object limit: More than three parking space sales within five years can be considered as commercial land trading — subject to trade tax.
• Land transfer tax: Paid by the buyer, depending on the federal state, 3.5 to 6.5 percent. Details: Land transfer tax table by federal state.
• Notary obligation: Sale of a parking space with its own land register entry is notarization-mandatory.

Return potential: Sell or hold as an Investment?

Parking spaces in good locations generate a net rental return of 3 to 6 percent — with significantly lower administrative effort than rental apartments. Calculate before selling:

• Purchase price underground parking space: 25,000 Euro
• Monthly rent: 120 Euro → Annual rent 1,440 Euro
• Gross rental return: 5.76 percent
• Ongoing costs (service charge, management): approx. 240 Euro/year
• Net rental return: approx. 4.8 percent

If your net rental return is above 4 percent and the parking space is rented out: Holding is often the more economically sound decision. Alternatively: continue as Investment property and sell tax-free only after the end of the holding period.

Selling an underground garage — special considerations

Who wants to sell a full underground garage follows different rules than when selling a single parking space. Underground garage packages are of particular interest to institutional investors and parking lot operators. A detailed guide with evaluation methods, buyer groups, and a checklist can be found in the linked article.

Selling a garage — a special case with a value bonus

Garages are almost always the premium case in valuation: enclosed space, separate ownership, lockable, often with electricity connection. Special features:

• Row garage vs. single garage: Single garages achieve 10–20 percent higher price per square meter.
• Hereditary lease trap: Garages on hereditary lease (often in garage courtyards) are significantly harder to sell — always check the remaining term of the hereditary lease before selling.
• Use as storage: Buyers from crafts and trade often pay more than pure car users.
• Electric Charging Station: Today almost a mandatory criterion for higher prices — Wallbox or conduit are clearly better than no connection at all.
• Structural Condition: Gate (swing gate vs. sectional gate), roof, floor — renovation backlog directly reduces the price.

Sell with or without a real estate agent?

Who has a single parking space, approaches the WEG co-owners directly almost always best. Who sells several parking spaces, a garage in a premium location or a basement garage package, should involve a real estate agent.

Common Questions

What is a parking space in the city center worth?

Underground garage parking spaces in the city center of Munich: 35,000 to 80,000 euros. Hamburg and Frankfurt: 20,000 to 45,000 euros. Berlin: 15,000 to 40,000 euros. Outdoor parking spaces are significantly less. Parking spaces with electric charging stations are additionally 10 to 40 percent more valuable than non-equipped spaces.

How does the sale of a parking space work?

First step: Check whether the parking space is registered as separate property in the land register. If yes, a separate sale is possible — with a notary and land register entry. If only a special usage right exists: Sale separate from the apartment is not possible without WEG approval. Notary fees: 500 to 1,500 euros.

Is the sale of a parking space taxable?

Yes, if the parking space has been held for less than 10 years — the holding period for speculation applies. If held for more than 10 years, the profit is tax-free. More than three sales within five years can be considered commercial real estate trading.

Is it worth installing a Wallbox before selling?

In top locations (Munich, Frankfurt, Hamburg, Berlin city center), the cost of a Wallbox installation (costs: 1,500 to 4,000 euros) is almost always offset by the price increase of 3,000 to 10,000 euros at the time of sale. In medium locations, the calculation is tighter — consulting a real estate agent is advisable.

Do I need a notary for the sale?

Yes, if the parking space is recorded as separate property in the land register. Without a separate land register entry (special usage right), the right of use can only be transferred together with the residential unit or with the consent of all co-owners of the WEG — also requiring a notary.

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