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Finding a parking space in Murcia has become a near-impossible task, and for those hoping to invest in one, the figures are eye-watering. With limited supply and growing demand, especially in the city centre, prices have surged, with some premium spots are now selling for up to €80,000.

 

The rise isn’t limited to sales. Rents are also climbing, with many drivers paying between €120 and €150 a month just to secure a place to leave their car.

 

At first glance, buying a parking space might seem like a solid, low-risk investment. There's no need for the hefty outlay a home requires, maintenance is minimal, and the legal headaches that can come with renting out property don’t apply. In fact, a recent report from real estate platform Fotocasa ranked Murcia as the fourth most profitable city in Spain for parking space investment last year, with returns close to 9%—thanks in part to the removal of surface-level parking due to the city’s Mobility Plan.

 

But things have shifted. “There’s barely any supply left, and prices have gone through the roof,” says Pedro Gutiérrez of the Mirsan real estate agency. “No one’s buying as an investment anymore. People only buy if they really need one for themselves, even if they have to overpay.”

 

In the historic centre, neighbourhoods like Santa Catalina, San Miguel, and San Nicolás are among the most expensive, with few listings under €45,000. In contrast, areas like Santa Eulalia or El Carmen offer slightly more reasonable options, ranging between €20,000 and €40,000.

 

And what you pay isn’t always what you get. “Many of these garages are decades old and weren’t built for today’s SUVs,” explains estate agent María Dolores Buendía. “You’ve got to be careful not to scratch your car on a pillar.”

 

On the rental side, demand remains strong. “People are desperate, especially after the Mobility Plan,” says Gutiérrez. "If you see a ‘for rent’ sign on the street and wait too long, it's gone."

Public car parks have also seen a spike in pass requests, especially since around 2,000 surface parking spots disappeared. “We’ve definitely noticed an increase,” confirms José Fuentes, president of the Murcia Parking Association.

 

In Murcia today, it seems, a parking space isn’t just a convenience - it’s a treasure.

 

 

Image: Jan van der Wolf/Pexels