Commenting on price dynamics in the largest residential segment and the rising cost of parking stalls, Perfect Group CEO Oleksiy Koval notes:
“In the comfort class, a parking space used to cost an average of $18,000; now it stands at $20,000. In certain residential complexes, the price increase is even more pronounced, with prices reaching up to $25,000.”
Outlining the construction economics and key factors impacting the final cost of underground parking for a developer, the head of the company emphasizes:
“The prime cost of construction works out to $16,000–$17,000 per parking space.”
Oleksiy Koval also highlights that developers typically manage to sell only about half of the parking spaces prior to commissioning the building. According to him, the process of completely selling out an underground parking garage usually stretches over three to five years after the property has been commissioned.
Read more details in the “Ekonomichna Pravda” article.
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