Interesting question to explore and really helpful info, thanks. I like the ease of parking spaces. For me, I'd tack it onto my rental property search and consider renting the piso, the storage unit, and parking space all separately to boost returns.
@@flippingspain thanks Mick! That’s a very interesting approach, it is possible but the taxation on the income / VAT applicable can actually change based on whether they are being rented in conjunction with someone’s habitual residence or separately (I believe it’s more beneficial with the habitual residence as I think there are more deductions)
Hi, thank you so much for giving us the benefit of your experience! I am planning on moving to Spain to retire, and I will be living with a relative as it's an easy option rather than buying myself a property with finance received from the sale of my house in the UK. Intially I've been looking at Holiday let apartments, or rural houses, short lets, and I recently started to think about commercial premises and parking spaces. I never thought of storage units to be honest, but after watching your video it has become an interesting alternative in my mind. Regards one of the cons you mentioned on parking spaces, the possibility of someone just parking in your space and causing a headache, would you say that this problem is less likely in a higher class parking complexes? Or is this risk just as high anywhere you buy a parking space? Best Regards.
Thanks for watching and glad you found the video interesting! As I don't have any first hand experience it's difficult to say, because as much as in a normal parking space you could end up with somebody parking in your spot, the same could happen in a more "high-end" parking lot, or worse you end up with a big SUV parked across two spots, one of which is yours (I did see this first hand, and in Dubai of all places! 😂). Hope this somewhat helps!
Thankss for the video! Can u break down what it means to have a Return on Investment of 7.5%? In words, what does that mean? Is it "every year you will recuperate 7.5% of your purchasing price?
Thanks for watching!! Yes my 7.5% return calculation is essentially my net profit (rental income - expenses and taxes) / initial investment inc. purchase costs. Hope this helps!
Which one would you choose? Leave a comment and let me know!
Fantastic video, very good info. Cheers
Thanks for watching! Glad it was helpful 😁
I would choose a parking space because like you said, there is a constant demand. Appreciate the analysis.
@@jackiephillips7291 thanks for watching Jackie!!
Interesting analysis
Thanks for watching Chinedu!
Interesting question to explore and really helpful info, thanks. I like the ease of parking spaces. For me, I'd tack it onto my rental property search and consider renting the piso, the storage unit, and parking space all separately to boost returns.
@@flippingspain thanks Mick! That’s a very interesting approach, it is possible but the taxation on the income / VAT applicable can actually change based on whether they are being rented in conjunction with someone’s habitual residence or separately (I believe it’s more beneficial with the habitual residence as I think there are more deductions)
Hi, thank you so much for giving us the benefit of your experience! I am planning on moving to Spain to retire, and I will be living with a relative as it's an easy option rather than buying myself a property with finance received from the sale of my house in the UK. Intially I've been looking at Holiday let apartments, or rural houses, short lets, and I recently started to think about commercial premises and parking spaces. I never thought of storage units to be honest, but after watching your video it has become an interesting alternative in my mind. Regards one of the cons you mentioned on parking spaces, the possibility of someone just parking in your space and causing a headache, would you say that this problem is less likely in a higher class parking complexes? Or is this risk just as high anywhere you buy a parking space? Best Regards.
Thanks for watching and glad you found the video interesting! As I don't have any first hand experience it's difficult to say, because as much as in a normal parking space you could end up with somebody parking in your spot, the same could happen in a more "high-end" parking lot, or worse you end up with a big SUV parked across two spots, one of which is yours (I did see this first hand, and in Dubai of all places! 😂). Hope this somewhat helps!
Thankss for the video! Can u break down what it means to have a Return on Investment of 7.5%? In words, what does that mean? Is it "every year you will recuperate 7.5% of your purchasing price?
Thanks for watching!! Yes my 7.5% return calculation is essentially my net profit (rental income - expenses and taxes) / initial investment inc. purchase costs. Hope this helps!
Something else ocurred to me and this is lock up garages in underground complexes or below apartment buildings. Is this also an alternative?
Yes parking lots and storage units in Spain can be underground/a basement as well