Do Boston Parking Spots Appreciate in Value?
Back in 2004, the Boston Globe put together an article (see Value soars on choice Hub parking spots) about parking spots at the Beacon Hill Brimmer Street Garage that were fetching $160,000, which at the time was quite monumental. In 2008, parking spaces at the Brimmer Street Garage were selling for $250,000. From 2006 highs, both median and average prices for deeded parking spots in Boston are again on the rise. With the volatility in the financial markets, appreciation appears to be somewhat of a (bonus) afterthought notes a recent Wall Street Journal article (see When Stocks Tank..) that highlights consumers abandoning stocks and bonds and seeking refuge in unusual alternatives, including, parking spaces. And then there’s the convenience factor. Regardless of whether you have direct access garage parking in your building, or if you have to walk outside to get to a garage parking space, finding your car cozy and warm with no snow, and no snow plow drifts, on your car is a nice feelin
