Garage Profitability Drops 1.2 Points In The Second Quarter
The profitability of garages in the second quarter stood at 8.7% , which represents a decrease of 1.2 points compared to the same period last year. This is evident in the latest study by the real estate portal Fotocasa, which indicates that – despite the adjustment – it is the fifth highest profitability in the last six years.
“In the second quarter of the year we see that there is a slight decrease compared to 2020 although it is still a very high profitability, specifically, to the fifth highest in the last six years . This slight decrease is explained by the lower growth of the price of the rental of the garages that we have been assisting for some time “, explained the director of Studies and spokesperson for Fotocasa, María Matos.
If the study is analyzed by communities, four have a profitability equal to or above the Spanish average: Región de Murcia (11.5%), Comunitat Valenciana (9.7%), Andalucía (9.3%) and Navarra ( 8.7% ).
Below the average profitability are the communities of the Canary Islands (8.6%), the Balearic Islands (8.6%), Catalonia (8.3%), Madrid (7.8%), Castilla-La Mancha (7, 7%), Cantabria (7.5%), Aragon (7.1%), Galicia (6.7%), Extremadura (6.6%), Castilla y León (6.6%), Asturias (6, 3%) and the Basque Country (6.1%).
36% of the 36 provinces analyzed have a profitability higher than the Spanish average (8.7%) . The most profitable provinces in 2021, and which are above the average are: Seville (12.1%), Murcia (11.6%), Almería (11.4%), Huelva (11%), Toledo (9 , 8%), Alicante (9.4%), Valencia (9.3%), Tarragona (9.1%), Castellón (9.1%), Santa Cruz de Tenerife (8.9%) and Las Palmas (8.9%).
The rest of the provinces that are below the profitability of the Spanish average and ordered from lowest to highest are: Gipúzcoa (5.3%), Salamanca (5.9%), Vizcaya (6.2%), Pontevedra (6.2%), Burgos (6.4%), Badajoz (6.7%), Asturias (6.7%), Granada (6.7%), Valladolid (6.8%), Córdoba ( 6.9%), Ciudad Real (7.3%), Zaragoza (7.4%), Cantabria (7.5%), Cádiz (7.6%), Girona (7.7%), Barcelona (7 , 7%), Madrid (8.0%), Lleida (8.1%), A Coruña (8.4%), Illes Balears (8.5%), Navarra (8.5%) and Malaga (8 , 6%).
Finally, the study indicates that the most profitable city in Spain in the middle of 2021 has been Murcia with a 10.8% profitability in garages . They are followed by Seville (9.5%), Palma de Mallorca (7.6%), Valencia capital (7.5%), Lleida (6.8%), Zaragoza (6.6%), Hospitalet de Llobregat ( 6.6%), Sabadell (6.4%), A Coruña capital (6.2%), Málaga capital (6.2%), Tarragona capital (6.1%), Madrid (5.9%), Girona (5.9%), Barcelona (5.9%), Alicante (5.7%), Valladolid (5.6%), Córdoba (5.5%), Esplugues de Llobregat (5.4%), San Sebastián (4.8%), Badajoz (4.8%), Vigo (4.3%) and Granada (4.0%).
