Buying a car park space: what to know

Why buy a car park space?

If you work in a CBD location, owning a car park space can be a way of ensuring you always have a secure parking spot available for the workday commute. It can also be a way to enjoy the convenience and security of off-street parking if your home doesn’t come with a spot..

A car park space can also be an investment in its own right. Compared to traditional real estate, a car park is typically cheaper in both initial and ongoing costs, potentially making it a more accessible investment for some.

Can a car park space be a good investment?

As with all property investments, how much you can earn as an investor will vary widely. Per Commercial Real Estate, a 13m² car park space near Sydney Airport listed for sale at $20,000, had an annual income of $1,423 before ongoing costs. Depending on your location, there’s also the chance for significant growth, although there’s no guarantee.

It’s worth stressing that this is one example. You really need to crunch the numbers for any car park space you’re thinking of buying. As with any piece of real estate, research the area to be confident it’s in a high-demand location.

How much do car park spaces sell for?

Just like homes, prices are based on demand, with size and location being some of the biggest factors. As a guide, single car spots on the fringe of the Sydney CBD can be found advertised from about $20,000-40,000, while others in the heart of the city centre may be listed for almost 10 times that amount. Making the news most recently, a car spot in the CBD sold for $600,000.

If you’re looking to purchase a car park, you can find listings on commercial property sites, private online classifieds or dedicated websites like Findacarpark.

Ongoing costs of a car park space

If you’re thinking of buying a car park space, it’s important to understand the ongoing costs you’ll be expected to pay. These can include strata levies (as you do when owning a unit) and council rates.

By way of example, a car space near Sydney Airport valued at $20,000, was advertised as having strata levies of $76 per quarter, and council rates of $173 per quarter. It’s worth noting that if you were to instead purchase a double park for $40,000, your strata levy would only increase by an additional $64 and your council fees by $23, meanwhile your total income would approximately double. It’s a good idea to find out if there are any tax implications and consider seeking advice from a suitably qualified professional.

What is the best city to buy a car park?

If you’re considering buying a car park for personal use, the ideal location will obviously depend on your personal driving habits. However, if you’re looking for an investment, you might want to put some more thought into where you buy.

Research by Ray White Commercial into the average parking rates in our capital cities gives some insight into where the demand lies. In 2025, the Brisbane CBD currently has the highest average parking rate ($80.84), while Sydney had the highest historical rate ($85.05) in 2023. If you’re thinking about buying in Melbourne you may want to exercise caution, as their 2025 average rate ($64.43) has fallen below 2013 levels; likely due to their office market struggling post-pandemic.

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