Buying a Parking Space or Garage in Galicia: Prices, Rules and Returns

Garage parking prices in Galicia by city

The garage parking market in Galicia shows a wide variety of prices depending on the city, neighbourhood and parking characteristics. Unlike housing, where prices are expressed per square metre, parking spaces are quoted per unit and their value depends primarily on location, ease of access and facility security. In Galician cities, prices are notably lower than in Madrid or Barcelona, making Galicia an attractive option for investors seeking returns with low risk.

Fact: Parking spaces in Santiago de Compostela's old town reach 35,000 € due to limited supply and traffic restrictions under the Sustainable Urban Mobility Plan.

Types of parking spaces and their features

Not all parking spaces are the same. Understanding the differences will help you choose the one that best suits your needs, whether for personal use or investment. The most common types in Galicia are:

• Community garage space: The most common in residential buildings. Part of the building's common elements, acquired as an independent element annexed to the property or separately. Average community fee: 20-40 €/month
• Private public parking space: Independent garages managed by companies like Indigo, Saba or Aparcamientos Galicia. You buy the space in a horizontal property regime. Better security and maintenance, but higher fees: 40-80 €/month
• Independent garage: A premises or building used as a garage with its own entrance. Common in rural and semi-urban areas of Galicia. Land included in the purchase. No community fee. Price: 15,000-40,000 €
• Open-air parking space: A demarcated area in uncovered car parks. Cheaper (5,000-10,000 €) but no weather protection. Less popular in rainy Galicia
• Double or tandem space: Two consecutive spaces bought as a unit. Ideal for families with two vehicles or for renting separately. 20-30% discount compared to two individual spaces

Legal requirements for the purchase

The sale and purchase of a parking space in Galicia is subject to the same general property sale regulations, with some particularities you should know. The transaction must be formalised in a public deed before a notary if the price exceeds 1,500 €, though it is always recommended to do so to register the property in the Land Registry.

Required documents for the purchase:

• Nota simple from the Land Registry: Verifies the space is registered in the seller's name and has no charges or embargoes
• Seller's title deed: The purchase deed or new-build declaration with which the seller acquired the space
• Community of owners certificate of good standing: Essential to avoid assuming previous debts. If the seller owes fees, the community can claim the current and previous year's fees from you
• Current IBI receipt: The Property Tax must be paid. Check the cadastral reference
• Energy performance certificate: Mandatory even for parking spaces since 2020, though with less demanding requirements than for homes
• First occupancy licence: Only for independent garages, not necessary for spaces in residential buildings

Warning: Never buy a parking space without verifying its registry registration. Unregistered spaces cause problems for subsequent sales and for establishing mortgage guarantees.

Taxes and purchase costs

The taxes applicable to the purchase of parking spaces in Galicia depend on whether you buy it together with a home or separately. Galician tax regulations establish specific tax rates that are worth knowing to budget the operation correctly.

Rental yields for parking spaces

Renting out a parking space in Galicia can generate a net annual return between 4.5% and 8.5%, depending on location and space type. This yield exceeds bank deposit rates and is comparable to residential rental, with the advantage that garages need no renovations, don't depreciate significantly and tenants cause minimal damage.

Estimated yields by city based on 2024-2025 data:

• A Coruña: 6.5-8.0% gross, 4.5-6.0% net (after community fees and IBI)
• Santiago de Compostela: 5.5-7.5% gross, 4.0-5.5% net
• Vigo: 6.0-8.5% gross, 4.5-6.5% net
• Pontevedra: 5.0-7.0% gross, 3.5-5.5% net
• Lugo: 5.5-7.0% gross, 4.0-5.5% net
• Ourense: 5.0-6.5% gross, 3.5-5.0% net

Strategy: Buying 2-3 parking spaces in central areas of A Coruña or Vigo generates more yield with less management than a rental apartment, with a total investment of 40,000-60,000 €.

Urban planning regulations and restrictions

In Galicia, urban planning regulations regarding parking spaces vary by municipality. General Municipal Urban Development Plans (PGOM) establish conditions of use, minimum dimensions and accessibility. It's important to know the restrictions before buying, especially in historic centres and areas with sustainable mobility plans.

Minimum dimensions according to the Technical Building Code and regional regulations:

• Standard space: 2.50 x 5.00 m (12.5 m²)
• Space adapted for people with reduced mobility: 3.30 x 5.00 m (16.5 m²)
• Inline space (front access): 2.20 x 4.50 m (9.9 m²)
• Angled space (60°): 2.50 x 5.50 m with manoeuvring area

Tips for foreign investors

If you are a foreigner looking to invest in parking spaces in Galicia, these are the key aspects you should consider to maximise your investment and avoid legal problems. Parking investment is one of the simplest ways to enter the Spanish property market with limited capital.

• Open a Spanish bank account before making the purchase. You will need a NIE (Foreigner Identity Number) which you can process at the police station in A Coruña, Vigo or Santiago
• Look for spaces in areas with parking restrictions: historic centres, pedestrian zones, ORA-controlled neighbourhoods. Demand will always exceed supply
• Check the community of owners' bylaws: some buildings prohibit renting spaces to people outside the building
• Calculate the real return by subtracting IBI (80-200 €/year), community fees (240-960 €/year) and insurance (50-100 €/year)
• Consider hiring a property administrator to manage the rental if you don't live in Galicia. Average fee: 30-50 €/month per space

Investing in parking spaces in Galicia offers a very favourable risk-return ratio, especially compared to other Spanish markets. With entry prices from 6,000 € in rural areas and yields of up to 8.5% in cities, it's a solid option for diversifying your property portfolio.