3 ms·
Sure, but the comment above is talking about "how valuable that space in major city centres is". The opportunity cost of 1 sqm of street parking space is not 1
by degrews 6y ago
Sure, but the comment above is talking about "how valuable that space in major city centres is".
The opportunity cost of 1 sqm of street parking space is not 1 sqm of "living unit", but 1 sqm of land.
If 1 sqm of apartment is worth $7.5K/month, and average building height is 4 stories, that suggests 1 sqm of land is worth approximately 4 * 7.5 = $30K/month (minus value of the building).
- jaclaz 6y agoOww, come on, why stop at 4 storeys? 16 will be 4 times that. My note was not about "opportunity cost", it was about the (extremely high) "rent" that a parking space at 5 US$/hour represents compared to its cost. If you buy a 50-55 sqm apartment/flat/living unit in Copenhagen, you spend roughly 400,000 $, you can possibly rent it for 5%/year, i.e. around 20,000 $/year. If you can manage to extort 5 $ /hour (for 12 hours/day) for a parking space which is 1/4th of area (and is not a building) you get more or less the same.