“I know very few people who would want to buy an apartment in a multi-family building that doesn’t have parking,” says Monika Hjálmtýsdóttir, real estate agent and chair of the Association of Real Estate Agents.
Hjálmtýsdóttir is a guest on Dagmál yesterday, where she discusses, among other things, the restrictions faced by developers. Parking spaces at newer apartment buildings have become a luxury item, often bought and sold for millions.
0.3 parking spaces per apartment in Keldnaholt
Have you ever had a client who was happy there was no parking space available?
“No, I have to admit I haven’t. Developers have no say in this — these are just regulations dictating how many parking spaces are allowed. Previously, you had to have at least 1.6 parking spaces per apartment. Now it’s the opposite: you’re allowed at most 0.3 spaces per apartment, for example in Keldnaholt,” Hjálmtýsdóttir explains.
She says the Association of Real Estate Agents is often consulted by the government when legal changes are being considered, but in this case — the reduction in required parking spaces — the association was never approached for input.
“This is, of course, a beautiful idea — it would be wonderful if it could work in practice — but we’re just nowhere near that. Not yet, at least. Take Keldnaholt, for example. I think it’s a really exciting new residential area, a lovely location on a south-facing slope, and I could easily see myself living there someday. But if I’m moving into housing with no parking space outside, I’d back out right away,” she says.
Doesn’t work for families with children
Hjálmtýsdóttir adds that she can’t picture young families with children in car seats and grocery bags managing to get home without a nearby parking spot.
“I just don’t see how it works — if you have an entire neighborhood with almost no parking.”
But that’s how it’s supposed to be, isn’t it?
“Yes, as I understand it. There will be roughly 0.3 spaces per apartment.”
When asked whether two similar apartments — one with parking and one without — sell differently, Hjálmtýsdóttir is clear:
“Absolutely. The one with parking sells much more easily. Whether there’s a space in an underground garage or outside makes a big difference. As long as you can park nearby, it’s fine — but once you’re looking at a property with no designated or reliable parking, it has a major impact on demand.”
Source: Mbl.is
