How much do you think your car park space is worth? How much do you think it costs to build? Car park space has been deemed an essential facility for any type of building or development in Malaysia.
According to property developer MKH Bhd, a car park facility can contribute to the price of the property, and could be one of the many factors hindering homeownership in the country.
Besides the usual supply and demand, as well as the developer’s profit margin, house prices are determined by the cost of construction, including the construction of the parking spaces in a development. Hence, the cost of the car park space will have an impact on the final pricing or the affordability of a property.
But how much does a car park space cost developers? How much does it contribute to the selling price of a property?
