Who does not need a storage room or has ever needed one? The lack of space in homes, especially in the most populated areas, has turned storage rooms into an increasingly precious and demanded asset. Storage spaces have become a necessity, especially for those who live in the center of large cities, where the square meter is more expensive.
According to the latest Report on trends in the real estate sector of the Valuation Society, the price of new and used housing has also become more expensive by 3.8% per year in the first quarter of the year. Therefore, in large cities we tend more and more to rent and buy smaller homes, which make it even more convenient to have a storage room. Storage rooms are also, in many cases, the ideal solution for small businesses that need extra space to, for example, store products in stock.
All of this has led to a veritable boom in these assets. As with the , they represent an accessible investment opportunity and, at the same time, a guarantee of profitability. For the small saver, storage rooms are an access route to real estate investment, since it requires much less initial capital than alternatives such as housing.
Unless you are looking for a storage room for your own use, the most interesting strategy is to focus on central enclaves, where there are a greater number of flats and small apartments in old buildings. Although they will be more expensive in these locations, they will also provide us with greater rental profitability. Neighborhoods with recently built properties are a less attractive option, since much of the new construction tends to incorporate garages and storage rooms.
These investments can become very profitable, since with little capital an almost immediate return can be obtained. Without forgetting the revaluation of the storage room in the medium or long term, once they are rented, and although the profitability is usually between 7.5% and 8.5%, it never falls below 5%. In , where it is possible to invest in real estate from 500 euros, we have verified a notable appetite for this type of asset, which is offered by .
Spain, third country with the most supply
The self-storage sector is going through a good moment throughout Europe. In Spain, the storage room market has been growing year after year and currently, according to data from the Spanish Self Storage Association (AESS), there are 550 storage room rental centers in our country, 93% more than in 2016. Spain remains in third position in Europe, with close to 10.5% of the total offer, only behind the United Kingdom (38.6%) and France (11.8%), according to the European Self Storage Annual Survey report 2021, prepared by the consultancy JLL and the European storage room employers’ association (Fidessa).
Prices vary greatly depending on the area and location. As a general rule, the more central, the more expensive. Likewise, the price is higher in buildings equipped with an alarm, video surveillance systems or personal access codes, access to ramps or elevators, loading and unloading areas, etc. The price of a storage room in Spain in 2021, according to the JLL and Fidessa report, was around 250 euros per square meter per year, below the European average, which reached 268.74 euros per square meter per year. . With regard to rent, the fork is wide: from 10 to 50 euros per square meter, depending on the city, neighborhood, street and surface, as pointed out by AESS.
The consultant and the employer estimated the occupancy of these spaces at around 82% in June 2021, more than five points above the previous year. The growing demand explains , among which we find large operators such as Bluespace, Homebox or Safestore. In addition to the interest of international funds, Spanish companies such as Brickbro have also appeared on the scene, which are committed to converting spaces to give them a second life.
Accustomed to considering them as repositories of what we no longer use or do not know where to put, the figures reveal another, much more interesting side of storage rooms… as stores of value.
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