Your own slice of central park

THIS tiny piece of prime CBD real estate doesn't have a traditional garage sale price tag.

The 5.6m by 2.5m Pirie St carpark, with its hefty $47,000 tag, will smash the highest price achieved for a single strata-titled space when sold, topping the record-breaking $44,500 sale set for a similar carpark in June.

Taplin Real Estate sales manager Geoff Cooney said price was largely determined by real estate's golden rule - location, location, location.

"Accessibility is what they want, with drivers looking to get in and out of the station as quickly as possible," Mr Cooney said.

"The proximity to the ground floor, distance to the lift and stairs and whether there are any nearby columns are all important factors."

Snapping up a private park made economic sense, he said, with reserved car parks in Adelaide City Council-run UParks costing between $250 and $380 a month per space.

Adelaide's "steady" market was also producing reasonable capital gains for buyers.

"There's been a noticeable increase in the sale price over the past three years, with similar spaces selling in the mid to high 20s a few years ago."

However, major carparking shortages in Sydney and Melbourne meant its top end prices dwarfed those achieved in Adelaide.

Australia's largest independent parking portal, Findacarpark, this week featured a Sydney CBD listing of $190,000, while buyers could expect to pay $265,000 for a carpark with a Little Collins St address in Melbourne.

Findacarpark founder Francis Armstrong said carparks offered investors good value for money.

"The commercial carparks in Sydney and Melbourne are charging so much for carparking that it's often much cheaper in the longer term to buy a space," Mr Armstrong said.

"And a smart investor will look at the commercial carpark charges of $50 to $80 per day and buy one and rent it out.

"The entry point is low, at between $30,000 to $50,000.

"How many properties can you afford for that price?"

Adelaide has 41,000 carparks, Melbourne 35,000, Sydney 30,000 and Perth less than 10,000, he said.

According to Lord Mayor Stephen Yarwood, Adelaide is one of the top five cities in the world based on carparks per capita.