The scarcity of garage and parking space is a real concern for existing Clifton residents and investors new to the area, and in the past few years some remarkable prices have been paid for parking bays and garages in the area.

Marion Taylor of Greeff Properties says sales figures show that an average of R30 150/m2 was recorded in 2006, and this increased to R100 450/m2 in 2008.

“From 2006 to 2010 seven garages or bays were sold at an average of R53 900/m2. In previous sales standalone, walled garages, as well as bays in remote accessed garage areas are classified as garages in Clifton.”

Taylor sold two garages in Victoria Road during 2008/2009, each for R2 million, an average price of R81 600/m2. One of these was a standalone garage, the other was a bay in a remote access garage of open bays.

“Our most recent listing is a 14 m2 bay in a secure, remote access garage in Whitecliffs, Victoria Road at R2 million. Whitecliffs is a sectional title apartment block with one level of parking below the flats. Each flat is allocated one or two parking bays, but often the owners of these flats don’t occupy their units, so the bays stand empty and the owners prefer to sell them,” says Taylor.