What is the property right period for parking spaces?
2 Answers
Different types of parking spaces have varying property right periods: 1. Underground parking spaces in residential areas: Located in the underground space of the community, meeting the project approval and planning conditions, and having completed land transfer procedures, these spaces can obtain ownership certificates with a property right period of 70 years; 2. Above-ground parking spaces in residential areas: Set up in the above-ground space of the community to meet temporary vehicle parking needs, these include spaces within the community's construction plan and those added by developers outside the plan; 3. Underground civil defense parking spaces in residential areas: Located within the civil defense engineering of the community, these spaces can be used for vehicle parking, with property rights belonging to the state, not included in the public construction area, and have a usage period of 20 years, which can be extended through rental after expiration.
I've studied a lot of real estate knowledge, and the property rights term of parking spaces is actually related to the land type. In ordinary residential communities, since the land use term is 70 years, parking spaces generally also have a 70-year property right. However, if the parking space is located in a commercial or industrial land area, such as next to a shopping mall or office building, the property right may be shortened to 40 or 50 years. This is all stated on the property rights certificate, so when buying a house, be sure to check carefully and don't just listen to the salesperson's pitch. After expiration, according to the law, it can be renewed, but a renewal fee must be paid, with the specific amount depending on local government regulations. I often remind my friends to consider the long term when buying a parking space, not just the cheap price. Short-term property rights may cause trouble in future resale or investment, so make sure it's worth the price.
