First of all based on a search on Dictionary.com, Tandem is defined as a adjective to describe one following another.
Tandem Parking is box parking of front & back where, if both cars park, the front car have to be remove before the back car going out. There is an element of slight inconvenience but the good thing is it is not a fully priced car park.
For developers it enables them to create more density per square foot out of their projects.
Tandem Parking is box parking of front & back where, if both cars park, the front car have to be remove before the back car going out. There is an element of slight inconvenience but the good thing is it is not a fully priced car park.
For developers it enables them to create more density per square foot out of their projects.
As of today, the price of a tandem parking is around RM 12K while the price of a normal car park is around RM 30K which is roughly half price.
From an investor standpoint, I would snapup additional tandem car parks if the management allows. Even if I was given 2 tandem car parks, I would purchase additional tandem car parks. This is because of the high yield I can get from renting these tandem car parks.
Example :
The current rate of a rented car park is RM 100
(( 100x12 ) /10000 ) *100 = 12% returns per year !!!