The Hidden Impact of Inflation on Parking Spaces in New Buildings

It's also possible that inflation could lead to fewer parking spaces on newly built multifamily properties or each individual parking space might be smaller. This is because developers may prioritize other aspects of the building such as amenities or high-quality materials over providing ample parking. In addition, if land prices are increasing due to inflation developers may need to further maximize their use of available space by constructing more units and reducing parking spaces.