Parking space for vehicles have becomes a significant component in economic development of land uses especially housing. Governments, corporate organisations and even individuals have invested heavily on road infrastructural development for easy movement of people and good as there are increasing numbers of vehicles in circulation since its invention. Parking space is becoming a serious issue in that when a prospective tenant or occupier who owns a car is looking for accommodation is equally looking for a place to park the car. The issue is whether there exists a consensus among scholars on parking space and real estate and its value? This paper has evaluated a considerable number of literatures on parking space and property value. The general consensus is that off-street parking space can lead to increased in property value or price after controlling for other property characteristics, including on-street parking. That is there is a relationship between building and parking area and property value. In spite of these, sweeping observations can be made: off- street parking research is lacking, the focus is only on on-street parking. Therefore, research gaps still exist and new areas remain un-investigated and calls for more research on parking space felicities as love of cars is on the increase.
Egbenta et al. (Fri,) studied this question.