Strategic Management of Parking Assets in Japan

Against the backdrop of factors such as declining birthrates and an aging population, underutilized land is increasing, particularly in urban areas. Such land is sometimes converted into rental parking lots, raising expectations for its use as a new resource in urban development. As rental parking lots play a vital role in maintaining urban functions as social infrastructure, the importance of strategic management--or "proper management"--of parking lots is growing. This is significant from both the perspective of maintaining and enhancing urban functions and from the standpoint of real estate management and operation.
Rental parking lots primarily consist of time-based parking (such as coin-operated parking) and monthly parking. While market research on time-based parking by private operators is advancing, the situation for monthly parking remains unclear. Although a significant stock is presumed to exist, there are no public statistics directly quantifying the number of spaces, leaving its actual state opaque.
Therefore, this survey first provides an overview of the market background and complex challenges surrounding monthly parking lots. As a first step toward clarifying this opaque market, it attempts to estimate the stock volume.