Partial ownership (Teileigentum) refers to sole ownership of rooms not used for residential purposes, such as parking spaces, cellar compartments with their own land register sheet, or commercially used units within a condominium owners' association (WEG).
For parking spaces, there are often separate, significantly lower comparison prices than for residential space, while commercial partial ownership units are usually valued using the income approach.
It should also be noted that resolutions of the owners' association, for example regarding usage restrictions, can additionally affect the value of individual units of partial ownership.
For parking spaces, additional factors such as accessibility, parking space size, and the location within the underground garage or outdoor area also affect the achievable value.
Commercial partial ownership units also benefit or suffer greatly from the general attractiveness and footfall of the location within the overall complex.
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