Long-term car rental prices have increased significantly over the past two years, making it a more attractive option for regular international visitors to purchase a new vehicle. Some rental companies’ rates have quadrupled over this time period, while new car prices have remained relatively stable. This is largely due to the acute shortage of rental vehicles, and prices are expected to continue rising.
ParkUpp, a provider of monthly parking solutions, is now offering affordable long-term parking for foreigners who are considering purchasing a new vehicle for their regular visits to South Africa. The company has secured parking in convenient locations across the country, offering a solution for those who want to own a car but don’t want the hassle of storing it when they are not using it.
“We want to reach out to foreigners who visit regularly or own holiday homes in South Africa and are now buying cars because rental is becoming expensive,”
says Umar Obaray of ParkUpp.
“We want to offer them long-term parking for when they are back home.”
“Motor dealers in and around Cape Town will tell you about the growing number of foreign car buyers,”
“If you spend a lot of time here, local car ownership is starting to make financial sense. But what do you do with your car when it’s time to go home at the end of the summer vacation?”
ParkUpp offers a secure basement bay at Cape Quarter, with bookings available through the company’s website. Foreign visitors can also speak to the company’s business managers about a “Swallow Valet Service,” which offers services such as starting the car every month, arranging for maintenance, and providing keys on the owner’s return.
“We will accommodate any other reasonable requests you may have,”
“All to make the ownership of your South African car in the Cape as easy and hassle-free as possible.”
ParkUpp is a South African start-up founded in 2016, with a growing presence in the parking marketplace. ParkUpp has been acquired by real estate investment company Docklands Ventures, owned by ex-JLL Chairman for Sub-saharan Africa, Mark Bradford. ParkUpp is a marketplace that connects owners of parking spaces with companies and individuals who need parking. The website focuses on daily to monthly parking, providing a seamless booking and payment system. The startup’s solution is used by listed property funds across the country including shopping centers, private parking facilities, and co-working spaces.