Hong Kong is the world's most expensive real estate market, which helps explain why the world's most expensive parking spot just sold there for the equivalent of $760,000 USD. And no, despite the enormous price tag, the parking spot doesn't come with an apartment included, or anything particularly special for that matter.
The single parking space originally was bought for $430,000 USD in September 2017 and was handsomely resold for almost double that earlier this month. The lot is located on the first floor of a luxury residential development in the Kowloon district of Hong Kong, where apartments cost millions and millions. With only 370 spaces, in a complex of 527 units, this has led to a bidding war amongst its ultra-wealthy residents.
"The development is in a luxury residential area. The residents have a lot of cash and simply do not care about a few million dollars when a flat there costs about $12.7 million (HK$100 million)," Sandia Lau, a director at Centaline Property Agency, told the Post. "Their convenience is more important."
5 Comments
My parking permit costs only 2/3 of that so, yes, I'm impressed.
How Bourgeois, I let myself be driven around...what an amateurs!
I'd just love to see an old 90s civic parked there... just a giant middle finger to the neighbours. Now that is a sign of wealth. I bid and paid top dollar for this rectangle but use it only to store this relic.
It's also rather lazy to post a generic parking pic for this story, too. How about finding a photo of said expensive space?
like it is so easy to gain access to the private parking garage of a bunch of millionaires haha
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