Hong Kong: In Hong Kong, a parking space has been sold for more than 10 million Hong Kong dollars (around $1.3 million or Rs 9.43 crore) and it is believed to be the most expensive parking space ever sold.
Many parking spots were sold at the exclusive Mount Nicholson development on The Peak in Hong Kong. As per the South China Morning Post report, the developers Wharf (Holdings) and Nan Fung Group sold 29 parking spaces in phase two and three of the luxury project through a closed tender to homeowners last month, with one of the spots selling for over Hong Kong dollars 10 million. The price per square foot of the 134.5-square-foot parking spot was around $74,350.
A sales director at Centaline Property Agency’s branch on The Peak, William Lau, said that the price for the parking spot was negligible in comparison to the price of the flat. He said, “What concerns them most is that they need space to park their cars and not the money. They have bought it for their own use and not as an investment.”
As reported by the Insider, the previous world record for the most expensive parking spot was also set in Hong Kong in 2019 when a buyer bought a space for 7.6 million Hong Kong dollars (Rs 6.16 crore). The Mount Nicholson development was named as ‘Asia’s priciest address’ in 2017 when two apartments sold to the same buyer for a combined 1.16 billion Hong Kong dollars (Rs 1,093 crore). Earlier this year, the UK’s most expensive parking spot went on sale for £350,000 (Rs 3.62 crore). The three-meter by six-meter space is located in London’s fancy Knightsbridge area.
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