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Someone just paid $ 1.3 million for a parking space

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Imagine paying more for a parking space than most people pay for their houses.

Zhengshun Tang / Getty Images

If you live in a major metropolitan city and have a car, you probably understand the pain of constantly paying for parking. Whether you pay to park at the grocery store or pay to park in your own apartment building, it’s a bummer. Now, according to a report Posted Monday by Motor Authority, you can be thankful that your parking space costs no more than a million dollars.

Yes, I said millions, which is what someone in Hong Kong paid for a parking space in a luxury apartment building on Mount Nicholson in Hong Kong. Specifically, the unidentified buyer paid $ 1.3 million (Hong Kong $ 10.2 million), which easily beat the previous record of $ 979,438 in 2019. The space was purchased from real estate development companies Wharf Holdings and Nan Fung Group.

That number seems huge, and it is, but Hong Kong’s real estate market has been among the most expensive in the world for years, and it currently ranks at No. 1, ahead of Munich from November 2020.

We wonder, if the parking spot was $ 1.3 million, how much was the actual residence?


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