Single 150 sq foot Hong Kong parking space sells for $760,000
Tehran (KNA) - Next time you're griping about having to feed coins into a parking meter, spare a thought for drivers in Hong Kong, where a single parking space has just sold for $760,000.
The 16.4 by 8.2 feet (5 by 2.5 meter) spot, attached to a fancy downtown apartment block, sold Tuesday for the local record-breaking price of HK$6 million, according to the South China Morning Post.
At roughly $5,360 per square foot, that puts it well above the average price of $1,700 per square foot for apartments in the city, as measured by property website Squarefoot.
The parking space is attached to the Ultima apartment complex in the city's Ho Man Tin area, in central Kowloon, the most densely populated part of Hong Kong.
A 900 square foot flat in the complex sold for upwards of $3.2 million when it was first made available in 2017, according to developer Sun Hung Kai.
The $760,000 price exceeds the previous most expensive parking space in Hong Kong. In 2017, $664,260 was paid for a spot in Sai Ying Pun, on Hong Kong Island.
It doesn't quite top the ticket price for most expensive parking space in the world, with spots in Manhattan offered for $1 million -- but those were far larger, at around 300 square feet apiece, compared to under 150 square feet for the Hong Kong space.
Source: CNN