A Hong Kong parking space just sold for a record $760,000.
The price is not the world record for the most expensive parking space, but it is the most expensive parking spot in Hong Kong, selling for HK$6 million. The parking space is 16.4 feet by 8.2 feet (or 5 meter by 2.5 meter) and it’s connected to a fancy downtown apartment block.
This adds up to roughly $5,360 per square foot, which is more than three times the average price of $1,700 per square foot for apartments in the city, according to property website Squarefoot. The parking space is connected to the Ultima apartment complex, which is in the city’s Ho Man Tin area, in central Kowloon, which is the most densely populated part of Hong Kong.
A 900-square-foot flat in the apartment complex sold for more than $3.2 million when it was first rolled out in 2017, according to developer Sun Hung Kai. The $760,000 price is higher than the previous most expensive parking space in Hong Kong back in 2017, when $664,260 was paid for a spot in Sai Ying Pun, on Hong Kong Island.
