You Could Buy a Condo, a Home, or a lot of things for $1M, or You Could Buy a Parking Space

Bloomberg – A Parking Space in Hong Kong Just Sold for Almost $1 Million – Shawna Kwan 10/23/19

If anyone needed further evidence of Hong Kong’s sky-high real estate prices they found it this week with news that a car parking spot sold for almost $1 million.

The space went for HK$7.6 million ($970,000), making it the most expensive place to park an automobile in the city, and perhaps anywhere in the world.

The car-parking spot is (in)…The Center in Central, which also happens to be the priciest office tower in the world. For the cost of the parking space, you could buy a one-bedroom apartment in Manhattan.

Side note, …the seller was Johnny Cheung Shun-yee, a businessman with a reputation for flipping property. He made around HK$900 million last year in about nine months by buying and selling floors in the same office building.

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