In Hong Kong, a parking space is said to have sold for a record-breaking $1.3 million (HK$10.2 million; £930,000).
According to local media, it was one of several units sold at an ultra-luxury building in the city’s upscale The Peak residential district. Some of Asia’s most valuable mansions may be found in the Mount Nicholson complex, which overlooks the city’s Victoria Harbour. Due to the fact that Hong Kong is so densely populated, any available space, whether for housing or parking a car, can command a high price. The global financial centre frequently ranks first on lists of the world’s most expensive cities to live in.
The country’s luxury housing market has experienced record-breaking sales in recent months as purchasers’ trust has returned as the pandemic has eased. In May, a property on the Peak rented for a record $210,000 per month. The previous record price for a parking space was also set in Hong Kong, when a spot fetched $980,000 in 2019, according to Bloomberg.