When a parking space costs €645,000...
Hong Kong is the city of real estate records. A city where buying a space to park your car can be (really) expensive. Less than a year ago, a parking space was purchased in that Chinese city for €365,000. Nine months later, the couple who bought it managed to sell it for double that amount: €645,000, demonstrating the feverish state of that market.
The parking space is part of the luxury Ultima development in the Kowloon district. It is 5 meters long by 2.5 meters wide, or 12.5 square meters (m2), which means that the space is worth more than €50,000 per m2.
But this record is not unique to Hong Kong. Last spring, a multimillionaire paid €2.7 billion for a 2,880 m2 plot located in the financial and commercial heart of the Asian metropolis.
Yes, this was already the most expensive city on the planet to buy a home... and now it is also the most expensive city to park a car.
Source (idealista)