The world’s most expensive parking lot sells for $ 1.3 MILLION in an ultra-luxury building in Hong Kong overlooking the city harbor
- Parking lot in luxury development in Hong Kong sold for $ 1.3 million
- It was sold in the Mount Nicholson development in the Peak area of the city
- The calculated price per square foot was about $ 74,350 for a 134.5 square foot space
A parking lot at an ultra-luxury facility in Hong Kong was reportedly sold for $ 1.3 million (HKD 10.2 million).
Several spots have been sold on the Mount Nicholson development in Hong Kong’s affluent The Peak area.
The complex, which was once known as “the most expensive address in Asia”, overlooks Victoria Harbor.
It found that the price per square meter of the 134.5-square-foot parking lot was around $ 74,350, according to the South China Morning Post.
A parking lot at the luxury Mount Nicholson project on the Peak in Hong Kong reportedly sold for $ 1.3 million (HKD 10.2 million) (stock image)
William Lau, sales director at the Centaline Property Agency branch on The Peak, told the publication that the price of the parking space was negligible compared to the price of the apartment.
He added, “What worries them most is that they need space to park their cars, not the money. They bought it for their own use and not as an investment. ‘
In 2017, the project was named the most expensive address when two apartments were sold to the same buyer for $ 149 million (HKD 1.16 billion), the South China Morning Post reported.
The sale broke the previous record for the world’s most expensive parking lot, set in the city in 2019, when a bay sold for more than $ 979,000 (HKD 7.6 million), according to Insider.
It turned out that the price per square meter of the 134.5 square meter parking lot was around $ 74,350 (stock photo)
It was for a parking lot in the basement of one of Hong Kong’s 73-story skyscrapers, known as “The Center”.
In May, a home on Peak rented for $ 206,000 per month (HK% 1.6 million), which according to Bloomberg translates to about $ 2.5 million per year for the renter.
According to the Economist Intelligence Unit’s 2020 World Cost of Living (WCOL) survey, Hong Kong is the most expensive city with Paris (France) and Zurich (Switzerland).
It was a five bedroom house with a private elevator and 7,000 square foot yard.