Most expensive parking space in the world
A parking space has sold in Hong Kong in what is believed to be the most expensive sale of its kind.
According to the Australian Financial Review, the space in the luxurious Mount Nicholson residential project in Hong Kong was sold for $1.7 million by Wharf Holdings and Nan Fung Group.
William Lau, a sales director at Centaline Property Agency in Hong Kong, told South China Morning Post, “it is definitely the most expensive car parking spot in Hong Kong”.
Mr Lau said that the hefty price tag for the parking spot pales in comparison to how much residents at Mount Nicholson had paid for their high-class properties.
In 2017, a single buyer purchased two apartments for a combined price of $192 million.
"What concerns them most is that they need space to park their cars and not the money. They have bought it for their own use and not as an investment," he said.
Property in Hong Kong has long been referred to as the most expensive square metre in the world.
Mount Nicholson is located in the western side of Hong Kong's island, which is an exclusive hill known as The Peak.
This high-class area is home to some of the most expensive properties in the world.
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