A general view of the Mount Nicholson luxury housing development where a parking spot sold for a record US$1.53 million last month. Photo: AFP
Explainer |
Why does a car parking bay in Hong Kong cost more than a flat in London’s upscale Knightsbridge area?
- A car parking bay at the super-deluxe Mount Nicholson project fetched a record HK$11.9 million (US$1.53 million) last month
- With housing prices reaching unaffordable levels, investors are targeting car parking bays because of the low entry barrier and limited supply
A general view of the Mount Nicholson luxury housing development where a parking spot sold for a record US$1.53 million last month. Photo: AFP
