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 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
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

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

Topic |   Explainer
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 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
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
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