Parking Space In Hong Kong Sells For A Record $1.3 million

Second-hand car prices in Spain are increasing. Image: flickr

A parking space at a luxury residential project in Hong Kong has sold for a whopping $1.3 million and has set a record for the most expensive parking space in the world.

A parking space at the high-end Mount Nicholson residential project in Hong Kong was sold by Wharf Holdings Ltd and Nan Fung Group to an unidentified buyer.

The sum beat the previous world record, also set in Hong Kong, that sold for $969,000 in October 2019.

In 2019, a report found that parking spaces in Spain are becoming smaller and more expensive.

The Organisation of Consumers and Users (OCU) investigated more than
230 car parks in 27 Spanish cities, both privately and publicly-owned,
as well as those of shopping centres, airports and stations.

It found one in every three parking spaces is now too narrow for
modern car dimensions, yet “prices have not stopped rising at a rate
that doubles that of inflation in the last decade.”

Barcelona, Madrid and Valencia topped the rankings of the most expensive
public car parks, with an average price of €1.78 for 48 minutes.
The cheapest in Salamanca cost 60 cents for the same amount of time.

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Written by

Deirdre Tynan

Deirdre Tynan is an award-winning journalist who enjoys bringing the best in news reporting to Spain’s largest English-language newspaper, Euro Weekly News. She has previously worked at The Mirror, Ireland on Sunday and for news agencies, media outlets and international organisations in America, Europe and Asia. A huge fan of British politics and newspapers, Deirdre is equally fascinated by the political scene in Madrid and Sevilla. She moved to Spain in 2018 and is based in Jaen.


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