The whole world is aware of real estate prices in Hong Kong, which has become a colony of China. Today, the city’s ultra-luxury development company has sold the world’s most expensive parking space. The price of this parking space is so high that you can even buy a private private jet. Since then, the rise in real estate prices has again caught the attention of people around the world.
Parking lot worth Rs 9 and a half crore
According to the South China Morning Post, this parking space was sold to Mount Nicholson Development in the upscale Peak district of Hong Kong. This 134.5 square foot parking space cost approximately $ 74,350 per square foot. The total cost of this plot would be $ 1.3 million (Rs 95,091,165).
This amount is nothing compared to the cost of houses.
William Lau, branch sales manager of Centline Property Agency, which operates in The Peak area, said the price of a parking space here is nothing compared to the price of an apartment. He said the biggest concern of the people who live here is that they need a place to park their cars, not money. He bought it for his own use and not as an investment.
Houses worth billions of rupees are sold in Hong Kong
The development would have acquired its identity when in 2017, the same buyer bought two apartments for more than Rs 10 billion. This deal was considered the biggest real estate contract in the world. According to Insider, the sale broke the previous record for the most expensive parking in the world. The previous record dated from 2019.
Hong Kong is one of the most expensive cities in the world
It is said that this parking lot is built in the basement of a 73-story building in Hong Kong. It is known as the Center. According to Bloomberg, the annual rent for a house in The Peak in May was over Rs 18 crore. According to the Economist Intelligence Unit’s 2020 Global Cost of Living (WCOL) survey, Hong Kong is among the most expensive cities in the world, along with Paris, France, and Zurich, Switzerland.