We hear so much about crazy house prices in Hong Kong we’re somewhat desensitised to the madness. Crazy prices for car parking spaces still get our jaws dropping, however.
Flats in the new luxury Upton project in Sai Ying Pun are currently being snapped up for around HKD300,000 per square foot.
You might think that after paying that sort of money you’d get a parking space thrown in. Apparently not.
A sale yesterday saw at least six of the 16 car spaces and three motorcycle slots purchased, with the highest-priced lot going for just short of HKD4 million, according to Apple Daily.
That’s HKD29,000 per square foot and 10 percent higher than a super pricey parking space that was sold at The Belcher’s in Kennedy Town four months ago.
Obviously a parking space at Upton is a bargain, but there is, of course, the car park just across the way at Kwan Yick Building that charges HKD13 an hour or HKD3,000 a month. Just a thought.
According to reports, the most expensive parking space in the territory is a beauty at 39 Conduit Road in Mid-Levels.
That could still be topped, however, as one guy who bought a lot at The Belcher’s for HKD400,000 in 2002 has it up for sale at HKD5 million.
There you have it, kids. If you can’t afford a house, buy a parking space.
Oh right. You can’t afford one of those either.
