{"id":127593,"date":"2021-06-04T12:09:26","date_gmt":"2021-06-04T12:09:26","guid":{"rendered":"https:\/\/precoinnews.com\/?p=127593"},"modified":"2021-06-04T12:09:26","modified_gmt":"2021-06-04T12:09:26","slug":"parking-space-sells-for-1-3m-at-ultra-luxury-hong-kong-development","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/world-news\/parking-space-sells-for-1-3m-at-ultra-luxury-hong-kong-development\/","title":{"rendered":"Parking space sells for $1.3M at ultra-luxury Hong Kong development"},"content":{"rendered":"<h2>World&#8217;s most expensive parking space sells for $1.3MILLION at ultra-luxury Hong Kong development overlooking city harbour<\/h2>\n<ul>\n<li><strong>Parking space at luxury development in Hong Kong sold for $1.3million<\/strong><\/li>\n<li><strong>It was sold at the Mount Nicholson development in the Peak area of the city<\/strong><\/li>\n<li><strong>Worked out price per square foot was around $74,350 for 134.5-square foot spot\u00a0<\/strong><\/li>\n<\/ul>\n<p>A parking space at an ultra-luxury development in Hong Kong has reportedly sold for $1.3million (HK$10.2m).\u00a0<\/p>\n<p>Several spots were sold at the Mount Nicholson development in Hong Kong&#8217;s affluent The Peak area.<\/p>\n<p>The development, which was once known as &#8216;Asia&#8217;s priciest address&#8217;, overlooks Victoria Harbour.\u00a0<\/p>\n<p>It worked out that the price per square foot of the 134.5-square-foot parking spot was around $74,350, according to the South China Morning Post.\u00a0\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2021\/06\/04\/12\/43827803-9651839-image-a-14_1622806188773.jpg\" height=\"385\" width=\"634\"><\/p>\n<p>A parking space at the luxury Mount Nicholson development on the Peak in Hong Kong has reportedly sold for $1.3million (HK$10.2m) (stock image)\u00a0<\/p>\n<p>William Lau, who is a sales director at Centaline Property Agency&#8217;s branch on The Peak, told the publication that the price tag for the parking spot was negligible in comparison to the price of the flat.\u00a0<\/p>\n<p>He added: &#8216;What concerns them most is that they need space to park their cars and not the money. They have bought it for their own use and not as an investment.&#8217;\u00a0<\/p>\n<p>In 2017, the development was named the priciest address when two apartments sold to the same buyer for $149million (HK$1.16billion), the South China Morning Post reported.\u00a0<\/p>\n<p>The sale broke the previous record for the world&#8217;s most expensive car parking spot, which was set in the city in 2019 when a bay sold for more than $979,000 (HK$7.6m), according to Insider.\u00a0<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i.dailymail.co.uk\/1s\/2021\/06\/04\/12\/43827801-9651839-image-a-15_1622806205291.jpg\" height=\"413\" width=\"634\"><\/p>\n<p>It worked out that the price per square foot of the 134.5-square-foot parking spot was around $74,350 (stock image)\u00a0<\/p>\n<p>It was for a parking space in the basement of one of Hong Kong&#8217;s 73-storey skyscrapers, known as &#8216;The Center&#8217;.\u00a0<\/p>\n<p>In May, a house on the Peak was leased for $206,000 a month (HK%1.6million), which translates into about $2.5million a year for the tenant, according to Bloomberg.\u00a0\u00a0<\/p>\n<p>According to the Economist Intelligence Unit&#8217;s 2020 Worldwide Cost of Living (WCOL) Survey, Hong Kong tied with Paris, France, and Zurich, Switzerland, as the most expensive city.\u00a0\u00a0\u00a0<\/p>\n<p>It was a five-bedroom house which came with a private elevator and a 7,000-square-foot garden.\u00a0 \u00a0 \u00a0\u00a0<\/p>\n<p>Source: <a href=\"https:\/\/www.dailymail.co.uk\/news\/article-9651839\/Worlds-expensive-parking-space-sells-1-3MILLION-ultra-luxury-Hong-Kong-development.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>World&#8217;s most expensive parking space sells for<\/p>\n","protected":false},"author":3,"featured_media":127592,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23056],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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