If you’ve lived in a large metropolitan area, you’ve probably experienced the unique pain that comes with firing more and more money just to park somewhere (believe me, I watched $ 200 burn a hole in my pocket every month just to park in my own complex in Austin). But nothing compares to this $ 1.3 billion space in Hong Kong which simply broke all records to become the most expensive parking space in the world.
Now this is not completely out of character as well BBC reports. This specific location is located in a luxury high-end complex in The Peak, which is one of the most expensive areas in all of Hong Kong. We don’t even talk well about a penthouse. We say “you could buy a country with so much money” nice. And, as you can imagine, this facility is being built on a mountain (in this case Mount Nicholson) to view the port of Victoria. Mountain lodge overlooking the coast? Yes, it will be expensive.
Costs are not available for this particular residential building, but other Wheelock Properties developments can be hired for up to $ 2 million a year, Bloomberg reports. So, with this very expensive rent combined with your very expensive parking space, you would spend over $ 3 million a year just to live in a place you don’t even own.
The cost of living is already high in Hong Kong, which is so crowded that the ability to secure your own space, even if it is only a 100-square-foot apartment, can be costly. Parking spaces that do not provide anyone with a place to live, work or generate income are even more expensive because they are a luxury.
Hong Kong was the place of previous record of parking space costs. As early as 2019, one seat was supposed to cost $ 980,000. Six figures seem meager compared to the current speed.