Web Desk: Getting a parking spot requires a real effort from you due to increasing number of vehicle all around the world. Circling the lanes of a parking lot sometimes makes you want to ditch the car altogether.
A man has found a new idea to cope up with the issue, but the idea is really expensive. Someone in Hongkong’s luxury development in Kowloon’s Ho Man Tin district bought a parking spot for a record HK$6 million, which roughly converts to PKR 8.8 crore.
Therefore, his move is really crazy because one prefers buying new cars than buying just a space.
(Bloomberg)A Single Parking Space in Hong Kong Has Sold for $765,000. Number of autos rising much faster than parking-spot growth…The market for parking spaces is…as a single spot in a luxury development in Kowloon’s Ho Man Tin district changed hands for a record $765,000.
— Ron Strauss (@RonStrauss1) July 7, 2018
The average parking space is sold for HK$2.25 million which makes the city’s housing market one of the most expensive in the world.