HK car space sells for $1.3m
A single car parking space has been sold for a whopping HK$10 million ($1.3 million) at a luxury Hong Kong apartment complex, local media reported yesterday. The 12.5 square-metre (135 square-foot) spot is part of a development on The Peak, a swanky area that has attracted some of the city's richest residents since colonial times. Boasting breath-taking views over Victoria Harbour, the hilltop has eye-watering property prices -- including some of the world's most expensive real estate. While Hong Kong's wealthy think nothing of dropping millions of dollars for their homes, millions of the city's residents struggle to afford the rent on shoe-box apartments -- many smaller than the parking space. A 2019 study listed the average property price in Hong Kong at $1.2 million.
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