Imagine that you have a car that costs you millions and you live in a place where every square meter costs a fortune. You don’t have a place to park your car. What do you do? Well, you go ahead and buy a parking space worth $1.7 million of course!
$1.7 Million what?
You read it right, someone indeed bought a parking lot for that price. Wharf Holding and Nan Fung Group sold this space in the luxurious Mount Nicholson residential project in Hong Kong.
Even William Lau, the director of sales at Centaline Property Agency in Hong Kong told South China Morning Post, “it is definitely the most expensive car parking spot in Hong Kong”.With that, he added that this eye-watering amount pales in comparison to the price people paid to live at Mount Nicholson.
How expensive is Mount Nicholson?
Well, according to Mr. Lau, a single buyer purchased two apartments in 2017 in the building for a combined $192 million.
So, for someone who has spent so much to live there dropping a mil or two to have some parking space does not seem that ridiculous.
As Mr. Lau puts it, “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”.
What is special about Mount Nicholson?
Well, for starters it is located on The Peak. What is The Peak? It is an exclusive hill on the western side of Hong Kong island and a renowned tourist attraction.
As for the cherry on the top, it is also home to some of the world’s most expensive properties. No wonder a parking space costs $1.7 million here!
Think this is too expensive? Maybe you will find this $38,000/month house more affordable!