It is official, residents of New York Metropolis, San Francisco, London, Paris and Tokyo have misplaced their proper to complain in relation to property prices: A parking area in Hong Kong simply broke a report when it bought for HK$5.18 million—that is $664,300.
The area, clocking in at 188 sq. ft, is in a parking storage adjoining to a excessive-finish residential constructing, the Upton. The identical storage can also be answerable for the earlier report for a parking-area buy.
That is removed from the going fee for a patch of asphalt. As Bloomberg stories, one can simply purchase a two-bed room condominium within the well-liked Sha Tin neighborhood of Hong Kong for lower than the price of that parking spot. And $664,300 might purchase a 5-bed room home in some elements of the USA.
An annual rating of the costliest housing markets on the planet has positioned Hong Kong as primary yearly since its debut. Probably the most reasonably priced metropolis on the earth? Racine, Wisconsin. You’ll be able to in all probability park there free of charge.