Someone just paid $1.3M for a single parking space

That number is a record, even in the sky-high world of Hong Kong real estate.

Kyle Hyatt Former news and features editor
Kyle Hyatt (he/him/his) hails originally from the Pacific Northwest, but has long called Los Angeles home. He's had a lifelong obsession with cars and motorcycles (both old and new).
Kyle Hyatt

Imagine paying more for a parking space than most people pay for their homes.

Zhengshun Tang/Getty Images

If you live in a major metropolitan city and own a car, you probably understand the pain of constantly paying for parking. Whether you're paying to park at the grocery store or paying to park in your own apartment building, it's a bummer. Now though, according to a report published Monday by Motor Authority, you can be thankful your parking space doesn't cost over a million dollars.

Yes, I said million, which is what someone in Hong Kong paid for a parking space in a luxury housing building on Hong Kong's Mount Nicholson. Specifically, the unnamed buyer paid $1.3 million (HK$10.2 million), which handily beat the previous record of $979,438 in 2019. The space was purchased from real estate development companies Wharf Holdings and Nan Fung Group.

That number looks enormous -- and it is -- but Hong Kong's real estate market has been among the world's most expensive for years, and it currently ranks at No. 1, ahead of Munich as of November 2020.

We're wondering, if the parking spot was $1.3 million, how much was the actual residence? 

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