One of the hardest burdens that millennials seem to be facing is the ability to buy that first house, but take a second to think about how it might be even harder to do so in Hong Kong, where the price of a parking space is probably more than a penthouse suite in Birmingham.
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The world record for a parking space purchase was recently broken by an unnamed executive director of an investment firm in the city who decided to pay $664,260 (£521,372) for the privilege. He already has two spaces in the same luxury apartment complex on the island, naturally.
To put this into some context – not that it really needs any – this makes the parking space cost about $3500 per square foot. Last year, apartments in New York City went for an average price of $1750 per square foot, and that’s one of the most overpriced real estate markets in the world.
Basically Hong Kong is the real deal and if you wanna live there, then you better have a shit tonne of money. Especially if you want to drive a car and have somewhere to park it.
For more parking spaces, check out China introducing female only parking spaces. Guess what the USP of those are?