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Hong Kong car park space fetches over $166,600

Posted on 27 November 2012

An individual car parking space has sold for HK$1.3 million ($166,666) in Hong Kong, reports said Monday, as investors seek new ways of making money amid sky-high property prices. Buyers have turned to parking lots to make quick gains after the government imposed a series of measures last month to try to cool the Chinese city’s overheated housing market.
But the soaring price of a car park space is raising concern that money flowing into the city could further inflate the red-hot property market, the South China Morning Post reported………………………………………..Full Article: Source


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