11.01.2013 - Can Dubai learn from the Hong Kong property boom?
Do you know what the hottest property ticket in Hong Kong is right now? Thatís right ó itís the humble parking space. The average price for each slot is now nearly $100,000, and a report last week claimed that one real estate boss, Jacinto Tong, had been offered $640,000 for each of his two spaces in the central Wanchai business district. Tong decided not to cash in; he says he likes parking his Mercedes S500 near his office buildingís lift, while the other space is reserved for his driver. Parking spaces have become big business; some banks are even offering mortgages on them...............................................Full Article: Source
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