Hong Kong - A 188-square-foot space on Hong Kong island sold for HK$5.18 million ($664,300), or HK$27 500 a square foot, last month, newspaper Ming Pao reported Wednesday, citing land registration records.
The car park cost more than some Hong Kong homes: Centaline
Property data shows a HK$4.2 million sale of a 284-square-foot, two-bedroom
home in Sha Tin, in the
Property prices keep soaring higher in
Higher taxes on home purchases could stimulate investment demand for non-residential properties, with some buyers shifting to office and parking space, according to analysts Patrick Wong and Francis Chan of Bloomberg Intelligence.
Read also: City's R106m parking lot
The parking spot is at the residential building
An entire car-park building sold for a then-record HK$23.3 billion last month to Henderson Land Development, which snapped up the rare Central district site for a planned office tower.