But this should come as no surprise when one considers that Clifton, where the average home sells for R23 million, is the most expensive suburb in South Africa.
Overlooking Clifton First Beach, the open parking bay numbered 93 is inconspicuous, and judging from the cars that surround it not much can be gauged about those who live at the luxury apartment block in Victoria Road.
Estate agent John McDermott, who has been instructed to sell the bay, said he was doing a favour for the owner, who moved to London in 2016.
“We sold her Clifton apartment a year ago after she moved to London and decided that she’s not coming back," he said. "She had the parking bay for many years which is not in the same building as the apartment."
'Scarce as hen's teeth'
When news broke of the price being offered for the parking bay earlier this week, some might have scoffed but McDermott says in the centre of Beijing a parking bay can cost you $10 million (R129 million).
He said potential buyers wanted access to the beach through the apartment building, via the lifts but the body corporate won’t budge on its strict rules, which means that those wanted to take a dip have to use the public stairs.
Caretaker at the building Hans Duitsman, who has worked there for the past nine years, said parking bays did not often come onto the market, “they’re as scarce as chicken teeth”.
He said many of the apartments stood empty for most of the year, with less than half the owners living there on a permanent basis.
Wesley Wild, who is in the construction industry, says the price of R990 000 for the parking bay was not unusual.
“People sell garages here for more than R1 million. When you’re paying R10-R15 million or more for a flat this is not unusual.
“The parking bay adds value to your property and the price is all relative,” said Wild.