It is no secret that real estate in Hong Kong is for the deepest of pockets out there and this has been confirmed after a parking spot in the city was recently bought for an astonishing $970,000 (approx. R14 million).
This final price makes it the most expensive parking in the world which is not all that surprising considering it is located in the most expensive office tower in the world – The Center in Central.
“A lot of those owners in The Center are in finance or in other high-growth businesses,” said Stanley Poon, a managing director at Centaline Commercial. “To these tycoons, it’s not a significant purchase if you compare it to the value of the office floors they own.”
This highlights the gap in Hong Kong between the ultra-rich and ordinary people. That income inequality has fueled violent protests that have rocked the city for months now and show no sign of stopping.