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 New
Territories, in April.
Property prices keep soaring higher in Hong
Kong despite the government’s efforts to tame the world’s least
affordable housing market.
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 Upton, which was also the
site of the previous record parking-space transaction, the Chinese newspaper
said.
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.