Parking

• £ 21 million for a parking spot in London
• $620,000 USD for a carpark in Hong Kong - $4,200 USD per sq ft!
• The race to the $1 mln parking spot - WSJ
• London spot for sale at £ 350,000
• Most expensive car park sold in Kensington for £480,000
• GIC and Starwood finance NPC Car Park for £500 million

Vancouverites were recently surprised to hear about a parking spot for sale for $45,000 CDN in a Downtown condo development.

But its worthwhile pointing out that this is common practise in Asian markets like Hong Kong.  An article in the June 3, 2015 edition of SCMP's Property Post flagged the risk of low volume of trades and high price volatility.   More than 6,700 private residential parking spots were sold in the city in 2014.

• The average price for a Hong Kong Island parking spot is ~HK $1.41 million while its equivalent on the Kowloon side is ~ HKD $1.22 million.   [For currency exchange, refer please to www.xe.com ]

The following charts were provided by the author of the article on aggregate sales of between the period 1996 to 2014 inclusive: