Tuesday, 5 June 2018

Fact of the Day: A Really Pricey Spot

Ultima has some expensive flats as well as parking spots that break the bank
Hong Kong can boast having the most expensive parking spot in the world.

One was recently sold for a staggering HK$6 million (US$760,000) in Ultima, a luxury residential complex in Ho Man Tin, Kowloon. In case your calculating, that's HK$44,444 per square foot.

The couple who sold the 16.4 feet by 8.2 feet spot made them a whopping HK$2.6 million profit, reselling the space only nine months after they bought it.

The parking spot is in a building where a four bedroom, 1,911 square foot flat costs a heart-stopping HK$98 million.

"The development is in a luxury residential area. The residents have a lot of cash and simply do not care about a few million dollars when a flat there costs about HK$100 million," said Sandia Lau, a director of Centaline Property Agency. "Their convenience is more important."

No kidding!

Except the rest of us plebeians have no idea what it's like to be so uber rich that HK$6 million is chump change...

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