A parking space in Hong Kong sold for a record $664,00 in 2015. This is the world's highest price ever paid for a parking space. The previous high was achieved in 2013, when a Manhattan flat sold for $1 million.
Hong Kong is one of the world's most densely inhabited cities, with an average population density of 6,300 people per square kilometre. This means that space is limited, and parking is in high demand.The high cost of this site is related to its location.
It is conveniently located in the Central Business District, close to major office skyscrapers, hotels, and shopping malls.Despite the exorbitant price, the location was sold within two weeks of being listed. This merely goes to show how much parking there is in Hong Kong.