As housing prices soar here in Australia, so to do they in Hong Kong. They've skyrocketed so much that a parking spot has just sold for HK$5.18 million ($880,000 AUD).
The parking space, in western Hong Kong Island, has broken multiple local residential records, with analysts claiming the parking space is the most expensive for a residential building.
Known for being one of the strongest financial hubs in the world, Hong Kong is also one of the most expensive property markets in the world, with home prices breaking pricing records six months in a row.
The space itself costs more than the average nano-apartment, which are generally less than 200 square feet and average out at $500,000.
Source: Autoblog