Sai Ying Pun sets world record with HK$Five.Eighteen million car parking space
A Hong Kong executive has paid HK$Five.Legitimate million (NZ$916,853m) for space to leave his vehicle, setting yet another record in the costliest major urban centre on earth to become the proprietor of the world’s most expensive car parking spot.
Kwan Wai-ming, the executive director of Huarong Investment Stock Corp, paid the record price for his third parking spot at the Upton apartment complicated in western Hong Kong’s Sai Ying Pun. He had already spent a total of HK$88.55m since two thousand fourteen for two apartment units, and three parking spaces at the 48-storey complicated.
Lot No fourteen on the very first floor of the tower measures one hundred eighty eight square feet (17.Five square metres), about forty per cent thicker than the typical space, according to the data and records by the Land Registry.
The price paid by Kwan, 58, surpassed the HK$Four.8m record set last October at fifty five Conduit Road at the Mid-Levels, the then world record holder for the costliest car park. Kwan could not be reached to comment.
Kwan paid a total of HK$75.6m in two thousand fourteen and two thousand sixteen for two apartment units at Upton, according to records. In January last year, he bought two car parking spaces at the elaborate, developed by Emperor International Holdings, for HK$Trio.78m and HK$Trio.98m.
The amount paid for Kwan’s third parking space is enough to buy a 200-sq ft apartment unit at the One Prestige apartment sophisticated in North Point, or a three-bedroom vapid at Kingswood Villas in Tin Shui Wai, according to agents’ listings.
Hong Kong’s property prices have topped the world by square footage, making the city the most expensive urban centre to live and work in. Soaring prices of offices, apartment units and villas have also lifted the cost of car parking spaces, making their ownership the latest status symbols for some, and investment opportunities for others.
“There’s a public car park across from Upton, which charges a monthly rent of HK$Three,000,” said Ricky Tang, senior director of Ricacorp Properties’ West Mid-Levels. However, anybody willing to spend “more than HK$50 million for an apartment will not want to leave their vehicles in the public car parks”, he said.
Nearby Upton at The Belcher’s, developed by Sun Dangled Kai Properties, parking spaces are being suggested for inbetween HK$3m to HK$4m each, agents said.
“It’s hard to say whether these purchases are worth the money, as buyers see them as necessities, and they can afford them,” Tang said.
Sai Ying Pun sets world record with HK$ million car parking space – NZ Herald
Sai Ying Pun sets world record with HK$Five.Eighteen million car parking space
A Hong Kong executive has paid HK$Five.Eighteen million (NZ$916,853m) for space to leave his vehicle, setting yet another record in the costliest major urban centre on earth to become the possessor of the world’s most expensive car parking spot.
Kwan Wai-ming, the executive director of Huarong Investment Stock Corp, paid the record price for his third parking spot at the Upton apartment elaborate in western Hong Kong’s Sai Ying Pun. He had already spent a total of HK$88.55m since two thousand fourteen for two apartment units, and three parking spaces at the 48-storey complicated.
Lot No fourteen on the very first floor of the tower measures one hundred eighty eight square feet (17.Five square metres), about forty per cent fatter than the typical space, according to the data and records by the Land Registry.
The price paid by Kwan, 58, surpassed the HK$Four.8m record set last October at fifty five Conduit Road at the Mid-Levels, the then world record holder for the costliest car park. Kwan could not be reached to comment.
Kwan paid a total of HK$75.6m in two thousand fourteen and two thousand sixteen for two apartment units at Upton, according to records. In January last year, he bought two car parking spaces at the elaborate, developed by Emperor International Holdings, for HK$Three.78m and HK$Three.98m.
The amount paid for Kwan’s third parking space is enough to buy a 200-sq ft apartment unit at the One Prestige apartment elaborate in North Point, or a three-bedroom plane at Kingswood Villas in Tin Shui Wai, according to agents’ listings.
Hong Kong’s property prices have topped the world by square footage, making the city the most expensive urban centre to live and work in. Soaring prices of offices, apartment units and villas have also lifted the cost of car parking spaces, making their ownership the latest status symbols for some, and investment opportunities for others.
“There’s a public car park across from Upton, which charges a monthly rent of HK$Trio,000,” said Ricky Tang, senior director of Ricacorp Properties’ West Mid-Levels. However, anybody willing to spend “more than HK$50 million for an apartment will not want to leave their vehicles in the public car parks”, he said.
Nearby Upton at The Belcher’s, developed by Sun Suspended Kai Properties, parking spaces are being suggested for inbetween HK$3m to HK$4m each, agents said.
“It’s hard to say whether these purchases are worth the money, as buyers see them as necessities, and they can afford them,” Tang said.