Hong Kong Car Owners Get Squeezed With $765,000 Parking Spaces

‘I could buy five cars for that much,’ limousine owner says
Number of autos rising much faster than parking-spot growth

Parking spaces are so expensive in Hong Kong, one car owner would rather park his cars in California.(Source: Bloomberg)

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By Frederik Balfour

July 5, 2018 at 11:00 PM UTC

Spare a thought for Hong Kong’s beleaguered car owners.

The market for parking spaces is hotter than ever as a single spot in a luxury development in Kowloon’s Ho Man Tin district changed hands for a record HK$6 million ($765,000).