Property News · May 6, 2020

Craze for car parking spaces stalls as sentiment takes a hit amid weakening economy, coronavirus pandemic


The worst for Hong Kong’s car parking space market is yet to come as investment demand for the asset class has largely evaporated and sentiment remains uncertain after the city’s economy fell by the most on record.The total number of parking spaces that changed hands in April fell 67 per cent from a year earlier to a seven-month low of 225, with turnover recording a much larger year-on-year decline of 84.2 per cent to HK$358 million (US$46.17 million), according to Land Registry data compiled…

Source : South China Morning Post
Read more…Craze for car parking spaces stalls as sentiment takes a hit amid weakening economy, coronavirus pandemic

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