If house values in Hong Kong have been rising for the past 18 consecutive months, then a bigger surprise would be the price of parking spaces, which have grown much faster than homes in some areas.
It all comes down to supply and demand. Similar to the shortage of supply in the housing market, the availability of comparatively fewer parking spaces in the city has resulted in sky-high prices wherever there is demand, according to brokerage firm Mizuho Securities Asia.
A study conducted by the…
Source : South China Morning Post
Read more…Want to see your money grow? Buy a car parking space in Hong Kong instead of a flat
