My daughter in Vancouver, Canada recently sent me a message about a parking space at Mount Nicholson, a luxury residential development on The Peak, when it made local headlines. The spot sold for HK$10 million (US$1.3 million), a pricier sum than a starter flat in Hong Kong.According to more than 40 parking spaces sold by the same developer, the prices reflected some of the highest ever recorded to date. How could a mere 2.5 by 5 meters parking space command such lofty price levels? The answer…
Source : South China Morning Post
Read more…Will record-setting prices of car parking spaces on The Peak drive other owners to mark up their assets?















