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Hong Kong car park space sells for record $664,200

Reuters  |  HONG KONG 

HONG KONG (Reuters) - A parking spot in Hong Kong was sold for HK$5.18 million ($664,200), setting a record in the city where authorities are struggling to contain soaring property prices.The financial hub is one of the most expensive property markets in the world and private home prices have been hitting record highs for six months in a row.The parking space in western Hong Kong Island was sold to Kwan Wai-ming on May 31, records at the Land Registry show.An analyst said the parking space is the most expensive for a residential building. Local media reports say Kwan is as an executive ...

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First Published: Wed, June 14 2017. 14:25 IST