Originally posted on Business 360:
Hong Kong (CNN) – Nestled within Hong Kong’s dense skyscraper jungle, a $640,000 property sits among some of the world’s most expensive commercial and residential spaces.
The price might sound like a steal. This Asian financial capital has the world’s priciest property, according to Savills. Since the start of 2010, average Hong Kong home prices have doubled.
But the price tag mentioned here is neither for a home nor an office.
It is for a parking space: A slab of undecorated concrete, stained by black motor oil, about 8-feet-by-16-feet in size. Price per square foot: nearly $5,000.
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