Parking space sold for a $1.3m record in Hong Kong

Hong Kong is one of the world's most populated urban areas, so car drivers have a hard time finding a parking lot.

Recently, a parking space in the Mount Nicholson area, where some of the most valuable real estate in Asia is located, was sold for a record $10 million of Hong Kong ($1.3 million).

Parking space is located in a residential building overlooking Hong Kong port in Victoria and is one of 29 sold within the tender offered to the owners of housing units last month, writes the South China Morning Post.

This is a new record for Hong Kong, the most expensive parking lot ever sold was in 2019 at an office building that cost $90,000 U.S.