Hong Kong parking space prices zoom to record

South China Morning Post ^ | 26 November, 2012 | Ray Chan

[aquila48]

The soaring price of a parking space in Hong Kong is raising fresh concerns that money flowing into the city could further inflate the red-hot property market.

Despite a subdued economy and a new 15 per cent stamp duty on non-resident and corporate buyers, prices paid for parking spots in Tai Wai have reached over HK$1.3 million - topping the heights reached by the market before the 1997 property bubble. Some owners of parking slots are reselling newly acquired spaces for profits of up to HK$300,000.

[aquila48]

One parking spot recently sold for roughly US$150,000.

[End Times Sentinel]

C’mon now, folks.

We're conservatives, we pay our own way.

Times are tough on a lot of us, but if you've got a job, really, $5 a month? You're going to miss that? How about turning off the lights when you leave the room? How about dropping the thermostat a degree while you're not at home? How about skipping that fancy pants coffee twice a month?

All we're asking for is $5 a month. Get out that wallet, input your Debit/Credit card #, set up a monthly and forget about it.

If this ham-n-egger can be a dollar a day guy, you can pony up $0.17 a day. Seventeen cents a day for all the time you spend on FR?

Cerainly, a bargain at twice the price, don't you agree?

You'll feel much better about your time on FR.

[SWAMPSNIPER]

I don’t reckon many people here live on any less than my income. I’m not buying that anyone here can’t afford 5 or 10 bucks a month.

[Gay State Conservative]

Having visited Hong Kong a half dozen times,but not lived there,I can't for the life of me understand why anyone would own a car there.As far as I can see,congestion-wise it's ten times worse than Manhattan and,unlike Manhattan,in order to drive beyond a 20-30 mile radius (that is,into mainland China) you need special,and very expensive,permits.