Niche Real Estate: Parking Spaces

Ncparking Spaces 2005

LA Times:

The hottest properties in [Hong Kong] have no walls, windows or even front doors. Forget condos, apartments and homes.

Real estate investors are scrambling for parking spaces.

Single slots are now selling for more than some modest Southern California homes. Witness the $288,000 paid in November for a parking place in a luxury apartment complex on Hong Kong Island. Or the $166,000 tab for a spot in a suburban development called Festival City. A space attached to an exclusive cliffside townhouse community in the ocean view neighborhood of Repulse Bay fetched $385,000 in March.

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