World's most expensive parking space cost $1.3M and this is why someone paid so much for it
Published on Nov 06, 2026 at 5:32 AM (UTC-5)
by Ben Thompson
Last updated on Nov 06, 2026 at 5:32 AM (UTC-5)
Edited by
Mason Jones
Few people enjoy paying for parking, so you can only imagine what would convince someone to shell out a staggering $1.3 million for the world’s most expensive parking space.
It sounds like the kind of money only the likes of Elon Musk or Bill Gates could afford to dish out.
But there is someone out there who’s done it, and as far as we’re aware, they’re not a world famous billionaire.
So why on Earth has this person spent $1.3 million on a parking space?
Parking spots don’t come cheap these days
While your average driver would resent fishing change out of his pocket to pop into a meter, some people are willing to pay a whole lot more than that for their parking privileges.
In a world where some people are spending fortunes on superyachts and designer watches, it’s hard to believe anyone who would spend more than they had to on parking.
But it happens – whether it’s a parking spot going for $150,000 in Shanghai or $525,000 in Sydney.
And if you thought those prices sounded wild, wait until you see this absurd spot in London which cost $66,000.
Let’s just say, if you have a private garage of your own, count yourself very lucky.
Why this parking space is a $1.3 million investment
A $1.3 million parking space sounds like the epitome of a first world problem, doesn’t it?
But we’re not sure the person who shelled out the dough for it would feel that way.
This parking space is in Hong Kong, and is one several spots going up for grabs outside a luxury development.
The Mount Nicholson development sits overlooking Victoria Harbor and plays host to some of the most expensive homes in all of Asia.
So let’s just say, however expensive this parking space is, it’ll be a drop in the bucket compared to the properties nearby.
And get this – this beat out the previous world record for most expensive parking space, which also happened to be in Hong Kong.
That one was going for $980,000, which is already an eye-watering sum.
Why is Hong Kong such an expensive city?
What is it about this city that makes it such a pricey place to live – or park?
Well, for one thing, it has the world’s most expensive residential property market – city center apartments cost an average of $27,753 per square meter.
Limited land and a high density population doesn’t help matters either.
Once all of that is taken into account, it’s no wonder the city-state boasts the world’s two most expensive parking spaces.
The best of Supercar Blondie, every Sunday
The week's best car stories, straight to your inbox. Free.
Ben joined Supercar Blondie in February 2025 after being published by international organizations including LADbible, The Sun, the New York Post, and the Daily Mail. He covers supercars, rare and collectible vehicles, aviation, luxury assets, and the fascinating people behind them. His reporting has explored everything from seven-figure supercars and historic Ferrari collections to unusual aircraft adventures and extraordinary automotive discoveries from around the world. Ben has also gained first-hand insight into vehicle craftsmanship and customization, including visiting specialist workshops to see bespoke vehicles up close.
