Resident paid $1.3 million for a parking spot because they desperately needed somewhere to park their cars

This resident paid a whopping $1.3 million for a parking spot as they desperately needed somewhere to park their cars.

The bay, located in Hong Kong, was situated in a wealthy and affluent area with luxury apartments that also cost a small fortune.

After securing the spot, it set the resident back millions of dollars, but besides breaking the owner’s wallet, records were broken too.

However, it’s not the strangest parking method that has captured the car world’s attention as of late.

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This parking spot costs a resident a whopping sum of $1.3 million

Parking can be a difficult task, especially in a popular and busy area.

From restricted areas to costly bays, finding somewhere to safely store a car can be difficult, as one resident in Hong Kong found out firsthand.

The resident who lived in the Mount Nicholson area of Hong Kong desperately needed somewhere to put their car.

Unfortunately, this came with a hefty expense.

Reportedly, the car parking space measured 13.4.5 square feet and cost around a whopping $74,350 for each square foot.

The car parking space went for a total of $1.3 million, making it more expensive than many flats or houses and reinforcing the idea that the area is one of Asia’s most expensive addresses.

But, not only did it break the bank, it also broke records.

In fact, the $1.3 million price tag reportedly broke the previous record for a single parking space, which surpassed $980,000 just six years ago.

It’s no shock, though, as this area of Hong Kong is luxury personified, with sprawling apartments that are home to wealthy residents, which can go for millions of dollars at a time.

Strangely, this isn’t the weirdest parking effort that we’ve seen

Despite the car parking space setting back the owner $1.3 million, other parking spaces have also managed to rack up hefty sums, too.

For example, a Nissan Maxima abandoned in a shopping mall garage in 2022 produced a parking fee that exceeded the car’s value by miles.

Plus, a faulty LA hospital parking machine billed a driver nearly $8k for a short visit.

Would you pay a huge sum for a parking space? Or does the option of giving up your car sound more appealing?

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