World's most expensive parking space cost $1,300,000 and this is why someone paid so much for it

The world’s most expensive parking space cost somebody $1.3 million, which just sounds ridiculous, right? Here’s why someone shelled out so much money for it.

For many people, it’s an unfathomable amount of money.

And if you do happen to have that kind of dough, you’d want it spent on something substantial like a house, right?

But for one resident, this cash was going to be put towards a parking spot.

The world’s most expensive parking space costs more than a lot of houses

This revered parking space is based in Hong Kong, and it was one of several spots going up for sale outside an ultra-luxury development.

The Mount Nicholson development sits overlooking Victoria Harbour and plays host to some of the most expensive homes in all of Asia.

As one of the most expensive places in the world to live, maybe it’s no wonder that a parking space would come at such a high price.

Measuring out at 134.5-square-foot, that is some pricey ground.

It broke the previous world record for most expensive parking space, which was $980,000.

That spot was also in Hong Kong incidentally.

We’re sensing a theme here – people with a lot of money to spend plus scarcity of parking spots equals jackpot for someone out there.

If you want these parking spots, prepare to pay a hefty price

Your average Joe will grumble at the thought of paying for parking a meter, but some people really do go above and beyond to secure themselves a spot.

There are a ton of swanky parking spaces out there, whether it’s going for $150,000 in Shanghai or $525,000 in Sydney.

And usually they seem like good value for money – if that’s possible to say about a parking spot.

But then there was this absurd spot in London which cost $66,000, making it about as twice as expensive as most cars that would slot in there.

And we mean it when we say it would slot in; this space was extremely narrow.

It just makes you appreciate how important a garage is.