One Couple Made Millions Re-selling Their Parking Space

Samuel Reason | June 10th, 2018

A couple in Hong Kong made a decision to resell their parking space and actually, it paid off in the millions. They were able to generate about HK$2.6 million in profit by reselling their parking space just nine months after they bought it.

i.amz.mshcdn.com

The parking bay at the Sun Hung Kai Properties Ultima apartment complex actually became a new world record when it was sold for six million hong kong dollars on Monday the 4th June 2018, which is about $760,000 US dollars. That means it worked out at about HK$44,444 per square foot.

And the seller which was a Hong Kong couple only paid around three million hong kong dollars for the parking bay in September 2017 according to official Land Registry documents. The price per square foot in the luxury apartments of Ho Man Tin is much higher than your average Hong Kong residential prices and when people pay over hundreds of millions for a place to live it seems they really are not that bothered about a couple of million for a parking space.

The previous record was held in Hong Kong also, at 5 million hong kong dollars in the Sai Ying Pun area, so it seems locals are really used to paying this much money just to park their vehicle safely. And this new record makes Ultima the highest priced area in the world to park your car.

The price of the parking bay spaces is reflected in the cars driven by the residents. One local reflected, that he only ever sees Ferraris and high-end European sports cars entering the Ultima complex. As parking spaces in the area are in extremely short supply they normally get snapped up quickly. Though the prices are high, the city believes they will not jump much higher mostly because many people in Hong Kong believe a parking space is not a necessity.

Driving around Hong Kong is difficult at the best of times and it will only get worse as population and traffic continue to increase on a yearly basis.

Next Article
  • The Isolator Possibly The Strangest Helmet Ever Created

    In 1925 a rather bizarre invention appeared called the isolator, apparently a helmet that would improve focus and concentration. The wearer would become completely deaf as it engulfed their head completely and even had its own oxygen supply. When wearing the isolator concentration helmet, your vision would also be very...

    Read More
  • Giant Artificial Glaciers Growing In The Desert

    One smart engineer from a small remote village in Indian has put his engineering skills to the test and decided to counter-effect the problems being caused by global warming. A global and immense problem for one engineer to tackle, but Sonam Wangchuk is up for the fight. His solution is very simple, create artificial glaciers...

    Read More
  • The Flower That Will Kill You With A Smile

    When one hears the phrase satanic grin, you may think of the DC Comics The Joker’s laugh as he executes a deadly plan. That sardonic grin is well known across the whole world, a grin that comes hand in hand with death. The corners of your mouth go up really far on each side and...

    Read More
  • The Deadly Dynamite Tree

    There is actually a tree that exists covered in poisonous spikes which is capable of dropping exploding dynamite fruit on your head. And to make matters worse the explosions launches spikes & seeds to launch out into the air at over 150 miles per hour, sending them a good 100 feet. ...

    Read More
  • Two Chinese Woman Jump Off A Bridge To Decide True Love

    A young man was put to the test and found himself facing a very difficult situation, his current girlfriend and ex-girlfriend jumped off a bridge to find out who he would save. To say he was confused that two grown women had thrown themselves into a river would be an understatement, but that is what...

    Read More
  • The Raptor Of The Skies That Views Humans As Prey

    For most people living in the western world or any relatively urban area, being eaten by an animal sounds like a story you would only read about in Africa. It sounds like a story that would only happen in a horror tale or during a fantasy story. But not so long ago, being eaten by...

    Read More
  • The Australian Bushranger Who Was A Master Prison Escapist

    One Australian bushranger by the name of Joseph Johns had a very interesting talent: no cell or prison could hold him. In fact, he escaped from prison on so many occasions the authorities became frustrated and built him a special cell that was tailored to keep him inside. The governor even came and checked the...

    Read More
  • Romania Home To The Living And Growing Rocks

    These mysterious rocks that appear to be living entities in Romania continue to grow & grow, defying all the odds and confusing biologists around the world. They really do appear to be something that is impossible: stones that move and grow. Locals refer to them as Trovants and they have confused experts all around the...

    Read More