---
title: "World’s Most Expensive Parking Spot Sells for $664,000"
description: "Apparently property really is the most valuable thing you can own."
date: "2017-06-15"
modified: "2017-06-15"
authors:
  - name: "Chris Tsui"
    job_title: "Contributor"
    link: "https://www.thedrive.com/authors/chris-tsui"
url: "https://www.thedrive.com/news/11569/worlds-most-expensive-parking-spot-sold-for-664000"
categories:
  - "News"
tags:
  - "Hong Kong"
  - "parking"
---

# World’s Most Expensive Parking Spot Sells for $664,000

![](<https://www.thedrive.com/wp-content/uploads/images-by-url-td/content/2017/06/gettyimages-157322723-e1497541840351.jpg>)
*\<em\>www.thedrive.com</em>*

Does leaving your car at the $20-per-day lot downtown make your wallet ache? Try this on for size. One Hong Kong businessman just paid the equivalent of $664,000 for a single parking spot in his apartment complex, according to *[South China Morning Post](<https://www.scmp.com/property/hong-kong-china/article/2098238/sai-ying-pun-etches-world-record-hk518-million-car-parking?utm_content=bufferf4c43&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer>).* For that money, you could leave your car at the $20 lot for *90*

 *years*.

According to [*South China Morning Post*](<https://www.scmp.com/property/hong-kong-china/article/2098238/sai-ying-pun-etches-world-record-hk518-million-car-parking?utm_content=bufferf4c43&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer>), Huarong Investment Stock Corp executive director Kwan Wai Ming paid $5.18 million HKD (or about $664,000 USD) for the privilege to park his car at his Upton apartment building in Sai Ying Pun, Hong Kong. This makes it a world record for the most expensive parking space ever sold, according to SCMP.

Before you scoff at its eye-watering six-figure (or seven-figure, in the local currency) price tag, keep in mind that lot number 14 is a whopping 188 sq. ft.—apparently 40 percent larger than your average underground, paint-bordered rectangle. Also, Hong Kong is a city that holds the dubious/prestigious distinction as the most expensive place on earth to buy property per square foot. (However, considering the attitude some Chinese have with [the number 14](<https://en.wikipedia.org/wiki/Chinese_Numerology#Unlucky_numbers>), you'd think the 58-year-old financier would've been able to land some kind of discount.)

Unsurprisingly, this isn't Kwan's first high-priced rodeo. He reportedly has already spent about $88.55 million HKD ($11.35 million USD) on two apartments and three other parking spots in the same complex. Almost a tenth of that sum was spent on the parking spots alone.

What I wanna know is, what [kind of car](<https://www.thedrive.com/new-cars/10739/13-million-rolls-royce-sweptail-could-be-most-expensive-new-car-ever-made>) Kwan keeps in his $664,000 parking space. Perhaps it's a [Lexus LFA](<https://www.thedrive.com/article/9154/used-brown-lexus-on-sale-for-645000>). If it is, it'd still be worth less than the asphalt it would be standing on.

## Author
Chris Tsui is *The Drive*'s former Reviews Editor and current freelance automotive journalist. He's based in Toronto.

### Author social links  
[Instagram](<https://www.instagram.com/cltsuii/>)