World's Most Expensive Parking Spot Sells for Unthinkable $1.3 Million

What kind of car do you drive when the parking spot alone sets you back over a million bucks?

Kristen Lee

Like I recently mentioned in my review of the 2021 Bentley Bentayga, luxury is a relative and fluid concept. And boy, this report of a single parking spot selling for a stupefying $1.3 million certainly confirms that. I can't help but think, what kind of vehicle do you drive when you can afford a million-dollar, car-sized chunk of tarmac?

Initially reported by the BBC and brought to our attention by C&D, Hong Kong is once again home to the world's most expensive parking spot, after 2019's $980,000 world record was recently beat by $320,000.

AP Images

An underground parking lot in Hong Kong.

Located in the city's ultra-affluent area of The Peak, the million-dollar parking spot is located at a real estate development called Mount Nicholson, which is home to some of the most expensive addresses in all of Asia. According to the original report, a residence in The Peak just rented out in May for a staggering $210,000 per month, which means someone's paying $2,520,000 annualy to live in someone else's property.

Back in 2015, co-founder of Alibaba Group Jack Ma paid a reported price of $1.5 billion HKD for a single property at The Peak, according to the Hong Kong Free Press. That translates to approximately $200 million USD dollars in 2021.

Of course, if you can spend that kind of money on rent or a $1.3 million parking spot, then your car game should certainly be strong. Hong Kong is home to some of the most expensive vehicles in the world, with most of the ultra-luxury brands like Rolls-Royce, Bugatti, and more having some of their top customers located within city limits.

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