---
title: "World’s Most Expensive Parking Spot Sells for Unthinkable $1.3 Million"
description: "What kind of car do you drive when the parking spot alone sets you back over a million bucks?"
date: "2021-06-07"
modified: "2021-06-07"
authors:
  - name: "Jerry Perez"
    job_title: "Deputy Editor"
    link: "https://www.thedrive.com/authors/jerry-perez"
url: "https://www.thedrive.com/news/40959/worlds-most-expensive-parking-spot-sells-for-unthinkable-1-3-million"
categories:
  - "News"
---

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

![](<https://www.thedrive.com/wp-content/uploads/images-by-url-td/content/2021/06/IMG_4525.jpg>)
*\<em\>www.thedrive.com</em>*

Like I recently mentioned in my review of the [2021 Bentley Bentayga](<https://www.thedrive.com/new-cars/40516/2021-bentley-bentayga-review-opulent-doesnt-have-to-mean-impractical>), 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*](<https://www.bbc.com/news/business-57353627>) and brought to our attention by [*C&D*](<https://www.caranddriver.com/news/a36641310/parking-space-hong-kong-price-1-3-million/>), 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.

![message-editor%2F1623085014597-ap\_891734260851.jpg](<https://www.thedrive.com/wp-content/uploads/content-b/message-editor/1623085014597-ap_891734260851.jpg>)
*An underground parking lot in Hong Kong., *AP Images**

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*](<https://hongkongfp.com/2015/08/16/exclusive-asias-most-expensive-house-jack-mas-hk1-5-billion-new-peak-home-in-pictures/>). 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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## Author
Jerry is responsible for upholding The Drive's ethos as an audience-first, enthusiast-driven car blog that serves up industry-leading news, reviews, culture, and motorsport coverage. Overseeing a staff of writers and editors from his home base in Indianapolis, he helps curate the site's daily rundown, as well as its medium- and long-term content strategies. Jerry joined The Drive in 2018 as a writer and worked as news editor and managing editor before becoming the deputy in 2023. As a lifelong car enthusiast and racing fan, Jerry believes that all cars are cool, but the people behind the machines are even cooler. This belief often gives The Drive a slightly different focus from most other car sites, where we explore the humanity behind the machines. When he's not obsessing over the day's biggest stories or hanging out at a race track, Jerry can be found behind the wheel of a car, most likely sharing a laugh with his teenage son or daughter.

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