A single underground parking space in the U.S is selling for $375,000, which is enough to buy 18 Toyota Corolla sedans.
For that amount, the buyer can park in a heated underground garage that is only accessible through a car elevator.
But the price of this parking spot in Boston is still dwarfed by prices of parking spaces in Hong Kong.
A parking spot recently sold for a record-breaking price of $1.3m (₦534m or £930,000) in Hong Kong.
A single parking spot is currently up for grabs in South End, Boston, Massachusetts, for the price of a six-figure luxury supercar… Yes, you heard that right.
Luxury residential real estate brokers Campion and Co. has listed an underground “single parking space” at 201 West Brookline St. for an astonishing price of $375,000.
And for that amount, the buyer can park in a tandem space in a heated underground garage that is only accessible from Warren Avenue through a car elevator.
According to the Boston Herald, the parking space is part of a luxury condo building that includes a penthouse that recently sold for $6.3 million. The listing says that the penthouse comes with two dedicated parking spots of its own in the garage.
By comparison, South End residents can obtain a street parking permit for as low as $25 a year. But drivers parking on the street are forced to circle for spaces and move their cars to avoid street cleaning.
To put the price tag for the South End parking spot into perspective, you could use that amount to buy a Rolls-Royce Dawn or about eighteen (18) Toyota Corolla sedans, which starts at about $20,025.
But the price of this parking space is still dwarfed by prices of parking spots in Hong Kong where one recently sold for a record-breaking price of $1.3m (₦534m or £930,000).
This whopping price for a parking space beats the previous record price of $980,000 (₦402 million) from 2019, also set in Hong Kong.
Unlike in many major cities across the globe, Hong Kong is so crowded. This has led to space, whether it is for living in or parking a car, selling for huge amounts of money.