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Hong Kong s property market is breaking yet another record. Wharf Holdings and Nan Fung Group sold a parking space for $1.3 million (around R17.6 million) at the luxury Mount Nicholson residential project, according to a person familiar with the matter who asked not be named discussing private deals. The price beat the previous record of R13.2 million for a spot in an office tower set in 2019.
A Wharf representative said the company didn t have further information to provide on the sale. Hong Kong Economic Times reported on the sale of the parking spot earlier.
Hong Kong s luxury home market has seen record-breaking transactions as buyers confidence comes back. A house on the Peak, a luxury residential area on Hong Kong Island which overlooks the city, rented for a record R2.8 million a month in May.
Hong Kong Parking Spot Goes for $1.3 Million, Shattering World Record Amid Space Shortage
On 6/3/21 at 12:07 PM EDT
A parking spot in a luxury estate in Hong Kong sold for $1.3 million, breaking the record for the most expensive parking spot, which sold in 2019 for $1.29 million and is also in Hong Kong.
Mount Nicholson, the epitome of extravagant living in Hong Kong, is a residential development in The Peak a hill on the western half of Hong Kong Island. Developed by Wharf Holdings and the Nan Fung Group, parking spaces in the area are sold to the highest bidder, and the
South China Morning Post reported that this most recent parking space went for HK$10 million, which comes to $1.3 million in American currency.
HONG KONG • The prediction was vintage Jack Ma, as provocative as it was prescient. This is the era of the Internet, the Chinese billionaire proclaimed in October 2013, just weeks after his plan to take Alibaba Group Holding public in Hong Kong had been scuttled by regulators. It no longer belongs to Li Ka-shing.
Mr Ma s dig at the famed Hong Kong tycoon raised plenty of eyebrows at the time, but few would disagree with him now. The past few years have seen a remarkable shift in fortunes between China s tech-savvy moguls and their old-school Hong Kong counterparts - a trend that shows few signs of fading any time soon.
Old-School Tycoons of Hong Kong Are Losing to China s Moguls yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.