Prices for real estate in Hong Kong are crazy, but you won’t believe what someone was willing to pay for a parking space in the special administrative region. According to a Bloomberg report, an 11 square metre parking space in Hong Kong fetched an astonishing HKD 5.18 million (THB 22.5 million) in May. The pricey parking stall can be found at Upton, a residential building.
Believe it or not, parking spaces are all the rage in Hong Kong right now as an alternative investment to residential real estate. That’s because property prices in the autonomous territory keep increasing. Government attempts to reign in the skyrocketing prices through tax hikes have failed and the madness has now spread to parking spaces.
For the price of a parking space in Hong Kong these days, you can own a unit at some of the most luxurious condominium buildings in all of Bangkok. That’s not even an exaggeration. Here are three high-end condominium units you can find on Thailand Property for under THB 22.5 million.
Price: THB 20 million
With spectacular views of the Chao Phraya River, The River is a condominium project that is among Thailand’s finest. You will find a plethora of amenities and each unit features quality finishes such as solid timber and imported tile flooring as well as luxurious bathrooms with frameless glass shower. It’s a great buy unless you prefer to sit in a hot parking building and look at cars all day.
Price: THB 18.7 million
Think about this: a lovely 3-bedroom unit at Maestro 39 is 11-times bigger than the recently sold Hong Kong parking space and the unit comes with parking. This luxurious low-rise development is located on Phrom Phong, a popular Bangkok street with a unique, low-key vibe. Major Development, one of Thailand’s leading homebuilders, is behind the project that has a swimming pool, gardens and a fitness centre.
Price: 17.78 million
KEYNE by Sansiri is the ideal condominium for those who want to live where the action is. The bars and restaurants of Bangkok’s trendy Thonglor neighbourhood are at the doorstep of this project. The building boasts an infinity swimming pool, which is the perfect place to hangout and reflect upon on how much better buying a unit here is when compared to a parking space in Hong Kong.