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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.
Mount Nicholson, also located on the Peak, is one of the most iconic upscale projects in Hong Kong. Previously, one of the project's apartments was the most expensive in Asia before the title was taken by CK Asset Holdings' 21 Borrett Road in February.
