According to a media report, a parking spot in Hong Kong has sold for HK$ 7.6 million, which is around US$ 9,70,000.
The report claims it to be the most expensive parking space in Hong Kong, and perhaps in the world. The parking space is located in an office building called The Center in the Central area of Hong Kong and was sold by businessman Johnny Cheung Shun-yee. The report suggests that the cost of the parking space is the same as a 1-bedroom apartment in Manhattan.
The report also highlights the income inequality in Hong Kong. According to the report, the region’s Gini coefficient was the most for any developed economy in 2016. It is said that one in five residents live below the poverty line.
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