What is the highest price parking spot?

A luxury building in Hong Kong just reported selling one of its coveted parking spots for $1.3 million, breaking the world record for most expensive parking spot. In case you are doing the math at home, that breaks down to almost $10,000 per square foot.



The highest-priced parking spot in the world is currently located in a luxury residential development in Hong Kong, specifically at the Mount Nicholson project on The Peak. In late 2021 and continuing into the 2026 high-end real estate market, a single parking space sold for a staggering $1.3 million USD. This equates to roughly $10,000 per square foot, making the asphalt more expensive than most luxury homes in other parts of the world. In the United States, Manhattan holds the record for the most expensive spots, with some private garages in the Soho or Chelsea neighborhoods selling individual deeded spaces for upwards of $1 million. These "parking investments" are driven by extreme scarcity and the requirements of ultra-wealthy residents who view a secure, private garage as an essential amenity for their high-value vehicle collections. Beyond purchase prices, daily rates in cities like London and Chicago can reach $100 per day, but these million-dollar individual transactions remain the global benchmark for the astronomical cost of urban real estate.

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Angled parking spaces don't require vehicles to make a sharp turn when parking, making it easier for cars to maneuver in and out of the parking space. This also reduces the chances of a collision as drivers stay within the lines of their parking spaces.

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Technically, most states prohibit people standing in the parking spot because this behavior is a concern to block traffic. Altogether, it is not a crime to be a parking space protector, but they can be sued and paid for a fine by blocking traffic as it is considered AS TRaffic VIolation to stop a moving vehicle.

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