Think S'pore parking is expensive? HK businessman pays $900K for lot

Parking fees in Singapore may be expensive, but there’s no comparison to how much this businessman from Hong Kong paid for his lot.

The amount? More than S$900K, which makes it the most expensive parking lot in the world, reports World of Buzz.

The 58-year-old executive director of Huarong Investment Stock Corp, Kwan Wai-ming, reportedly forked out HK$5.18 million for the 188 feet lot, which is about 40 percent bigger than an average lot.  

This is actually Kwan’s third lot in Upton apartment complex in western Hong Kong’s Sai Ying Pun.

According to South China Morning Post, the man also owns two apartments with an estimated value of S$13,430,372 and another two parking lots which cost S$671,518 and S$707,048 respectively.