A parking lot in London’s upscale market of Hyde Park Gardens has been put up for sale for a whopping £300,000 ($447156.05 USD), which is close to twice the average buying price for residential properties in the United Kingdom.
The posh spot measuring 11 feet x 12 feet costs more than double the aggregate price of £162,000 ($241,464.27 USD) per house sold in England and Wales last month.
Estate agents have experience in selling similar parking spaces in the area, which went upwards of £250,000 ($372630.04) each. The agents have even said that several buyers have already shown their intent in owning the six-figure lot. The trend of owning expensive parking spaces is on the rise in Hyde Park, one of London’s most coveted addresses, where realty prices can reach as high as £15 million ($22.3 million). Residents need to shell out as much as £1,299 ($1936.19) per square foot for availing the opportunity of buying a property here. Housing prices in Westminster and Hyde Park areas costs more than a Rolls-Royce, and 10 times as much as a BMW 7 series.
repost Bornrich