One parking space in central London, was sold for close to $470,000, and the company that sold it, happily rubbing their hands as they recently sold two similar places at a total cost of $775,000. Parking space, measuring 24 square meters, is set in the ultra exclusive area, Hyde Park Gardens, and despite the price, there was the great interest in it, primarily due to the fact that a large number of properties in the area (whose prices range from $1.5 to $20million) has not its own parking lot.
Interestingly, the new buyer does not own the land, but has it leased for a period of 91 years. Given this, it will cost him about 11 euro per day for rent, which is not expensive, considering that it is a prime location in downtown. If nothing else, the descendants of the new “owners” do not have to worry about parking spot.