Forget Condos, Buy Car Park Spaces
While Asia's prolonged real estate winning streak spirals upwards, one sure sign of maturity is the drift into specialty products.
According to a Reuters news report Hong Kong property players are buying up car parking spaces at a frenzied pace.
In some facilities spaces go for upwards of USD400,000 and rental yields are robust. Fears of a bubble are now being voice out within the industry.
Hong Kong's government recently took a series of measures to cool down its red-hot residential market and now anxious investors have developed an appetite for alternative places to park their money.