Forget Condos, Buy Car Park Spaces

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Posted: 21 Dec 2012 | 6:00 am

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.

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