by Staff Writers
Hong Kong (AFP) June 14, 2017
Its property prices are famously sky-high but now a Hong Kong parking space has been sold for an eye-watering HK$5.18 million ($664,200) in what local reports said was a world record.
The space is on the first floor at a luxury apartment complex near the harbourfront in the west of Hong Kong Island, according to records from the city's Land Registry.
Measuring 188 square feet (17.5 square metres), it was bought by Kwan Wai-ming, an executive director at an investment firm, said the South China Morning Post which called the sale a world record.
It tops the HK$4.8 million paid for a parking space last October at another luxury residential complex.
The sale comes a month after a Hong Kong tycoon paid US$3 billion for a prime commercial lot in the Central business and shopping district, in another record for the city where property prices have become a political issue.
Small businesses are being forced to close due to spiralling rents and many residents cannot afford to buy or rent decent homes, despite a series of measures by the government aimed at cooling runaway prices.
Commercial and residential property prices have been fuelled by an influx of money from wealthy mainland Chinese investors and developers.
Critics also accuse the government of having cosy ties with developers, rather than prioritising the construction of more reasonable public housing.
San Francisco (AFP) June 13, 2017
Apple views autonomous driving systems as a "core technology" for the future, chief executive Tim Cook said in an interview aired Tuesday. Cook told Bloomberg television that Apple wants to move into the automotive sector because "there is a major disruption looming" from new technologies. The auto sector, Cook said, is being transformed by artificial intelligence and autonomous driving ... read more
Car Technology at SpaceMart.com
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|