Parking space cost: $187,500
If you're looking for a place to leave your car in central London, a prime spot will cost big money.
February 24, 2004: 1:30 PM EST

LONDON (Reuters) - A car parking space is for sale in central London for $187,500, fueling a favorite obsession of Britons: talking about property prices.

The space, in an underground car park near luxury store Harrods in Knightsbridge, is thought to be one of the most expensive in Britain.

"There is a shortage of parking spaces in the area," said Andy Summer for Harrods Estates who are handling the sale.

Prices of parking spaces and individual garages have risen steadily in recent years as motorists seek ways to avoid parking costs of up to four pounds an hour and tickets from zealous traffic wardens.

One parking bay in the same Knightsbridge underground car park is understood to have sold last July for $177,000 while another was bought by a mother for her 3-year-old son for when he can drive.

"Spaces are an investment and, for the sort of people who live in the area, £100,000 (about $187,000) is not that much," said Summer.

A recent boom in property prices has pushed the average price of a home in Britain to just over $261,000. Knightsbridge is one of the most expensive parts of London, where properties routinely sell for millions of dollars

Find this article at:
http://money.cnn.com/2004/02/24/news...reut/index.htm

 

Damn, now that is expensive.

 

a girl that i used to work with, her parents bought her a condo in Boston, and the parking spaces were selling for 75K each. I thought that was bad!

 

When you have to actually buy a spot separate from your home just to park you car, then maybe you don't need one.

 

"honey, what should we save up for first, the parking space or the new house'

 

Well dear if we buy the parking space first not only will we have a current place to park our car but we can take out an equity loan after the first year and put it down on a house, that way we'll have a first and second on the parking space and just a first on the house, yes, and if we can get a house with a garage we can rent the parking spot out for the amount of our first and second mortgage. So what cha think.

I'm being sarcastic but that may actually work..

 

You two make such a cute couple

 

eh i dunno... i prefer the free spaces myself. if i ever need to pay for a space i won't be living there.

 

lol i agree w/ you there!!

~ Stella

 

You know I think your the first female I've seen since I've been here. Why hello there.. Wow I don't feel so alone now. Its really nice to see your post Yankees Diva.

 

There are a few more, you just didn't know it from their screennames.

 

Ah ha got it.

 

lol yea ive been a part of CL for awhile just havent posted in forever b/c school. there are def a few more females on here.

~ Stella