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INFRASTRUCTURES * China
* Hong Kong - Parking spaces pricey assets. Spots top $100,000 as investment craze raises bubble fear
Hong Kong,China -Associated Press/The Detroit News, by Kelvin Chan -December 5, 2012: -- Investors looking for new places to park their cash in Hong Kong are driving up prices for parking spaces, sparking fears of a bubble in the Asian financial center... Prices for parking spots in Hong Kong are nearing historic highs, the side effect of government curbs to cool the housing market amid worries of overheating following the latest round of monetary stimulus in the U.S. last month... Over the weekend, a developer sold about 500 parking spots at a new suburban apartment complex at prices of up to 1.3 million Hong Kong dollars ($167,000) per space... In a commercial building near the city's financial district on Hong Kong Island, an investor has put 34 parking spaces on sale for HK$100 million ($12.9 million), according to a report last week in the Ming Pao newspaper... A parking spot in the exclusive Repulse Bay neighborhood sold for HK$3 million, the paper also said, citing Land Registry data...
Labels: infrastructures
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