- Feb 18, 2014
UK's most expensive parking spaces sell for $666,000
As a result of its ancient beginnings and meandering streets, parking in London is very, very expensive. Take this two-car underground spot near Kensington's Royal Albert Hall, which just sold for 400,000 pounds ($665,680), as an example. It's now the most expensive parking spot in the whole of the United Kingdom, costing 2.5 times the price of an average house. It's 15 times the average salary of one of the Queen's subjects, and according to The Telegraph, for the same price someone could rent a spot in a parking garage half a mile away... for 31 years.
According to The Telegraph, the pricing of this spot isn't unusual as of late. The average price in the garage has increased 31 percent in the past ten months, moving from 275,000 pounds ($457,655).
Now, let's hear the New Yorkers complain about the horrible cost of a parking spot.