Investors and local buyers aren’t just eyeing up Australia’s hot property market — they’re also looking to invest in car spaces.
With the lack of on-street parking and the prices of car parks set to rise, Australians are snapping up slabs of concrete spaces due to their strictly limited supply, Domain reports.
Earlier this year, a 26 square-metre car spot in the Chimes Building in Potts Point fetched $264,000 at auction in what is believed to be the most expensive car spot in Australia.
The inner-city car space was an eye-opener for market observers after bidding commenced at $120,000 but it was later revealed that the buyers were under the impression the car space could be split into two.
Just last month, another 12-square-metre plot in Sydney’s Kirribilli sold for $120,000 at auction — $70,000 over reserve.
More than 60 people gathered to bid for the nondescript car spot with the auctioneer assuring that “your car will have a fabulous view”.
Here’s a look at some of Australia’s most expensive car spaces.
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