5 of Australia's most expensive car parking spaces

Photo: Domain

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.

1. Lot 89 in the Chimes Building in Potts Point. Price: $264,000.

Source: Domain property listing.

2. 54 Pirrama Road, Pyrmont. Price: $190,00.

3. 83/106 Elizabeth Bay Road, Elizabeth Bay. Price: $158,000.

3. 29 Carabella Street, Kirribilli. Price: $120,000.

5. 2332/181 Exhibition Street, Melbourne. Price: $57,500.

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