Car garage worth crores: What makes this vehicle space more expensive than homes

An underground parking space for a single car in London's Knightsbridge has been put on the market for an outrageously expensive £350,000 (approximately 3.40 crore), making it the costliest parking spot anywhere in the country. For the price asked, one can buy get a posh four to five bedroom-house in several of the country's major cities.

Photo used for representational purpose.
Photo used for representational purpose.

The 20-feet long parking space at Knightsbridge does come with its own set of perks. For starters, there is enough space for a supercar and enough security cover courtesy CCTVs. It also comes with a dedicated garage porter.

According to a report in UK's Daily Mail, the space requires a deposit of £35,000 and is available on a 25-year-long mortgage period at 3.92% which means a monthly payout of around £1,650 or 1.64 lakh.

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Many online are pointing out to how the asking price is just way too much for what the space has on offer, regardless of how upmarket the locality may be. Some even point out that it would take a really, really expensive car parked here to justify someone buying it in the first place, especially when upmarket homes can be bought with a far larger garage for the same price

First Published Date: 22 Jan 2021, 16:42 PM IST
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