Hong Kong Parking Spot Sets World Record Sale Price

A parking space in Hong Kong has set a world record, selling for $664,200, the South China Morning Post reports. The 188-square-foot spot is on the first floor of a luxury apartment complex near the harborfront and was purchased by an executive director of an investment firm, AFP reports. Property prices are insanely high in Hong Kong, where last month someone paid $3 billion for a commercial lot in a business and shopping district and small businesses are closing over high rent costs. (More Hong Kong stories.)