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London Parking Space Goes On Sale For £350,000

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The parking space in Central London is the most expensive currently for sale in the UK A parking space in London has been put on the market for £350,000, making it more than one and a half times more expensive than the average UK house price.

article here.... :/


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Some people buy a piece of jewellery at a price that seems like nonsense. A diamond worth £10m....madness. But there is a difference. The price is relative to that persons wealth ie a billionaire wants a top 10 diamond then they get one.....and whilst I absolutely question it's notional value it's rarity and beauty to some give some explanation.

However, this parking space requires other factors at play.

1) it requires a bunch of people to have so much money that a few days earnings for a parking space seems a fair price.

2) it requires comparables to ensure value. So they look at the daft balloon property prices.

3) it requires a need from the catagory of people in 1 above to desire it.

And 3 is where it falls apart for me. If I could afford the space.....then I imagine the car is special too. And I wouldn't park it there.

And a millionaire who owns a normal £15k car - then surely they are also financially sensible enough to see how daft this is.

Still I expect it sells - because someone has enough money not to care and the Estate Agent tells them it's an investment.

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