Cape Town is one of the cities known to have the highest prices for property in South Africa. Clifton reigns as one of the most expensive suburbs, where the average selling price for a house is R23 million, BusinessTech reports.
But a new prospect has raised eyebrows recently as a Clifton parking bay was put on the market for R990 000.
This parking bay overlooks the beautiful Clifton First Beach, a popular Cape Town attraction and is situated on the roof of a luxury apartment. As outlandish as this may seem, it has been reported that it was bought by a German investor this week.
According to IOL, the estate agent John McDermott said that this price in fact was not unusual for the area.
IOL cites McDermott commenting: “Parking bay 93 was sold to a German who, 24 hours later, bought an apartment for R25 million in Stellenbosch.
“There are about 10 others who desperately want to buy a similar parking bay - and who are quite happy to pay the same price - which just proves the great demand in this affluent area of Cape Town for parking.
"Many residents don't like having to leave their expensive cars in the road where some are deliberately scratched, which is very common. Or worse, having them stolen.
“In a season people will pay R20 000 to rent a parking space. On average, R5 000 is spent a month on parking alone.”