Hong Kong’s punters plunge into car parking bays, sending transactions to records amid rollback of stamp duty

A limited supply of car parking spaces in Hong Kong, coupled with the removal of double stamp duty, has whetted investors’ appetite for this corner of the property segment, which is likely to push turnover to an all-time high this year.

A total of 9,600 parking spaces in the city are expected to change hands in 2021 with the value topping HK$18.5 billion (US$2.37 billion), erasing the previous record of HK$16.6 billion in 2018, according to a research note by Centaline Property Agency.