[QODLink]
Asia-Pacific

Banking on parking spaces in Hong Kong

More people shift investments in properties to parking lots, as roadside rates accelerate.
Last Modified: 25 Dec 2012 18:17

An increasing number of investors in Hong Kong have turned to parking lots, which are in huge demand in the Chinese city, to make major profits.

The rates for parking spaces in Hong Kong, a city with a population of about seven million people, have skyrocketed partly because of people switching their investments to avoid new property taxes.

Al Jazeera's Stephanie Scawen reports from Hong Kong.

66

Source:
Al Jazeera
Topics in this article
People
Featured on Al Jazeera
Muslim volunteers face questioning and threat of arrest, while aid has been disrupted or blocked, charities say.
Six months on, outrage and sorrow over the mass schoolgirl abduction has disappeared - except for families in Nigeria.
ISIL combatants seeking an 'exit strategy' from Mideast conflict need positive reinforcement back home, analysts say.
European nation hit by a wave of Islamophobia as many young fighters join ISIL in Syria and Iraq.
Featured
Lack of child protection laws means abandoned and orphaned kids rely heavily on the care of strangers.
At least 25 tax collectors have been killed since 2012 in Mogadishu, a city awash in weapons and abject poverty.
Since she was 16-years-old, Scottish Nationalist Party's Sturgeon has strove for independence from the UK.
Armed group's ransom success with German hostages marks a re-emergence, as authorities investigate ISIL links.
Western nations are moving into the resource-rich country after decades of disinterest, challenging China's interests.