6800 monthly rental for a car park in Olympic? You pay less than half that for one in my building at Kowloon station.
I find it hard to believe myself. I live in the shitty part of Tai Kok Tsui and they are selling the bays for $2.2m. Mathemaically you would need to rent out for $4-$6k to get a 2-3% return, and that is what I was told I could get. It's a tall skinny 60 story single tower building with only 42 bays, so maybe this is what makes them so valuable? They used to have a lottery every 6 months to see who could rent them out for the next 6 months and then if you didn't win the lottery you would have to park over in Metro Harbour view around the corner which is much bigger.
im guessing you're actually referring to metro harbour view which is probably closer to nam cheong station. I dont think the rental is anywhere near $4200 as TheBrit mentioned, that's more like the price at kowloon station (at least in my block)
Not metro harbour view but close to it. MHV is a much bigger estate than mine with a lot more carpark spaces, maybe thats what makes the ones in my building so damn expensive.