It may be a little hard for most of us to believe, but two tandem parking spots recently auctioned in Boston sold for $560,000. The parking spaces on Boston’s Commonwealth Avenue cost $280,000 each which is almost equal to the median single-family home price in Massachusetts.
And, this isn’t even the most expensive parking space. The record for the most expensive parking spot on Commonwealth Avenue is $300,000 in 2009.
Boston isn’t the only area that is racking up high costs for parking spaces. A spot in a trendy South Beach neighborhood of San Francisco recently sold for $82,000.
Colliers International 2012 Parking Rate Survey ranked Boston and San Francisco fourth and fifth on this list of most expensive monthly parking rates.