According to reports coming out of Hong Kong, investors are currently looking for alternative investments as investors from mainland China are pushing prices sky high, which has dampened demand for property investments.  It has sparked interest for an investment that is quite unlikely- Car Parking Spaces.  

The blame for increased prices is predominantly mainland Chinese buyers that since 2009 prices have increased by 90%, as the mainland Chinese flocked to Hong Kong during the recent economic boom.  Taxes were raised on residential property in an attempt to rein in prices following numerous complaints from native Hong Kong residents that even small features had become too expensive.  However, the prices continue to soar.

Certain kerbs appear to be working now.  However, there have been some unusual knock-on effects as well, as imaginative Hong Kong investors have turned to car parking investments, which may reach an all-time high according to analysts.   The alternative investment of car park investment grabbed the public’s attention last month when there were a single car parking spaces sales at a reported price of  HK$1.3 million ($166,666).

That was the most expensive sale until Cheung Kong Holdings, the flagship of tycoon Li Ka-Shing, sold off 514 car parking spaces for the grand sum of HK$600 million.  It was reported that some of the spots that were situated in Hong Kong’s New Territories area that border mainland China, resold quickly for profits as much as HK$300,000 each.

When it comes to london car parking investments, sellers have stated that there has been an increased level of activity.  They believe it is because the spaces are cheaper compared to purchasing property, are maintenance-free and were unaffected by the new taxes.

New home sales have dropped almost 50 percent this has caused savvy investors to move into car parking spaces.  Wong Leung-sing, Centaline research head, warned it was more risky investment potentially, and he thought that it was likely that the average price for a second-hand car parking space would break its record high price of HK$660,000 registered in the latter part of 1997 before the Asian financial crisis.

He added that “this year’s third quarter the average price for space was HK$640,000”.

In the UK the appetite for investing in car park has been growing for the last 2 years through the operator Park First having launched in Glasgow, Gatwick and most recently offering Luton Airport investment Offering with Birmingham and Manchester in the pipeline.   

http://www.cardealerwatchdog.com/westwood4finance-co-uk/

So, you’re looking to buy a used car, but you’re unsure of where to start. It can be incredibly intimidating purchasing a vehicle of any kind since it’s such a massive investment. You might be spending hundreds or even thousands of dollars, so you want to make sure the choice you make is the right one, especially in the case of used vehicles since so much can potentially go wrong. To make sure you get a good vehicle on your hands, here are a few key things to look out for when buying any car:

1 - Mileage

There are multiple aspects of the recorded mileage that you need to investigate. First of all, how many miles are on the car? You can compare that and the model to determine whether or not the value that the seller is asking for is worth it. If the miles aren’t sky high, you’ll know there’s still some good life left in the vehicle as well. Of course, with the unpredictability of petrol prices, you also want to make sure that the car itself has good miles per gallon ratio. Otherwise, you’ll have to spend tonnes of money filling it up week after week.

2 - Paperwork & Service History

It’s best to make sure that the seller has all of the paperwork for the car, including the registration, this is especially true if you’re buying from an individual rather than a dealer. You never want to be in the position of the purchase of a vehicle that isn’t the seller’s to give away. Service history papers, including receipts of every time the oil has been changed or the tires balanced, are also good to have since they’ll prove to you that the vehicle has been well taken care of during its life.

3 - Test Drive Availability

Of course, you want to be able to test drive any car you come across just to be certain it’s in tip top shape. If you find a seller that isn’t confident in the idea or tries to talk their way around letting you get in the driver seat before sealing the deal, then that is a gigantic red flag. Walk away in any scenario like that, and don’t look back! Provided the seller is happy to let you get behind the wheel, and you can feel that the car drives well and you’re not hearing any horrible noises or feeling finicky brakes, the signs are likely pointing to the car being at least reasonably reliable.  

Above all, research is king when you’re looking to buy used cars. You can determine your budget and seek out exactly what kind of cars you might be able to afford. If something of a curve ball comes your way, you also need to look into it before agreeing to anything. Never let a seller pressure you! As long as you establish that the car isn’t on its last leg, has been well taken care of, and you’re able to take a test drive it to make sure everything is kosher, you should have everything you need to make a smart purchase decision.

4 - Autotrader Prices

Always find comparable cars in Autotrader you can then asses the car is worth the money the seller has asked for.

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By Christopher Whittall and Riva Gold Global stocks headed sharply lower Friday as falling oil prices continued to weigh on markets. Futures markets pointed to a 0.9% opening loss for the Dow Jones Industrial Average. Changes in futures aren’t necessarily reflected in market moves after the opening bell. The Stoxx Europe 600 declined 1.3% in early afternoon European trading, following three consecutive days of decline, taking losses for the week to 3.3%. U.S. stocks rose slightly on Thursday as