Over-the-top Parking Fees OK by City Bureau

Source: Southern Metropolis Daily

Parking spots in a residential building in Guangzhou, Guangdong province, cost 750,000 yuan ($108,000) each, seven times the normal price.

The Guangzhou Golden Bay residential building, one of the most expensive in the city, owns all the 40-sq-m parking lot. The building's sales department says that dozens of these exorbitant parking spots have been sold.

Most tenants in the building, however, think that the parking spots are far too expensive, and that the government should control the price.

But the city's price bureau says that as the price is decided by the market, it will not interfere.

[More Guangzhou News]

Editor: Chen Minjie