Boston woman pays half a million dollars for two parking spaces

Why buy a house when you can have a few square feet of smooth, grey asphalt?

Hurry in and get 'em while they're hot, a pair of parking spaces in Boston can be yours for the low, low price of half a million dollars.

At least that's the amount one woman was willing to fork out to buy two coveted parking spaces in a neighbourhood where people are scrambling for a piece of pavement. A woman named Lisa Blumenthal paid $560,000 for the spaces in the Back Bay area after an auction that drew a crowd, according to the Boston Globe.

By the end of the bidding, the newspaper reported most of the bidders were wide-eyed spectators, waiting to see which of the final two bidders would give up first. Bidding started at $42,000.

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Blumenthal said she would use the spots for guests and workers.

But she isn't the only city-dweller willing to pay a hefty price for a place to park.

In 2009, another parking space in the city's Back Bay area sold for $300,000, according to the Associated Press.

Last week, the news wire reported a San Francisco resident paid $82,000 for a parking spot in the pricey South Beach area. With the average cost of a condo in that neighbourhood about $1000 per square foot, the spot was at least cheaper than a living space. The San Francisco Chronicle joked that the buyer might be disappointed with the unit's lack of closet space.

And the place could sure use a paint job.

Canadian parking prices are continuously climbing, according to a survey by Colliers International, and Calgary remains the country's most expensive city to park your ride.

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