Would you pay R1m for a parking bay in the Cape?

CapeTalk's Kieno Kammies speaks to property strategist at FNB, John Loos about the San Michelle rooftop car parking bay which just went on sale for R990 000.

Loos says he is not certain whether this is a good investment but he knows the super rich wont have a problem acquiring it.

The super rich would not only do parking but will probably do a fair amount of entertainment or even use it as a helipad.

John Loos, property strategist at FNB

If you thinking about seriously wealthy people R1 million for a parking bay is probably not that extreme.

John Loos, property strategist at FNB

Cape Town estate agent John McDermott has confirmed to TimesLive that they have "three or four definite buyers” for the parking bay.

Listen below to hear more of this interview:

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