Location, Location, Location

The three-bedroom apartment pictured above is for sale for approximately $940. Sounds like a bargain, and the only catch is that it's in Vorkuta, Russia, which has the distinction of being "the fourth largest city north of the Arctic Circle and the easternmost town in Europe." The name Vorkuta in the original language means "the abundance of bears." The town was founded as part of the Soviet Gulag system. The real estate listing is here. Read more about this bargain, including an exterior picture, at Boing Boing.

Meanwhile, in Hong Kong, Johnny Cheung Shun-yee sold his four parking spaces at The Center, a 73-story office tower. The final space was sold for HK$7.6 million (US$969,000). That works out to $7,205 per square foot in US dollars. The unnamed buyer is someone who has an office in the building.

You could buy over a thousand apartments in Vorkuta for the price of one parking space in Hong Kong.