Breaking News

A golf cart that costs more than a Porsche and a Tesla

A golf cart that costs more than a Porsche and a Tesla



A golf cart that costs more than a Porsche and a Tesla
A golf cart that costs more than a Porsche and a Tesla 

While vehicle organizations contend to offer super-costly models to affluent Chinese, in one Hong Kong neighborhood, the most appealing vehicle is ... a golf truck. 

In this piece of the world, a four-wheeled vehicle can cost more than a Porsche or Tesla, Bloomberg composes. 

In the city of Discovery Bay, situated around a little ways from downtown Hong Kong, golf trucks are favored methods for transportation as well as a venture. Adorable and bulky surreys arrive at costs of over $ 2 million, equal to more than $ 250,000.

The question is why?

The main reason lies in the regulations. In a quiet neighborhood populated mainly with bankers, lawyers and airline pilots, driving on the streets is prohibited.

The Ministry of Transport has provided a single opportunity for movement other than the pedestrian, and these are golf carts. However, even there are restrictions on the - licenses to drive such a vehicle are about 500 in number, and the population of Discovery Bay is around 20,000. 

This limited supply has made compact buggies a luxury item for which many are willing to part with serious sums. The carts themselves are bought for under $ 10,000 from the United States, but buyers are actually paying for the license, not the vehicle itself.

In order to obtain such a document, you must be a registered resident of Discovery Bay, and you must own a property in the neighborhood. 

House prices are also not the lowest, which is hardly a surprise when it comes to Asia's financial capital. Prices for average apartments in this metropolitan area range between $ 1 million and $ 10 million.

At $ 250,000, a golf cart license can be up to a quarter of the property's value. 

For comparison, the brand new Tesla Model S sells for just over $ 1 million (about $ 130,000), and the Porsche 718 Boxster supercar can be found for just over $ 120,000. 

Over the last few years, authorities in Hong Kong have taken a series of measures aimed at "cooling" the property market and slowing property price growth. Some of them also introduced additional taxes on real estate transactions.

This has led some investors to look at golf carts as a viable alternative. Instead of investing their savings in buying a home, Discovery Bay's enterprising residents prefer to buy buggies, which they then rent out for between $ 1,000 and $ 1,200 a month. 

However, not everyone shares the euphoria about compact vehicles, which are generally designed to run on golf courses rather than on city streets.

"People think this will last forever, and in fact, there are many serious risks," said real estate consultant David G, quoted by Bloomberg. Golf carts, he said, have many alternatives, including bicycles and public transportation, which in many cases can offer more convenience. 

Still, small four-wheeled vehicles remain one of Discovery Bay's business cards. You can see them literally everywhere - couriers carry them, nannies take the children to school, and even regular pets are found among regular passengers.