Fancy a parking bay with a view? It will cost you R1.1-million

Four months after a parking bay in Clifton sold for R990,000, a nearby suburb is aiming to trump the price.

An 18m² bay at 1 Victoria Road in Bakoven has gone on the market for R1.1-million - which would buy you a flat in Observatory, a townhouse in Plumstead or a family home in Retreat.

"Parking spaces very rarely come on the market in these areas, hence the price tag," said the agent marketing the "secure and private" bay, David Taylor of Marion Taylor Properties.

"Individuals who purchase parking bays such as these are usually owners of property in the area."

More often than not "the owners and guests of these prestigious parcels of real estate will have to find street parking close to their property for their vehicles".

People also lease parking bays, said Taylor. However, these deals are usually done privately, often between neighbours.

While the Clifton bay was on the roof of a block of flats, the Bakoven property is behind the automated door of the basement of an apartment block.

Taylor's ad for the patch of concrete reads: "The complex is perfectly situated within walking distance to the Camps Bay beachfront, as well as Bakoven's bungalows and beautiful beaches. Secure your peace of mind."