As a result of increased demand, the price of a previously owned parking spot in a residential complex has increased by 6.7 per cent from the previous quarter. The current average going rate is $82,600, according to Centaline Property Agency, setting the second highest price on record in the last 3 months.

At the higher end of the market, a space in the prestigious Repulse Bay area of Hong Kong sold for an eye-watering $387,000 in May this year, according to carpark.com.

But if you think Hong Kongers are going crazy lengths to keep their Lambos warm, then a Singaporean property company has taken its investment to another level, quite literally. The “parking experience”” at The Hamilton Scotts luxury development starts with a biometrically controlled glass elevator that lifts cars from street level into individual residences and parks them behind a glass wall next to the living room. Starting prices for these extravagant dwellings are $10million upwards.

Your glamorous correspondent, of course, has no need to bother about such matters: using a limousine means one does not have to bother about finding a parking slot in the first place.