Yes that’s right a golf buggy sold recently for HK$2.2m. No it did not have any special modifications nor was it different to the golf carts you see on most courses around the world. It was not even the famous buggy which Andy Powell the former Welsh rugby international drove down the M4 motorway outside Cardiff.
No this buggy was sold on Discovery Bay Hong Kong. The astonishing price in truth was not for the ownership of the actual buggy but the licence and permit to have one. The reason being that the resort of Discovery Bay which provides homes to large numbers of UK expats is only accessed by ferry from Hong Kong island. Once there you are faced with taking a bus unless you are one of the 500 lucky permit and licence holders which restricts the number of golf buggies ay the resort.
Despite the number of residents increasing to a current population of approximately 18,000 the HK government have imposed a cap on the carts on Lantau Island. Vehicles for the traders have now been permitted but under strict control but are not permitted to residents.
The value of the permits has grown significantly as the population has increased over the past two years or so and the pilot who purchased the cart said “it represented a safer investment than property at this time”.