Im in Sydney AU and parking spots are more like 50-100k. In the city center, or desirable suburbs you might see $150-200k. The city has also restricted parking permits to 1/residential address, and eliminated them for businesses.

This has all been more-or-leas fine, with residential prices factoring in parking, and multi-tenant developments pulling in density via car stackers and the like. Oh, and a pretty functional transit system, of course.