Monday, April 14, 2014

Tung Wan Beach extension project - update

In a post in 2012 I wrote about plans to significantly expand/replenish the main beach on Ma Wan. See :

http://parkislandhongkong.blogspot.com/2012/09/ma-wans-tung-wan-beach-to-be-extended.html 

Map of proposed Tung Wan Beach replenishment project.
I spoke to the Department of Leisure and Cultural Services today for an update, as the previous plans were to commence works in March or April of 2014, and so far I have not see the beach grow.

The latest plans are now for works to be commenced in March/April of 2015, with the project to be finished by the end of 2015.

So, what caused the delay? Well it's typical Government bureaucracy, (as is often the case). In a nutshell, the volume of sand to be added is so large that it will "significantly alter the shoreline and high-water mark". In essence under some Ordinances, this is considered to be "creating new land". So even though the Department of Leisure and Cultural Services has approved the project, there now need to be legislative amendments made, both under the Town Planning Ordinance, and the Foreshore and Sea-Bed (Reclamation) Ordinance.

There is also a minor matter of local shrimp fisherman complaining that the works will affect their catch, and seeking a small amount of compensation, but that apparently has been dealt with.

I also obtained a little further insights into longer term plans for the island (ie the part under the bridge and the fisherman village side, but nothing definite for now that is worth reporting).

Diagram showing the proposed floating sand pipeline.




Sunday, October 13, 2013

A nice lady looking for a flatmate on Ma Wan

My name is Mimi and I found your blog page and learned many great things about Park Island in Ma Wan.

I would love to move in this place as my office in causeway bay but I need flatmate to share the place.

I have searched many website but so far could not find any particular flatmate who want to stay in ma wan.

It is such a shame that many people don't really know how great the lifestyle they have in Ma Wan and always look for the flats in Hong Kong Island even there is 24hrs easy access from park island to central.

As I found that you have  over 20 years of living experience in Hong Kong and resident in Park Island, I am begging for your support if possible.

If you know any information about where I can find a flatmate to live in Ma Wan, pls kindly reply me at goaotearoa@gmail.com

Thank you for taking your time to reading this.

Best Regards
Mimi

Sunday, July 14, 2013

A newly renovated Park Island apartment in Block 7

These photos show the space and size you can get in some of the Park Island apartments. This apartment is 1532 square feet, with a rooftop of around 600 square feet.

Combined with amazing views, and high quality yet minimalist renovations, you can create an extremely comfortable home ideal for people who desire both space, peace, views, and easy access to a host of facilities on the island.

The views of the bridge are also stunning, especially in the evenings.

The bank valuation for these type of apartments is between 18-20 million, depending on which block they are in, although agents will tell you that you well need to pay over 20 million to get one as all sellers are asking beyond bank valuation. Further, publicity and interest from buyers and possible tenants of the AnaCapri apartments on Ma Wan is creating new interest and awareness in apartments such as a the one featured here, as such people inevitably view and consider these once they have come to Park Island to view AnaCapri.








Friday, June 21, 2013

Park Island shows huge increases and buyers return to the market.

Below is the latest data out for Park Island property prices.

Prices on Park Island hit an all time high. This confirms my observations and what agents have been reporting.


You can see a pretty big spike reflected in the graph here. What will happen next is most likely that banks will revalue their lending valuations for Park Island upwards, leading to further increases. So for those who have been holding off to buy, now might be the time to go for it and lock in at low interest rates if possible.

Sunday, June 16, 2013

Park Island Price Graph

Below is a graph showing prices and transaction volumes over the last year which a reader sent me yesterday.



I am not sure what the Chinese characters say, but basically the horizontal axis is volume per month, and the vertical axis is the price per square foot.

Transaction volumes still look pretty low (lets see how many they have by end of the month), but what is clear is that those who are buying are paying increasingly higher prices. This makes me wonder whether the Government's "cooling measures" have actually been both unfair and counterproductive, as they make sellers less willing to sell, yet genuine buyers are needing to fork out more.

What do you think?


Saturday, June 15, 2013

One bedroom apartment wanted on Park Island



Posting a request received as follows:

Would you know by chance if there is any renovated studio or 1 bedroom apart available for rent please? I am desperately looking for one but don't want to rent a 2 bedrooms as i will just be alone living in the apartment… :(

NARY






Friday, June 14, 2013

Park Island Property on the rise again

Wow, latest data out from Centerline. Of all all the estates in Hong Kong, Park Island increased more this week than any other, rising 10.23%, averaging 9258 per square foot.

I am not sure how many transactions this is based on but it is a remarkable increase, and will surely be reflected in bank valuations next week.

The index also showed Hong Kong properties rising 2% overall this week.