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Hot hot hot, and why property is still cheap in Hong Kong

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Its pretty damn hot in HK right now, And I mean both the weather AND the property market.
People are making good use of the pools on Park Island and the ocean and beachs at Ma Wan, and agents are doing well for themselves selling to property to eager buyers who seem to be of the view that demand for property in HK is going to rise in the coming months and years ahead.
Property prices are at record historical prices, but this is of course also the case in many other major cities in the world, whether Sydney, London, Berlin, New York, Shanghai. 
Many experienced property analysts who have seen prior cycles believe that the fundamental conditions need to support a new boom over the next few years are firmly in place. Looking at the Centadata property graph below, many are expecting a new peak to get up to 200 on their price graph by the end of 2018 as the market starts to accelerate.
This weekend we saw may buyers, (probably a significant number being mainlanders) eagerly lining up to b…

Bistro Food Journey, Ma Wan, Hong Kong

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Always happy to give a plug to a local restaurant. These guys do pretty good breakfasts apparently. Go check them out!

Located at no 13 Tin Liu New Village, Ma Wan, HK. (If you are new to Ma Wan, just ask a local where the "New Village" is.

Phone 62960207


How to get property valuations from Hong Kong banks for mortgage purposes

All the major banks in HK offer indicative valuations of properties in HK. These valuations can be helpful as a guide of how much a bank is prepared to lend, based on their assessment of a property's value.

Some banks are more aggressive than others, so if you are seeking a bank that will maximize its lending to you, it is worth shopping around a little. Some banks may be more flexible, such that if you need, say a 10% larger valuation they might extend this to you.

Also, almost all the banks lag around 2 months behind the market, as they base their valuations on recorded transactions.

Finally, in a rising market, buyers, at least historically have paid 10-15% "above bank val". My feeling is that for now, the rule of thumb is bank val +5%, though this may rise if the market heats up again.

Some useful links for HK bank valuations below:

Bank of China property valuation

HSBC property valuation

Standard Chartered Bank property valuation

Hang Seng property valuation

Wing Lung b…

"In love with a falling city". Sharing a post from a blogger (based in Ma Wan) about his time and views of Hong Kong over the past 10 years

This article is a nice read: In love with a falling city

I wonder how others feel and reflect on the past 10 years in Hong Kong. My feelings are mixed, but I believe better days are ahead. Hong Kong is in a very special and unique position, both its place in Asia and with regard to its status and relationship with China.


Is a casino planned for Hong Kong? And will it be on Ma Wan?

It used to be relatively accepted thinking that Hong Kong would never get a casino as "the Jockey Club has a monopoly on gambling in Hong Kong". And historically, and before China yielded a greater influence over Hong Kong this was pretty much a given. Indeed, the HKJC was (and still is) a strong lobbyist against any form of competition, and was (and still is) backed by many people of power and influence from the pre-1997 colonial era.
Hong Kong already has "floating casino boats", and many Hong Kong citizens these days simply gamble on-line, or through more traditional Chinese triad associated shadow "gambling facilitators" (who take bets, lend money, pay out money, and when needed, collect money via various methods).
And right next to Hong Kong we of course have the gambling mecca of Asia, Macau (where many casino companies are actually listed in Hong Kong, on the Hong Kong Stock Exchange ("HKSE") including Sands China, Galaxy Entertainment, …

Photos of Park Island Ocean View

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With Ocean all around Ma Wan, and with many of the residents having ocean view apartments, its no surprise that we have a great collection of photos capturing the view across the ocean. Here are some of the photos I like best.:
















Did you every wonder why the Ma Wan theme park was built?

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The SCMP reported here as to Why was Ma Wan Park Built?



Sooner or later it will be replaced with something far more usable I believe. Either a proper park without fake animal statues, or maybe a car park for Park Island residents.