Posts

Showing posts from November, 2010

What are the demographics of people who live on Park Island?

I thought it would be interesting to compare the official data with my own observations.
According to the most recent Hong Kong Government Census data:
-The average is 33 years old. This seems somewhat young to me, but I think the data must be skewed as so many people with children live on Park Island. With so many families with kids 1 to 10 years of age on the island, I think this must bring the average age well down. Also many air hostess live on the island, and they must range between 22-30 years of age,
-The average employment income for Park Island residents is double the average for Hong Kong, and the average household income Park Island residents is triple the the average for Hong Kong. At first these figures seem a surprise. One would think that the wealthy people live in the Mid Levels in Hong Kong (and I am sure they do). But the reason why Park Island ranks well above average is probably because this is all private apartments (not Government housing) and probably because its a l…

A new record set for a Park Island

There is an article here in Chinese http://hk.news.yahoo.com/article/101117/4/lb1q.html which reports that a luxury apartment sold a few days ago on Park Island for over 10,000 per square foot at HKD $19.75m.
The apartment is 1880 square foot, 33rd floor, block 31. It comes with an 800 square foot balcony, and access to the rooftop and fully open views. No doubt amazing for entertaining etc.
This is a new record for Park Island, and to me confirms the changing profile of people who are moving to Park Island.

A good article about Park Island

Image
I got this article below from a property magazine in HK called Square Foot. It was published in 2008. I have made some additions of my own (in bold italics).
Background In the early days, most Park Island purchasers were investors looking to make a quick profit, but today 90 percent are buying for their own use. The property market is still behind that of other parts of Hong Kong but it is moving up slowly. My observation is that this is as correct in 2010 as it was in 2008. By way of an introduction, for those not familiar with it, Park Island Estate on Ma Wan is best described as Discovery Bay's baby brother. It has also been described as "Like DB but more Chinese" and "Like DB but classier and cleaner". Brought into being by Sun Hung Kai Properties Ltd in 2002, it covers over 1.3 million square feet, and is now into its 31st phase.The final phase of apartments is due to be launched in Q1 or Q2 of 2011. After that, no further supply of apartments will be availab…

Will private cars ever be allowed on Park Island?

Park Island is connected by an excellent modern highway that connects to the Hong Kong Airport on Lantau Island, and to Kowloon and Hong Kong Island. See below Park Island on Google maps:

To get to Park Island, you can use public transport such as a buses or ferries. Private busses also drive to Park Island (eg for school groups, or tours visiting the Noah's Arc). And service vehicles are also allowed (eg for furniture and goods deliveries).
Originally, as part of Park Island's eco-friendly clean air policy, taxis were banned from the island. However on 3 July 2008, the Goverment made changes to the policy and decided to allows taxis are now permitted to enter from 8pm to 7am in the morning. Any resident living on Park Island has the phone number of a "discount taxi" that offers 15-20% off normal rates.
Park Island does have the space for private parking, and so there is often speculation as to when (or whether) private cars will be allowed on Ma Wan.
Many Park Island r…