Park Island luxury villas

I spoke to two agents today who told me that the price for the villas will be HKD 20,000 per square foot. They will apparently officially launch some time in the next 4-6 months.

Comments

  1. AnonymousJune 26, 2011 at 11:02 PM

    20k psf!!! Man, that is staggering.

    I still think PI represents excellent value for money, but I don't think I could extend that to the villas at that price.

    Wow!

    ReplyDelete
  2. The Park Island BloggerJune 26, 2011 at 11:19 PM

    Let's see how many of the buyers of the villas are mainlanders. Its probably a lot of Chinese money that will go towards buying these.

    Personally, rather then those villas, if you really wanted a luxury place on Park Island, I would consider the top two floor penthouses in the apartment buildings, which to me are much better value.

    Still, the villas have private pools, grass gardens, BBQs, and ocean views, which some people are definately prepared to pay for. (I am still unsure whether they have private parking or not, but obviously that will have an effect on the price).

    ReplyDelete
  3. AnonymousJune 27, 2011 at 12:14 AM

    Yes I agree - it would be hard to go past those penthouses, which are probably less than a third of the price psf of the villas

    Yes, carparking is the dark-horse of PI over the coming year. If they do release general car-parking in the future, I wonder how the initial release would be sold, eg as an auction or fixed price?

    Interesting times ahead on Ma Wan :)

    ReplyDelete
  4. The Park Island BloggerJune 27, 2011 at 5:09 AM

    The agents I spoke to regarding the relative value of the penthouses vs the villas seem to be of the view that right now, the owners of the penthouses are pretty much sitting tight, waiting for the villas to be launched, in the hope that the villa prices will set a new benchmark for penthouses and puch them up also.

    Also, there seems to be the view that as marketing kicks off for the villas, this will have an overall positive effect for Park Island in general, as more people come over and get familiar with what PI has to offer.

    My suggestion for the parking on Ma Wan, if and when that ever happens, is that there should be an initial release of say 200 car parks, which would be auctioned off with only existing owners being eligable to purchase. After an "impact assessment" further car parks could be sold off on a similar basis.

    I think the car parks should be placed in a location that keep PI itself as car free as possible. The location under the Tsing Ma bridge, or the land just as you enter Ma Wan after the roundabout would seem to be to be ideal locations.

    ReplyDelete
  5. Andrew FungJune 30, 2011 at 1:35 AM

    20 k per daft seems reasonable to me. U get better quality housing and environment and facilities at a price lower than mid levels, repulse bay etc. So I can see for sure how these will be snapped up.

    ReplyDelete

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