Weekend property activity update

I spoke to an agent on Saturday evening, who told me that so far this weekend they have been very busy. Apparently they have had a real pick up in interest for people looking to rent on Park Island. Apparently there is an entire circle of expats whose kids go to one of the international schools, who have decided one by one that Park Island is an ideal place to live. (I wonder if they know about the Park Island snake! lol).

I asked the agent what price per square foot the current rentals were being signed at, and he told me around $19-$20 per square foot, which sounds about right, but that he thinks by next year all rentals will be over $20 per square foot. Most people looking apparently find Park Island very good value compared to HK island, where they are being squeezed on rental renewals.

He also told me there has been a steady number of people looking to buy on Park Island, but not many actual sales are actually closed, as while people remain interested, the current financial volitility is putting people off from closing a deal. So a reasonable amount of nibbles, but not many bites in terms of actually closing sales transactions.