Posts

Showing posts from November, 2011

Park Island prices hit new record in 2011

Believe it of not, the two most recent sales for November for Park Island hit record prices.
An upper level apartment in Block 17, unit J, sold at $6295 per square foot on 25 November 2011. And an 23 November 2011 an upper level apartment in Block 2 unit C, sold at $6323 per square foot. Really quite suprising given the current turmoil on the global financial markets.
Rentals still seem to be between $17 to $20 per square foot range.

Photo of Park Island as the sun sets over Hong Kong

Image
I took this photo of the sun setting over Park Island last night. What great weather we have had this month in Hong Kong!

Tommy's Kitchen on Ma Wan is closing :(

Sad to hear the news that Tommy's is indeed closing, having been squeezed out by higher rents demanded by the landlord upon renewal of the lease.
Let's hope its not another real-estate agency that takes up this location. I have heard that the dim sum lady just down the road might take the spot.
Tommy meanwhile will now do something in the evenings at the location of their other shop near the ferry that right now does takeaway breakfasts, sandwiches, coffee, etc.

Effect of the Tuen Mun Chek Lap Kok link on Park Island

Image
I recently spoke to a Hong Kong politician who told me, he had it "on good authority" that there would be car parking on Park Island once the Tuen Mun Chek Lap Kok link was completed.
I was not sure what the Tuen Mun Chek Lap Kok link was, so I Googled it, and obtained the following details:

The proposed Tuen Mun – Chek Lap Kok Link and Tuen Mun Western Bypass will provide the most direct route between the Northwest New Territories (NWNT) and Lantau, joining the Kong Sham Western Highway, the port back-up areas in the NWNT, the Tuen Mun River Trade Terminal, the Ecopark, the Hong Kong – Zhuhai – Macao Bridge Hong Kong Boundary Crossing Facilities, the Hong Kong International Airport (the Airport), the proposed Lantau Logistics Park and various North Lantau developments.
Upon completion, the new route will significantly reduce the journey time between the NWNT and Lantau.
The Project will release some capacity of the existing roads such as Tuen Mun Road, Ting Kau Bridge, Lantau…

Development plan of the Ma Wan old village

I noticed the possible redevelopment of the Ma Wan old village area is being discussed among Park Island expats on the Ma Wan Network Facebook Group.
It seems that the old village will likely be developed with low density housing (ie 3-level villas or houses) and commercial, recreational and tourism facilities (my guess is perhaps a hotel, marina, restaurants along the beach, etc).
See below some details about what may be coming:
Draft Ma Wan Outline Zoning Plan approved.
The Chief Executive in Council has approved the draft Ma Wan Outline Zoning Plan (OZP).


"The approved OZP provides a statutory land use planning framework to guide the development and redevelopment within the Ma Wan area," a spokesman for the Town Planning Board said today (June 12).
The Planning Scheme Area covers about 101 hectares of land comprising Ma Wan and Tang Lung Chau. Ma Wan is situated between Tsing Yi and Tsing Chau Tsai Peninsula in northeast Lantau, about five kilometres from Tsuen Wan and 12 kilo…

A few photos of the Park Island Villas

Image
I took a few photos of the new Park Island Villas on Ma Wan yesterday. As I wrote earlier, it seems they are being spruced up for promotional launch.
An agent I spoke to today told me he has heard they will be priced at 22,000 to 25,000 per square foot. Apparently they will also be given a special name. Ie, not Phase 6 Park Island, but something more prestegious sounding such as Ocean Villas, for example.




Meanwhile, it seems Park Island property prices again hit a new high, although transaction volume remains low. See below the latest price trend graph from Centerline.

Some activity happening at the new villas

I have noticed substantial activity at the new villas. Teams of gardeners planting flowers, cranes being used to deliver and plant trees. The building next to the villas has had an artificial lawn added on the rooftop (they should have done it with real grass!).
So, it seems they are getting ready and sprucing things up for a sales launch. My guess now is it will start being prompoted for sale around Chinese New Year in 2012. Interesting how the extended taxi times happened to be nicely approved just recently.
Time will tell what is planned for the structure right next to the villas. To me it still looks very much like a car park, and a while back I saw a whole bunch of Government official types inspecting that structure, measuring, taking photos, looking at building plans, etc.

Taxi access hours to Park Island

Image
I am pleased to report that taxi access hours to Ma Wan have now been extended such that taxies, during the week, can enter at all times, except between 7am to 10am.
During weekends taxi access is only permitted after 8pm, which I personally am OK with as it will keep away the crowds who would otherwise come to enjoy our beaches on Park Island!
Below is the notice I saw posted up by the Park Island Management.

A few random comments

Wow - its really interesting to see more new expats arriving on Park Island each week. For those of us who have been on Park Island for some time, the "new arrivals" are very noticable, especially the big smiles on their faces as they realise what a nice lifestyle choice they have made as they walk around the island.
The typical profile of our new arrivals seems to be a young couple, 30-35 years of age, often pushing a pram with a small baby (or possibly a pregnant wife expecting a baby). Also noticable are the expat couples aged 55-60, who seem to be happily married, with kids already having grown up and left the home!
 It's great to see how quickly new arrivals seem to fit in, get to know residents, hanging out on the beach and at the beach restaurants. (And speaking of the beach, isn't the weather GREAT right now. Blue skys, not too hot, and a little chilled in the evening. I love it right now!).
A 3rd common category seem to be young Chinese couples taking up resid…