Hong Kong property transactions records - what are the best information sources for current transactions prices?

In the comments section of my blog posting :

"Where did you get this graph chart from? I want to view the source please, I've looked at Midland, Centadata, gohome and property.hk but they show different results to what you have on this blog."

Rather than try to anwer the question in the comments section of that posting, I will try to address it here.

The data and the HK property transaction graph were taken from Centaline property:


Specifically for Park Island, see:

I think Centadata is based on results done though the Centaline agency, and it seems to me they update the results daily. So you will see changes in the price graph on a daily basis, depending upon the most recent transactions. That is also where I got the price data for my previous posts related to transaction trends, such as:

When trying to assess the current value of price trend of a particular property, I would suggest using multiple resources, and then forming your own opinion. So for Park Island, take for example the following:

Propgo, which as their latest Park Island graph here:


Park Island Transaction Historical Chart

Centadata, which as their latest Park Island graph here http://hk.centadata.com/eptest.aspx?type=3&code=WDPPWPPEPB&info=chart&code2=&page=0 has the following:

Park Island transaction chart from Ricacorp

Ricacorp, which as their latest Park Island graph here:
http://www.ricacorp.com.hk/ricadata/eptest.aspx?type=3&code=WDPPWPPEPB&info=chart&code2=&page=0 has the following:


So looking at these for example, you can see a definate trend upwards for Park Island, and a consensus that prices are at all time highs, as well as a good indication of current price per square foot.

What I would do, if I was buying, was have the latest figure in my mind, but then low ball sellers, and especially if a sudden "economic crisis" type event is just in the news, use that to try to find a seller and get him to sell to you at a "below market" price.

As a final resource, I would suggest though looking at HSBC bank valuations. HSBC has quite a comprehensive HK property valuation tool which provides a rough quide on what they value a property at for lending purposes. http://www.hsbc.com.hk/1/2/hk/mortgages/valuation

Bear in mind they take a conservative approach, so what is typically done in HK to assess the "market rate" is to take the HSBC valuation and then add 10%-15% on top of that. If you can buy something at exactly the price HSBC values it at, you are usually doing great.

My view is that Park Island is still very affordable for what you get. For people waiting to buy, I would be very tempted to just bite the bullet, get in, and ride what I think will be a long term upward trend. Both rents and sales prices will in my view keep rising as people realise how nice it is to live there, and how affordable it is compared to other parts of Hong Kong.

Hope this use useful. I'm now off for a swim at Blue Blue :)

Comments

  1. AnonymousDecember 7, 2011 at 3:10 AM

    Cool - thanks very much - hope you had a good swim.

    Here's another that you may (possibly) find interessting

    http://en.homeprice.com.hk/

    ReplyDelete
  2. AnonymousDecember 7, 2011 at 9:15 PM

    Thanks, very useful info. I saw a different graph on centaline when I looked, don't know where I went wrong!
    On midland etc it didn't seem as positive for PI but as long as it doesn't dive I'm happy as we got our apartment less than 1 year ago !

    ReplyDelete
  3. AnonymousDecember 8, 2011 at 3:00 AM

    If you just have one property, it doesn't matter what the market does. Usually everything moves in trend and all together. Even though your flat went up by 30% ....well all other flats in HK are likely to have also gone up by 30% so if you want to sell, you'd only be able to afford another flat of the exact same standing.

    If you have one flat only like me, i wouldn't worry too much about the market. It's always nice to know it has gone up i agree...but only useful if other flats have gone up by less than yours.

    ReplyDelete
  4. AnonymousDecember 8, 2011 at 6:27 AM

    Well in our case, we want it to go up slowly but steadily so that when we leave (we don't know when that will be) we can sell it to buy somewhere back home.
    I agree that if you sell 1 flat to move into another within HK, it doesn't make much difference although if you downsize or move to a less expensive location, you would easily come up with 'spare change' !

    ReplyDelete
  5. AnonymousDecember 8, 2011 at 8:08 PM

    Very useful resources. Thank you!

    ReplyDelete
  6. The Park Island BloggerDecember 11, 2011 at 6:46 AM

    With regard to the 4th comment, here's a question for you. If Park Island prices keep rising, so that they "catch up" to prices elsewhere in HK, would you sell on Park Island and move anywhere else?

    ReplyDelete
  7. AnonymousDecember 11, 2011 at 8:16 PM

    I am the 4th commenter, to answer your question....it depends.
    In our situation of not planning to be here for long, no we wouldn't. There is no point as we really like living here and apart from the areas of Sai Kung side we've not discovered an area we would rather live ! (You would have to pay me to live in mid levels or the peak. Asides from the prestige of living there, I don't see the attraction personally.

    But if we knew we were settling and raising children here then we would need to move as our flat is not big enough to be comfortable IMO, but maybe within PI, depends on many factors.

    ReplyDelete
  8. The Park Island BloggerDecember 20, 2011 at 10:27 PM

    I agree with you. I honestly would prefer to live on Park Island vs say the Peak or Repulse Bay, so for me Park Island is a no brainer, given how much cheaper it is!

    As for Sai Kung, its not my thing, as I prefer the convienience of Park Island, the facilities, shops, transport, distance to Central, airport etc, but I can see how Sai Kung might appeal to some poeple.

    ReplyDelete
  9. AnonymousMarch 25, 2012 at 10:23 PM

    I agree. No brainer and you get to enjoy the facilities while your property price at Park Island goes up.

    ReplyDelete

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