Showing posts from August, 2012

Chinese Opera on Ma Wan

I recently came across the blog site about Ma Wan Village
The site seems to be dormant now, but it did provide some information on what takes place each year in the structure that is erected in the Ma Wan Village, next to the Park Island Estate. Apparently its a traditional Chinese Opera, that performs each year around Chinese New Year.
I never knew what happened there, and now am planning to attend the next one. I would assume foreigner's are more than welcome to attend? Or is this more for a long term Ma Wan villagers only? If someone can clarify or if anyone who is a foreigner in Hong Kong has attended, do feel free to post your comments about the Chinese opera here on this blog.

Hong Kong Property "not overvalued" writes Tom Holland of the SCMP

Tom Holland piece in his SCMP Monitor Column dated August 27, 2012 has commented on the question many are asking. Is Hong Kong property overvalued? He writes:
As Hong Kong property prices set new highs, fears continue to mount that the market is a momentum-driven bubble in imminent danger of bursting.

Yet, although some softening of prices is possible given the weakness of the global trade cycle and the mainland's slowing growth rate, this column has long argued that there is little threat of a 1997-style crash any time soon. The reason is simple: although prices have gained dramatically over the last few years, there is no sign that the current boom - unlike the one in 1997 - has been propelled by a rapid increase in leverage.

If you doubt that - and many readers do - here is a little more evidence. The second chart shows the growth in value of outstanding mortgages plotted against the nominal growth rate of Hong Kong's economy.

In the run-up to 1997, the rise in mortgage lending…

Property update for prices of apartments on Park Island

Agents on Park Island are reporting that a number of "new records" for property prices, both apartments for rent and for sale were achieved this month. Transaction values also have noticably picked up after being quite low, historically, over the last year.

I'm trying to get some exact data from agents and then will put it up here.

What is happening on Park Island is probably a reflection of what is happening in general for the Hong Kong property market, which seems to be super high priced property is slowing or falling (both rentals and sales prices), with low and medium priced property continuing to increase.