Park Island Property Prices rose again last month

Park Island Property Prices rose 8.5% over the last month. I won't go over the many reasons for this again, as I have posted on this before, for example:

http://parkislandhongkong.blogspot.com/2013/02/park-island-property-prices-are-poised.html

http://parkislandhongkong.blogspot.com/2012/09/park-island-property-prices-new-records.html

Click here to view the latest published statistical information on Park Island Property Prices.

Park Island property remains exceptional value at current prices compared to property in almost all other part of Hong Kong, so I would expect that prices are likely to keep rising.

I will shortly post an update on the latest Park Island ferry, taxi, and bus schedules.

A reminder that if you support the proposal for Private Car Parking for Park Island Residents, there is a petition you can sign here: Park Island Resident's Car Parking Petition.

That's it for now.

The Park Island Blogger

Comments

  1. AnonymousMarch 3, 2013 at 8:41 PM

    The increase is merely narrowing the gap between Park Island and other areas - still a laggard in prices and represents good value. An interesting development is the coming on-stream of Phase 6 Anacapri which is due to complete this month. There will undoubtedly be transactions from this new develpment and I can safely say that the prices per square foot will not be what we see on avergae currently. It will be significantly higher and might also provide a lift to Park Island in general. If anyone is deciding about PI currently, do bear this factor in mind.

    ReplyDelete
    Replies
    1. AnonymousJanuary 25, 2015 at 10:14 PM

      Park island is still better value than anything else nearby. It was originally sold so cheaply so yes clearly the price will move up as the value gap g ets closer over time to other higher priced property nearby.

      Delete
    2. AnonymousApril 22, 2015 at 11:52 PM

      I agree. Value for money Park Island will race ahead in value as its so good value now compared to the rest of HK.

      Delete
  2. AnonymousMarch 3, 2013 at 11:46 PM

    Gosh, prices are rising! i have my mind set on buying an apartment in Park Island but i still need to save.. Do you think prices will be drastically different now and say, 2 years later?

    ReplyDelete
  3. AnonymousMarch 18, 2013 at 6:24 PM

    Prices in 2 years time would not be any lower than today unless something drastic happen to the interest rate environment. Owners mortgaged to the hilt would be sensitive to interest rate rises but the relatively cheap prices in Park Island would to an extent spared due to lower mortgage quantum. But my guess is that there will be positive development that would make living in PI more convenient in the long run and better facilities. Like good wine, it takes time to mature and realise the full potential. Interestingly SCMP today announced the likely increase of DB ferry prices by a whopping 9.5%, ouch! $37 for a single journey, that is double what PI residents pay.

    ReplyDelete
  4. AnonymousMarch 21, 2013 at 9:41 PM

    I'm thinking prices and rent will be alot higher in the years to come. HK is being squeezed with demand due to its unique low tax offerings and Asia's richest people will continue to put money in. Park Island is a very pleasent and underrated Estate, so its bound to rise continuously over the next decade.

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  5. AnonymousMarch 22, 2013 at 5:43 AM

    Prices up over 3% this week.

    It looks like we are heading to $10,000 PSF for net price for average park island apartment by end of the year.

    ReplyDelete
  6. AnonymousMarch 31, 2013 at 11:34 PM

    Very low transaction volume in March but prices are stable. $10,000 psf by year end seems optimistic but achievable in the medium term.

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  7. AnonymousMay 7, 2013 at 5:34 PM

    Article in SCMP today 8 May regarding ... "firms coming to the city from all across Europe" and one wonders where they would settle? Dirty and noisy streets in Central or they can afford the quietness and luxury of Repulse or South Bay? I think not. So Park Island will continue to attract influx from European expats to come (so would DB).

    ReplyDelete
  8. AnonymousMay 21, 2013 at 5:58 AM

    I would think Park Island will keep rising, as prices never got crazy there and are actually affordable. Rents are definately rising there, so prices will follow I would think. A family I knew were paying 32K for a large 3 brm place, and now the landlord jacked it up to 38K. They accept it as they had not choice and did not want to move again to a smaller place.

    ReplyDelete
  9. AnonymousMay 25, 2013 at 12:16 AM

    50K is aboutright for Anacapri. It has some great benefits, but richer people like cars and cars are not yet allowed there. For the top levels of the highrise towers 45K is around the price but they go as high as 65K for some places.

    ReplyDelete

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