Park Island, Ma Wan, Hong Kong

Park Island property prices hit a new record high end of August 2015. Below is the most recent graph: Park Island Property Prices Hit A New High If you look at the end of the graph, you will see a massive 10.86% jump in prices over the last month. Below are the current average prices (gross PSF and net PSF): The data is taken from   Centadata HK property price data  website (which is the same source I have primarily used in previous updates).  For Park Island property owners who have been agonizing over recent stock market losses, take some comfort that at least your property investment continues to rise in value.

Let's take a look at how prices of property in Ma Wan / Park Island performed this year so far. A year ago, in August 2014, I made a prediction as to where prices for Hong Kong property might go, in my post:  What will Hong Kong property prices do ? In that post, I wrote the following: "If I had to make a guess I would think that overall, prices will keep rising in 2015 in Hong Kong. I can't see interest rates rising at all until late 2015, and even then they will rise only very very slightly, if at all. Property cooling measures are very unlikely to be increased, and they are more and more being "priced in" which means that eventually, when they are removed, the removal of property cooling measures in Hong Kong will be very supportive of property prices. All in all, the factors going forward, weighed up, point to quite decent property price growth for Hong Kong next year." It turns out I was spot on the mark. I also included a graph at...

Some cool photos here that were recently uploaded onto the Ma Wan Network Facebook page.  Would have been scary being on the bridge at the time the bolts hit. If you are the photographer of these great pix let me know and I will acknowledge you. Lightning hits the bridge over Ma Wan Picture of storm over Hong Kong

Someone posted this on the Park Island Facebook Page called The Ma Wan Network. Not sure who took it, but I love the photo. The photographer clearly has some talent. The calm before the storm... (c) 2015 Angela Poon-Higasi

As promised, here is an update on the discussions I have had with the Hong Kong Planning Department and the Hong Kong Transport Department. First, below is the actual response I received in relation to submissions and inquiries related to allowing access and car parking for private cars for Park Island residents.  This office has consulted Transport Department on your proposal. T his email serves as a coordinated reply by Planning Department and Transport Department. The construction of the Airport Core Projects had impacts on the planning for Ma Wan. The Hong Kong International Airport at Chek Lap Kok is about 12km to the west. The Lantau Link, which is the major transport link between Lantau and the urban area, passes over Ma Wan. Ma Wan is located at a prominent location along the Tsing Ma and Lantau transport corridor and subject to traffic capacity and infrastructure constraints. Comprehensive planning and control on development on the island with due regard to ...

After the tragic death of a much loved Ma Wan resident who was hit by a bus, I re-wrote to the Transport Department, telling them that I had previously suggested speed humps be installed due to fears someone would be hit by a speeding bus. Below is their reply, which demonstrates bureaucratic incompetence and laziness at its worst. Regarding your above case, the Transport Department has replied as follows – "The suggestion of installing road humps could be a hazard to passengers inside a bus. If physical barrier such as a road hump is introduced on the road surface, the sudden bumping of the bus as experienced by the passenger, for instance a pregnant woman, could cause harm and discomfort. It is therefore not Transport Department's practice to install road hump on public roads particularly where public transport is served. Transport Department will continue to closely monitor the traffic condition of the roads on Ma Wan and consider implementing necessary improvement meas...

White Noise I posted a clip of an earlier gig of theirs here:  White Noise

Air pollution is an issue across Hong Kong, and is one reason why people move from parts of HK with heavy car traffic and the wall effect caused by large connected buildings, to cleaner locations like Ma Wan. However, even though private motorvehicle traffic on Ma Wa is quite limited, all of us in HK have the further concern of pollution from ships in HK using so called (lower quality "bunker fuel"). Indeed, Cargo and passenger marine vessels are the biggest source of toxic sulphur dioxide in HK., and we can see some of these ships in the distance from our homes on Park Island. Improving the emissions standards of ships in HK waters was something called out by CY Leung in his most recent HK policy address. The good news is that a new regulation was tabled in HK today, requiring all ocean going vessels to switch to cleaner fuel whilst in HK waters, with the law proposed to take effect on 1 July 2015. This can only be positive for both Park Islanders, and HKers in ge...

Last week, prices on Park Island for the first time ever broke through an average of HKD $10,000 psf (per square foot), coming in at $10,218 psf (net) for the week ending 6 March 2015. Here is the most recent CCI Property Index graph for Park Island: Park Island Price Graph 2015 Note that the graph above shows gross prices  (ie the price calculation that was formerly used in Hong Kong, which included external space, lift lobby, fire exits etc). The price that is now used in Hong Kong is a  net price (ie only the internal private space of the apartment itself) Gross prices also hit a record high, coming in at $7,865 psf. The $10,000 psf price is something I predicted in the post  Centa city Hong Kong-Property Index  would happen early in 2015. I think its likely prices will continue to increase, based both on continued historically low interest rates as well as mainland monetary easing leading to more cashed up Chinese able to invest in Hong Kong pr...

I was sent this picture of a picnic on Ma Wan which appeared in a local HK newspaper. Looks like it was taken outside of Cafe Roma. Picnic on Ma Wan