An update on Park Island property prices as we head towards 2016
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 that time, providing an indicative price increase trend line. See here:
Let's compare how the graph that I posted at that time compares to reality. Below is the current price graph for Park Island, including the year that followed my prediction in 2014.
|Park Island Price graph August 2015|
In the trend lines I posted in 2014, I plotted both a "high growth" and "low growth" trends.
As you an see from the up to date 2015 price graph, prices increased at slightly above the "low growth" trend line.