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Showing posts with the label Centa-City Hong Kong Property Index

Park Island property prices hit a record high end of August 2015

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Park Island property prices hit a new record high end of August 2015.

Below is the most recent graph:

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.

What will Hong Kong Property Prices do in 2015?

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Well, if we could accurately predict the future we of course would all be retired millionaires by now. But I think a very basic question Hong Kong property investors have to be asking themselves is what is the outlook for Hong Kong property prices in 2015. 
On the one hand we have strong demand for property, and very low interest rates. On the other hand we have cooling measures in place, the possibility of interest rates rising, and among other things, political unrest in Hong Kong due to the Occupy Central movement, and the desire of many Hong Kong citizens for true democracy.
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 proper…

Centa-City Hong Kong Property Index.

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A few people have emailed me noting that according to the Centa-City Hong Kong Property Index, Park Island was the largest gainer in terms of price increase over the last month. I have checked to confirm this and it seems to be correct.

Here is a snapshot of the overall Hong Kong Property market price graph:
And here is the data for Park Island property prices:

As we can see, Park Island prices jumped a massive 16.02% over the last month.

Transactions for Park Island are at a yearly high for the month of July already (according to agents I have spoken to), and July is of course still has a few weeks to go, so it seems July will have the largest volume of monthly transactions over the last year.

Basically what has happened is that the standoff between sellers who refused to reduce prices in light of cooling measures and increased stamp duty, and buyers who refuse to buy due to these increased transactions costs, has ended. Buyers, it seems have decided to grin and bear it, buying now …