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Showing posts with the label HK property prices

Park Island Property Prices hit fresh highs

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Below is the latest Centa City Index price update for Park Island.

Prices now average at $9619.55 psf net, (and over $12500 psf gross).

Prices have followed a relatively constant growth trend since 2009.

I spoke to an experienced developer's daughter last month who told me that her family believe average prices will hit over 10K psf net by Chinese new year. (By the way, this also makes it very easy to calculate price. For example a 550 net psf average apartment price would be 5.5m HKD). She expected relatively solid growth of 8% per annum over the next 2-3 years, and indicated that she would only be concerned if overall HK prices spiked up something like 20% in a year, which would in turn lead to a further fear of missing out HK-style frenzy (which would in turn eventually lead to a bubble burst). China values social stability and so would ideally like to see contained but constant, non-volatile growth for HK in a way that keeps the majority of people happy she said.

We also disc…

Is the Hong Kong Property market back?

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There is a notable increases in agents and prospective buyers around this weekend, and the "buzz" of another possible period of property prices increases is definitely in the air. I would not say its a frenzy by any means, but definitely a notable stirring of interest and activity.
And as always, what seems to happen in HK so quickly, is that those sellers who had considered selling only a few weeks ago are putting their asking prices up in response to buyers who are now looking to get "back in", sensing that prices are moving back up.
Are we really back into upward movement in HK property prices? Possibly. 
Certainly, the outlook for interest rates increases is becoming increasingly subdued. A 25bps increases, whether it comes in December or some time in 2017 will be easily absorbed by the HK property market, except perhaps to some extent, the high end luxury market. 
Supply is still very limited, with the big increase in supply "promised" by CY Leung n…

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.

An update on Park Island property prices as we head towards 2016

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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 indi…

Park Island Property Price graph

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Here is the latest graph of Park Island Property prices, from Centadata:


My own view is that the graph seems to lag actual prices, but maybe is uses historical data 2-3 month old? Either way, the trend is up. Good for those in the market, but not good for those waiting to get in.

Any comments on property price outlook of Park Island is welcome here!