Showing posts with the label Hong Kong property forecast

Park Island apartments hit record highs (again)

My last post, park island property prices hit fresh.high, published in November 2017 noted that the price of property for sale on Park Island has followed a relatively constant growth trend since 2009. 
At that time, prices for Park Island apartments had just hit a fresh record level of $9619 psf. Today, prices are around 5% higher, at $10,085 psf (not just for Park Island but for the Hong Kong property market in general).
The most recent property price graph, along with my "back of the envelope" doodles, show where prices might go over the next 4 years. A price level of $13,000 psf by 2022 is certainly not out of the question.

As I have mentioned in previous posts, with every year of rising GPD in China, there is an increased cash-pile and consequent increased purchasing power, from the world's second largest economy, with over 1 billion people and a rising middle class, all of whom aspire to own property. 

Hong Kong is already a very densely populated city, with limited la…