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Showing posts with the label Park Island apartment prices

Park Island property prices.

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"What's the Hong Kong property market going to do"?
That of course is the question everyone wants to know. And if we did know, we could of course all be very rich!
No one can predict with 100% accuracy what the market will do. But what we can do with 100% certainty is look at historical data.
The graph below shows Park Island apartment prices over the last year.
The line in blue is the average price per square foot for Park Island apartments, plotted on a weekly basis over the past year. And line in red is the 12 month moving average line.
Those who argue that "the market has turned" will point to the apparent decline in prices for transactions over the last few weeks (as shown by the last dip in the blue line).
On the other hand, others will argue that the rate of price increases has been steady and constant over the year (as shown by the constant rise upwards of the red line).
My own view is that we are in for continued long term prices increases, and that the tren…

Park Island apartment prices hit a new high

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I just checked out the latest prices for Park Island transactions. The graph from Centadata is here:

According to Centadata, which is the data published by Centerline Property, prices are up 5% so far this month. They list an average price of $5995 per square foot, which seems low to me, when you look at current asking prices which seem to be on average around 6500-6800 per square foot, and around 12000 per square foot for the top floor penthouses and luxury apartments on Park Island.
Also interesting to note is the transaction volume in the graph. The data reflects what agents have been saying, which is that this month has been quite active. With around 10 days to go before the month ends, it looks like monthly transactions for June apartment sales will have been quite healthy.