Posts

Showing posts with the label Property Prices on Park Island

Property Prices on Park Island

Image
Below is a graph which shows the performance of Park Island property transaction prices over the last year, March 2010 to March 2011.


Based on this graph, from Centerline Property, one can see that transaction volume for Park Island apartment is around 10-20 sales a week. One can see that almost all buyers are "long term", holding the property for more than a year, rather than speculative "flip sellers".
One can see a clear trend of prices rising over the last year, with a spike in prices particularly in the last month.
The average price for a Park Island apartment, according to Centerline Property Data, is HKD $5800 per square foot. My casual observation is that sellers are asking around HKD $5900 to $6500 per square foot, depending on view etc, and that sellers of the "super apartments" (ie those with extra large balconies or rooftops) are asking around $10,000 per square foot.
I have heard, that the new phase of villas is being sold privately by developer …