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Showing posts with the label hk property outlook

Park Island Property Prices, back to record highs!

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Here's where we ended up as we head to the close of 2016.

Prices rocketed up in the latter part of 2016 to hit new highs, primarily on buyers continuing to see the great value Park Island offers.
We are now at an average price of over $11,000 psf net, and over $8,500 psf gross. The attached graph shows gross prices.
What is the difference between gross and net property prices in HK? The "saleable area", or "net area", is the actual size of a home, including balconies. The gross price is the floor area which includes both the saleable area plus a share of the common areas, bay windows and facilities). So, if you are looking purely at a measure of internal space for property in HK, go by the net area (aka saleable area). See here for a more detailed explanation: Gross sqft vs Net sqft SCMP article.
Readers may be interested to see how where we ended in 2016 compared to my predictions and forecasted extrapolations for property prices on Park Island back in 2014 Predi…

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…