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Showing posts with the label is now a good time to buy property in HK?

Centa-City Hong Kong Property Index.

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A few people have emailed me noting that according to the Centa-City Hong Kong Property Index, Park Island was the largest gainer in terms of price increase over the last month. I have checked to confirm this and it seems to be correct.

Here is a snapshot of the overall Hong Kong Property market price graph:
And here is the data for Park Island property prices:

As we can see, Park Island prices jumped a massive 16.02% over the last month.

Transactions for Park Island are at a yearly high for the month of July already (according to agents I have spoken to), and July is of course still has a few weeks to go, so it seems July will have the largest volume of monthly transactions over the last year.

Basically what has happened is that the standoff between sellers who refused to reduce prices in light of cooling measures and increased stamp duty, and buyers who refuse to buy due to these increased transactions costs, has ended. Buyers, it seems have decided to grin and bear it, buying now …