Showing posts with the label park island transactions

Park Island Property Performance Summary for 2011

Well as the end of the year approaches, lets see how Park Island fared in terms of property prices compared to the rest of Hong Kong. 

The lower line on the graph shows the average performance of all Hong Kong properties over the 2011 year. As you can see Hong Kong prices rose around 10% in the first 4 months of 2011, and then stayed pretty much at the level for the rest of the year.
Park Island prices (the upper line on the graph) rose continuously for the the first 6 months, up around 20%, and then remained at that level for the rest of the year.
Transaction volume (the bottom bar graph) dropped noticeably over the last 6 months of the year both for Park Island and for Hong Kong generally.
My predictions Hong Kong property prices in  2012.
1 - The Government will ease off a little on the measures that caused transaction volumes to become so low. Property agents are hurting, and so I expect property transaction volume will be 20-30% up from the lows we have now.
The effect of th…

Park Island apartment prices hit a new high

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.