Showing posts with the label will cars be allowed on Park Island

24/7 taxi access is coming to Park Island

In my last post Tung Wan Beach to be widened, I reported the good news that the main beach on Ma Wan, used by Park Island residents, is going to be significantly widened with plans for an even wider flat sandy beach. 
I now have some further good news to report, this time regarding transport on to Ma Wan!
The Tseun Wan District Counsel has just recommended and approved a further easing of transport restrictions to Park Island for taxis. I can confirm that the recommendation was also approved by Hong Kong's Transport Department.
It appears that the transport department has approved two major changes.
First, taxi access will be opened up to Park Island for weekends as well as weekdays. The hours of access will be extended such that taxi access will move towards an eventual 24/7 schedule.
I think the relaxed restrictions will be welcomed by mothers with kids and prams, and late night revellers returning from Central alike.
Secondly, the taxi operation area will also be extended from the ro…

Park Island Property Prices - new records set for "small sized units".

According to agents on the island last week was a busy month, with lots of enquiries from potential buyers.
I was sent the article below by a property agent on Park Island:
In summary, the article reports that  "small size apartment" sales broke record twice within the last month.
Park Island, Block 17, Mid Floor, Flat G
Size 449sqft
Price sold 3.12M ($6949 per sqf)
The owner brought in 2010 $2.45M and how now sold earning $1.33M up 54.8%.

According to the agent, the seller is now looking at buying a larger apartment on the Park Island. My comment on that is that whilst it appear the seller made a good profit, the larger apartment will of course also have risen in price, so from that perspective his "relative gain" may not actually be that much, as apartment prices everywhere (not just on Park Island) have risen substantially since 2010.

Some of these "small size" apartments were originally given to villagers from Ma Wan as part of the development deal with Sun …