Park Island, Ma Wan, Hong Kong

Park Island Tower Everyone on Park Island has an opinion on which tower is best, telling you x Tower is best as it get the most sun, faces the best direction, and so on. I personally prefer the outward facing apartments that have ocean views and these do command a higher price. Higher floors also mean a higher price. And apartments that have balconies tend to be higher priced than those without Some will prefrer certain towers that get more sunlight. Others prefer towers that get less sunlight. There is one tower that is closest to where they treat the serwage on Park Island, which might be slightly lower priced as a result of that location. This photo is the "prestigious" tower 5 Park Island. For a range of reasons Tower 5 apparently is the best tower on the island. It has the best location, apparently, from a Fung Shui perspective. It is the tower closest to HK island, so apparently "captures the wealth" from Hong Kong, and brings good fortune to the own...

Good news for those people who want a 24 hour taxi on Park Island. Up until now, taxis are only allowed between 8pm at night to 7am in the morning. It seems this is about to change The latest Park Island residents newsletter notes that the majority of residents polled in a questionnaire by the Transport Department voted in favour of permanent taxi access. Whilst it is accepted that permanent taxi access might increase property values by 5%, the concern some residents have is that more access would make the island less exclusive, and more accessible by non-residents. There also also those who feel taxis are no eco-friendly, and that we should continue to encourage only mass public transport such as the buses and ferries. It seems a decision will be made in the next few months. There was also some talk of putting an electric car charging station on the island and then letting electric cars and hybrids access the island. On another note, the sky over park island was full of ...

I thought it would be interesting to compare the official data with my own observations. According to the most recent Hong Kong Government Census data: -The average is 33 years old. This seems somewhat young to me, but I think the data must be skewed as so many people with children live on Park Island. With so many families with kids 1 to 10 years of age on the island, I think this must bring the average age well down. Also many air hostess live on the island, and they must range between 22-30 years of age, -The average employment income for Park Island residents is double the average for Hong Kong, and the average household income Park Island residents is triple the the average for Hong Kong. At first these figures seem a surprise. One would think that the wealthy people live in the Mid Levels in Hong Kong (and I am sure they do). But the reason why Park Island ranks well above average is probably because this is all private apartments (not Government housing) and probably because ...

There is an article here in Chinese http://hk.news.yahoo.com/article/101117/4/lb1q.html  which reports that a luxury apartment sold a few days ago on Park Island for over 10,000 per square foot at HKD $19.75m. The apartment is 1880 square foot, 33rd floor, block 31. It comes with an 800 square foot balcony, and access to the rooftop and fully open views. No doubt amazing for entertaining etc. This is a new record for Park Island, and to me confirms the changing profile of people who are moving to Park Island.

I got this article below from a property magazine in HK called Square Foot. It was published in 2008. I have made some additions of my own ( in bold italics). Background In the early days, most Park Island purchasers were investors looking to make a quick profit, but today 90 percent are buying for their own use. The property market is still behind that of other parts of Hong Kong but it is moving up slowly. My observation is that this is as correct in 2010 as it was in 2008.    By way of an introduction, for those not familiar with it, Park Island Estate on Ma Wan is best described as Discovery Bay's baby brother. It has also been described as "Like DB but more Chinese" and "Like DB but classier and cleaner". Brought into being by Sun Hung Kai Properties Ltd in 2002, it covers over 1.3 million square feet, and is now into its 31st phase. The final phase of apartments is due to be launched in Q1 or Q2 of 2011. After that, no further supply of apartments will be...

Park Island is connected by an excellent modern highway that connects to the Hong Kong Airport on Lantau Island, and to Kowloon and Hong Kong Island. See below Park Island on Google maps: To get to Park Island, you can use public transport such as a buses or ferries. Private busses also drive to Park Island (eg for school groups, or tours visiting the Noah's Arc). And service vehicles are also allowed (eg for furniture and goods deliveries). Originally, as part of Park Island's eco-friendly clean air policy, taxis were banned from the island. However on 3 July 2008, the Goverment made changes to the policy and decided to allows taxis are now permitted to enter from 8pm to 7am in the morning. Any resident living on Park Island has the phone number of a "discount taxi" that offers 15-20% off normal rates. Park Island does have the space for private parking, and so there is often speculation as to when (or whether) private cars will be allowed on Ma Wan. Many Park I...

For anyone considering buying property on Park Island, here is a website that the developer Sun Hung Kai used when they first launched the development. http://parkisland.com.hk/ The Park Island website shows the Park Island Club Houses, photos of views, information on transport to Park Island, and communmity actvities on Ma Wan island.