Park Island, Ma Wan, Hong Kong

Interesting to read today that Sun Hun Kai (the developer of Park Island) is likely to price its new Tuen Mun project at a minimum of $13,000 psf. The development called Century Gateway is due for completion in the third quarter of 2013. It also appears that someone was a little naughty in advertising the development for sale before official approval had been granted. See the article here: Century Gateway Apartments for Sale If these prices are correct, it again makes Park Island look remarkably cheap. Sooner or later price arbitrage must take place, with Park Island coming up in price to other similar developments, of course taking into account all factors such as location, transport, schooling, facilities, etc.

Park Island prices are close to record highs, (but still very cheap in my opinion). Park Island Property Prices As you can see from the graph, prices on Park Island seem to be maintaining their gradual accent. The correction in October-December 2011 was I think due to the panic over Greece defaulting on its debt. As Park Island is very much end-user driven, rather then speculative, I think prices will continue, over time to steadily rise. Perhaps not as sharply as places like the Mid Levels during "hot" times, but also they will not decline as sharply during "cold" times.

Ocean view from Park Island Here is a quite impressive Park Island photo (I took from another website) of a night view from Park Island across the ocean. Really quite stunning on a clear night. If you are after an apartment in Hong Kong with ocean views, consider Park Island as a very  affordable option.

Some cool work done here by Layers Painting Workshop on a Park Island apartment. If you are interested in having something like this done call them to arrange a proposal (details below): EMAIL: layers@layerspaint.com CANDY: 9280 3250 ZOEY: 6108 4784 Layers Painting Workshop Apartment Painting Park Island Apartment done by Layers Painting Workshop

We have snakes on our island (and I'm referring not to the real-state agents, but rather REAL snakes). I took photos of this snake on Ma Wan beach on Saturday. OK, well its actually just the skin of a snake, but if that's the skin, I would hate to imagine the size of the owner of the skin! If anyone sees the actual snake, please send me a photo. I am not sure how big snakes in Hong Kong can get, but this was a big one. A Hong Kong snake skin A snake on Ma Wan beach A snake on Park Island beach Close up of the snake's head

Some photos from inside the Anacapri development on Park Island. Photo of Anacapri Lobby Photo inside Anacapri

Below is the price list for Anacapri on Park Island released today by Sun Hung Kai. The list is for the "middle apartments", which means those which are not ground floor with garden units, or top floor with roof units. Prices seem reasonable, and are priced at between 7000 to 8000 per square foot. So for a 1000 square foot apartment in Anacapri, you are looking at around HKD $7-8 million. Really pretty good value in my opinion, and lower that what I had thought they would be given the high quality of the development. Based on feedback from agents, it seems he top floor and ground floor prices are expected to be around 14,000 to 19,000 per square foot. Anacapri Price List Anacapri Price List Anacapri Price List from Sun Hung Kai I wonder what this relatively low pricing of Anacapri reveals about the Hong Kong property market? Property transactions are low in Hong Kong and for the time being, banks require 50% or more deposit at the moment for mortgages, which I...