Park Island, Ma Wan, Hong Kong

It seems to be a trend among expats with money to buy two apartments in Park Island, and then combine them into a single unit. I took a look at a combined unit in Block 16 today, which was two units of 750 sqft each, making 1500 sqft in total. I must say, the living room is huge, and what you then get is 4 bedrooms total (two on the left and two on the right, with the big living room in the middle). You also get two bathrooms. You do however get two kitchens, which you can either keep, or you can convert one kitchen into another bedroom, or a maids room, or a storage room. Some photos of a combined Park Island apartment: A Park Island apartment with two units combined Combined apartments Two apartments knocked into one creates a lot of living room space A spacious Park Island apartment This particular apartment is for sale at 9.3m, but I think 9m could probably get it.

Believe it of not, the two most recent sales for November for Park Island hit record prices. An upper level apartment in Block 17, unit J, sold at $6295 per square foot on 25 November 2011. And an 23 November 2011 an upper level apartment in Block 2 unit C, sold at $6323 per square foot. Really quite suprising given the current turmoil on the global financial markets. Rentals still seem to be between $17 to $20 per square foot range.

Park Island Sunset I took this photo of the sun setting over Park Island last night. What great weather we have had this month in Hong Kong!

Sad to hear the news that Tommy's is indeed closing, having been squeezed out by higher rents demanded by the landlord upon renewal of the lease. Let's hope its not another real-estate agency that takes up this location. I have heard that the dim sum lady just down the road might take the spot. Tommy meanwhile will now do something in the evenings at the location of their other shop near the ferry that right now does takeaway breakfasts, sandwiches, coffee, etc.

I recently spoke to a Hong Kong politician who told me, he had it "on good authority" that there would be car parking on Park Island once the Tuen Mun Chek Lap Kok link was completed. I was not sure what the Tuen Mun Chek Lap Kok link was, so I Googled it, and obtained the following details: Tien Mun Chek Lap Kok link The proposed Tuen Mun – Chek Lap Kok Link and Tuen Mun Western Bypass will provide the most direct route between the Northwest New Territories (NWNT) and Lantau, joining the Kong Sham Western Highway, the port back-up areas in the NWNT, the Tuen Mun River Trade Terminal, the Ecopark, the Hong Kong – Zhuhai – Macao Bridge Hong Kong Boundary Crossing Facilities, the Hong Kong International Airport (the Airport), the proposed Lantau Logistics Park and various North Lantau developments. Upon completion, the new route will significantly reduce the journey time between the NWNT and Lantau. The Project will release some capacity of the existing roads such as Tu

I noticed the possible redevelopment of the Ma Wan old village area is being discussed among Park Island expats on the Ma Wan Network Facebook Group. It seems that the old village will likely be developed with low density housing (ie 3-level villas or houses) and commercial, recreational and tourism facilities (my guess is perhaps a hotel, marina, restaurants along the beach, etc). See below some details about what may be coming: Draft Ma Wan Outline Zoning Plan approved. The Chief Executive in Council has approved the draft Ma Wan Outline Zoning Plan (OZP). "The approved OZP provides a statutory land use planning framework to guide the development and redevelopment within the Ma Wan area," a spokesman for the Town Planning Board said today (June 12). The Planning Scheme Area covers about 101 hectares of land comprising Ma Wan and Tang Lung Chau. Ma Wan is situated between Tsing Yi and Tsing Chau Tsai Peninsula in northeast Lantau, about five kilometres from Tsuen Wan

I took a few photos of the new Park Island Villas on Ma Wan yesterday. As I wrote earlier, it seems they are being spruced up for promotional launch. An agent I spoke to today told me he has heard they will be priced at 22,000 to 25,000 per square foot. Apparently they will also be given a special name. Ie, not Phase 6 Park Island, but something more prestegious sounding such as Ocean Villas, for example. Park Island Phase 6 Villas Meanwhile, it seems Park Island property prices again hit a new high, although transaction volume remains low. See below the latest price trend graph from Centerline. Centerline price graph