Park Island, Ma Wan, Hong Kong

The calculation of stamp duty when buying HK property is something many people are confused about. I was asked about this some time ago, and there was also a recent comment on this topic on my Park Island blog topic:  What will HK property prices do  suggesting that the current tax system on HK property made Park Island quite desirable in terms of value for money. I'll try to provide a guide to HK property stamp duty in a simple way for readers. First, you need to look at the value of the HK property you are buying.  Below are the stamp duties to pay on buying Hong Kong property. Legally, its the buyer who pays, although you can negotiate for the seller to cover some or all of it, but as far as the HK Inland Revenue Department is concerned the buyer must pay it: Amount or value of the consideration Rate Exceeds Does not exceed $2,000,000 1.5% $2,000,000 $2,176,470 $30,000 + 20% of excess over $2,000,000 $2,176,470 $3,000,000 3% $3,000,0

Yes, with beaches surrounding Ma Wan, there certainly are a few good beach shots worth sharing:

Yay, we have a new place for pizza on Ma Wan!.They are getting great reviews from residents and I can't wait to try it! They also serve authentic Indian cuisine. Mario's Pizza Phone Number:  +852 2976 5077 Address:  G/F, No. 37, Tin Liu New Village, Ma Wan, New Territories,  Hong Kong Little Mario's Pizza, Park Island, Ma Wan, HK The Little Mario's Pizza Team

The Facebook Group for Park Island  Park Island Facebook Group  (called "The Ma Wan Network) has grown into a great social tool and bulletin board for Park Island residents since it was first started. Among the various (and numerous) posts of second hand baby prams for sale, toys, musical instruments, crockery, unwanted food items, furniture, books, etc, and among heated discussions about topics like whether prams should be allowed on buses, and passenger etiquette on Park Island public transport (ie, the ferry's and buses to and from Ma Wan), there are some fantastic photos that have been posted that, as a collection, really capture the essence, beauty, and character of Ma Wan. As a group, Park Island definitely has its share of talented Hong Kong photographers, from amateurs using hand held camera phones, to those who are clearly professional and highly skilled artistic photographers with a real eye and craft for capturing amazing shots.. The Park Island Facebook G

The Tsing Ma Bridge is spectacular, not just from a design and engineering perspective, but also when viewed from multiple angles, both day and night. At night the bridge is lit up with soft-toned lights in a range of mellow colors, making it lovely structure to view, whether from the beach or from one's balcony (if you are facing that direction). 

For some reason, Park Island residents have captured some amazing photos of lightening. Although lightening can be spectacular to view from Park Island apartments, I'm not sure if this collection of photos is due to the many skilled photographers we have, or whether this is a phenomenon across HK, or whether it just chance, but in any case, here we go! This photo of lightening taken from Park Island is stunning! Boom!!!

There is a notable increases in agents and prospective buyers around this weekend, and the "buzz" of another possible period of property prices increases is definitely in the air. I would not say its a frenzy by any means, but definitely a notable stirring of interest and activity. And as always, what seems to happen in HK so quickly, is that those sellers who had considered selling only a few weeks ago are putting their asking prices up in response to buyers who are now looking to get "back in", sensing that prices are moving back up. Are we really back into upward movement in HK property prices? Possibly.  Certainly, the outlook for interest rates increases is becoming increasingly subdued. A 25bps increases, whether it comes in December or some time in 2017 will be easily absorbed by the HK property market, except perhaps to some extent, the high end luxury market.  Supply is still very limited, with the big increase in supply "promised&quo