Property update
Stock markets have been very volitile, and further there will apparently be an announcement on Wednesday about the HK Government providing some more low cost housing for people on lower incomes.
Agents tell me that property sales transactions have been very low over the last month, although the very few that did take place seem to have been at "record prices". There have however been more people renting, and it seems the standard asking price is now $20 per square foot, per month.
rent at $20 per sq. ft ... strange that it's very different from what I've read from the estate agent websites or the gohome.com.hk
ReplyDeleteanyway, I guess I'm lucky to get mine at $15 per sq. ft ... perhaps that's because i can speak chinese.
Hi Teresa - when did you get your lease? I suspect it will be up around $20 on renewal. Or do you think it will be less? If you are lucky, your landlord will see you as a good tenant, and maybe will not increase the rent too much on renewal.
ReplyDeleteYou can't trust the websites though, they lure you in with lower prices and then you get there and its 'oh sorry, rented/sold out', maybe the difference of $15psf - 20psf is due to the time period, I've personally found prices can change week to week.
ReplyDeleteYou should change your agent !!!!
ReplyDeleteIf you look at Centaline's transaction data for October 2011 the PI rental amounts are.
2 @ 15 per sq ft
1 @ 16 per sq ft
4 @ 17 per sq ft
2 @ 18 per sq ft
1 @ 19 per sq ft
1 @ 20 per sq ft
1 @ 22 per sq ft
The 19 and 22 were for the small flats (< 500)
As Teresa says even the asking prices on gohome.com.hk are less than 20
And its all in English...
regards
John
What r u talk abt? We r looking at everything on PI is above 20 a sqft. The stuff on gohome is either outdated or designed to lure you in, and then once you start looking you will see the true prices are higher.
ReplyDeleteYes, Park island apartment are nice, but they are not as cheap now as you might think. Mid levels is around $30 to $40 per sqft, and Park Island is $20 to $25. That's a fact, based on me who is looking at options now.
Angus, go here
ReplyDeletehttp://hk.centadata.com/ephome.aspx
Select NTW> Ma Wan/Park Island
Click Park Island
Neat the top you can see "Latest Transactions"
You will see all Centaline rental transactions since July - these are actual rents and not asking prices
The most recent 2 are
B Lower Floor BLOCK 1
PHASE 3 PARK ISLAND Centaline was transacted on 10/10/11 (Lease)$17000 981s.f. Unit Price: $17
B Upper Floor BLOCK 13 PHASE 1 PARK ISLAND Centaline was transacted on 08/10/11 (Lease)$13000 754s.f. Unit Price: $17