Park Island prices hit new record in 2011

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.

Comments

  1. AnonymousDecember 1, 2011 at 3:49 AM

    How is that a record? "Block 2 unit C, sold at $6323 per square foot" in November (means $5.78M) but if you look at past transactions, a similar Block 2, unit C and on a lower floor (16th floor) was sold on the 16th May for $6.38M !!!! to me it looks like prices have dropped about 10%.

    Prices have dropped and will keep dropping.

    However, I think Park Island is still a bargain. I mean around $6M or less for more than 900sq ft with full sea view? You cannot get anything like that anywhere else in HK

    ReplyDelete
  2. AnonymousDecember 1, 2011 at 3:56 AM

    Block 2, Flat C, high floor sold at $5.78M in November...however if you look at past transactions, on the 16th May, the exact same flat, on the 16th floor (Block 2, Flat C) sold for $6.38M.
    To me it looks like a 10% drop !!! Definitely not a record. Prices will keep dropping I think.

    However, I really think - after having studying the market in HK for a while - that to have a 3 bed, 2 baths, 915sq ft flat with full sea view in HK... $6M or less is definitely a BARGAIN.

    ReplyDelete
  3. AnonymousDecember 1, 2011 at 4:02 AM

    Block 2, Flat C, high floor sold at $5.78M in November indeed...however if you look at past transactions, on the 16th May, the exact same flat, on the 16th floor (Block 2, Flat C) sold for $6.38M.
    To me it looks like a 10% drop !!! Definitely not a record. Prices will keep dropping I think.

    However, I really think - after having studying the market in HK for a while - that a 3 bed, 2 baths, 915sq ft flat with full sea view in HK... $6M or less is definitely a BARGAIN.

    ReplyDelete
  4. AnonymousDecember 1, 2011 at 4:10 AM

    sorry, computer bug...think it crashed, then retyped it and got posted a few times

    ReplyDelete

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