By: Letizia Casalino, Hong Kong Sotheby’s International Realty
Infrastructure development brings fresh opportunities. The three new MTR stations that have been opened this year extending the Island Line to Kennedy Town bring with them big changes for the surrounding areas.
The effect is clearly seen in the residential, industrial and commercial property markets. Property prices are swiftly rising due to a new influx of residents wanting to move towards convenient transportation hubs. New premises are being developed and old ones upgraded to satisfy the new demand. Restaurants, pubs, shops are being revitalised too, with new venues opening in the up-and-coming areas of Sai Yin Pun and Kennedy Town. More visitors – and new residents – are being attracted from all over Hong Kong.
With the strong first-hand sales market, and developers pumping investment in and revealing the many new projects they’ve been keeping up their sleeves, Hong Kong has seen a steep increase in the number and price of closing rates and selling prices.
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So what exactly are we after? A larger space in an “older” building? Or a brand new unit with an extravagant lobby and new technology to assist in switching on and off the lights? This question has been raised in many industry discussion. The other important question is: Will these premises be for own use or investment?
Whatever the outcome, the Western District has been a hot bed of activity and excitement in the first quarter of 2015 and will continue to bring new vibrancy to the traditional areas into the year.
Hong Kong property listings: apartments for rent and homes for sale
Charming Colonial Apartment
District : Tai Hang
Sale price: HK$23M
Size: 1,364 sq. ft
Bedrooms: 2 (1 ensuite)
A bright, airy apartment with living and dining room extending to a balcony through French doors, and a spacious master bedroom that can be easily converted into two bedrooms. The bathrooms have been renovated and the kitchen is fully equipped.
Spectacular Stylish Residence
District: The Peak
Rent price: $188K
Size: 2,545 sq. ft
Bedrooms: 4 (2)
Features include beautiful French windows and high ceilings, spacious front and back terraces with two balconies, and an open-style kitchen with an island and high-end appliances.
Huge Village House
District: Tai Po
Sale price: $10.8M
Size: 2,100 sq. ft
Bedrooms: 5 (3)
A beautifully renovated open-plan village house with an in-deed garden and rooftop. Best location in Lam Tsuen.
Stylish Seaside Retreat
Sale/Rent: $65M / $120K
Size: 1,656 sq. ft
Bedrooms: 2 (2)
A one-of-a-kind flat in a small and quiet residence. Two beautiful decked terraces lead off the living room and second bedroom, while the bathrooms are modern and deluxe and the kitchen is fully equipped.
District: Causeway Bay
Sale price: $13.9M
Size: 624 sq. ft
Bedrooms: 1 (1)
An impeccably renovated unit with great attention to detail throughout, and stunning views over Victoria Harbour. Must be seen to be appreciated!