I've been living in Lohas Park (Capitol) for nearly 18months now. When we moved in we were one of the 1st and it was very quiet.
The main reason we moved here was because we could rent a 4 bedroom new apartment for cheaper than a 2 bedroom place in places like Ocean Shores.
When we 1st moved in lots of local people at my work told me how it would be very smelly, very wet/damp and there are no shops (which they would all find impossible to live without!)
Let me cover some of these (perceived or real) issues;
Smell - This seems to vary from the location of your apartment. We face the water and ar on a high floor. We NEVER get any smell in the apartment. However some friends who face the mountain/hills and are on a very low floor do sometimes get the smell with the windows open. Also should not that while walking in the area I'd say I've noticed about 5-10 days over a year when there has been a bad smell.
Wet/damp - This time of the year gets very wet. You'll need to use the dehumidifier to keep the apartment dry. You also get lots of days when you seem to be living inside a cloud. It also seems to be a few degrees cooler than places like TST / Causeway Bay / etc.
Shops - There is currently a welcome / mannings / estate agents / 7-11 / bakery / doctors / locksmith. If you want more shops you get off the MTR 1 stop earlier of you take a 5 minute MTR ride. Seems quite easy to me, but I gather some people have the need to go downstairs in there PJ's and go shopping!
So some postive points;
1. It's new, so apartments are new and you don't have to live in some other persons dirt / mess. For me this is very important.
2. Open space. There is a great private park where you can relax on a nice day and the kids love the wet playing area.
3. Club house. This is great with bowling alley / gym / indoor swimming / outdoor swimming / table tennis / snooker / etc and a great kiddies playing area.
4. Not too busy. It is still quiet here and you can walk from Lohas Park to Hang Hau in about 20 minutes and hardly see any other people. This helps me relax.
5. Views. Our current apartment has sea views from every room and at night time you can see the light show at TST in the distance (on a clear night!). I love this view and will miss it the most when we move (or when the new apartment buildings are finsihed in next 5 -10 years and you have no view!)
6. Price. It is still cheap. From $9K for a 2bed to $13K for a 4bed including all facilities. Show me where else you can rent a brand new apartment for the same price and I'd be interested to see how it compares.
Anyway, I suggest you come and have a look. the agents near the MTR will show you as many apartments as you want so you can get a feel for the place.