Living on Park island (Ma Wan)

[randy1]

Randy1....
I chose TST area because of the more convenient location. Not all of us get to work on the white sands and clean beaches of PI everyday, and some actually need to travel frequently within HK and china for work.

As for air quality, obviously PI is slightly better, emphasis on slightly.

That being said, my place in TST is now 20 mins to office, and everything else is within a 5-10 min walk. The PnS downstairs from me seems about on par with PI, but I now have more options such as city super and 360, both of which are much larger, more to offer, and the lines are rarely ever bad since they typically have more then 2 cashiers open during rush hour.

In addition, I have access to tons of shops and restaurants that offer varying quality/pricing, which is better then PI's which can be counted on a single hand.

I no longer need to take a 15-20 min bus or 15-25 min ferry to reach civilization, or access to real transportation and shops.

I can now utilize a taxi at any time of day to get to/from my home if needed. Otherwise I'm smack in the middle of 3 different train lines.

The size of my flat is same as PI, and I still have a nice pool and gym and other clubhouse facilities. I still have a great view of Victoria harbor. So really I only lost the beach, which honestly is not a good beach anyways, and I gain a million times more convenience.

What does that cost me? A fraction of what you are paying in PI, and around 30% more then I was paying.

So again... If you choose to like PI, feel free to. We have friends on the island who like it too. Me, and many others I've talked to do not like it. I won't get into specifics of piss poor architectural design of PI, or the operations and services they run. But as I said before: I just want to make sure people reading this thread get both sides of the story... One from someone who has lived here for over 5 years, and one from an agent/seller.

Enjoy your stay here on the PI, and be sure to update me in 5 years to see if you still like it or not. Some do, some don't.

2 questions.

1 -do you still plan to buy? (and if so, where?)
2 - have you made a list of things that you don't like about TST (and if so can you post it up here?)

On the second point, sometimes the grass is greener on the other side, if you know what I mean. You sound like a person who doesn't like crowds, likes clean air and an absence of pollution etc, so I must say I found TST a suprising choice, and am interested to hear your likes/dislikes. Also, did you consider any other locations other that TST?

[randy1]

Bender? Any response???

[BenderBends]

Randy... I really am not interested in switching this thread into a discussion on TST.

Furthermore... I just moved into the TST flat and would prefer to have more time before I post raving reviews of my building and strong suggestions For others to buy up all thats available and start listing my daily journal.

I think we both said our points on PI. You love it like an only child based on your initial impressions and I'm happy for you. I on the other hand began loving it and over 5 years slowly began hating it more and more. To each their own.

[randy1]

OK - thanks - well please do post your views once you have some time to asses how you like living there. You can post it under a different thread title if you like.

How about buying - do you plan to buy in TST? Or somewhere else in HK?

[MovingIn07]

Bender - I think you have a stalker......

[randy1]

Bender - I think you have a stalker......

Yeah - 1 groupie (MovingIn) and 1 stalker - me...

Exciting times in the world of GeoExpat cyberspace....

[BenderBends]

As mentioned before... I do plan on buying once prices come down. I also would be buying for investment purposes, and therefore am open to many areas that show positive potential in future development. And no, PI does not show any positive development with residents in mind, and therefore you are banking on success of nearby tourism and market trends (both of which I think will not hold up much longer).

Finally.... No, I don't need a realtor agent to contact me either, so please no solicitation Randy.

[randy1]

Trust me Bender -I am not an agent. But if I was, I don't think I would bother trying to get you as a client! I get the sense it will be a while before you are buying anywhere, and I also think you would be a very difficult client for any agent to please!

Or are you referring to another form of "solicitation"???. If so, please don't flatter yourself - if the name "Bender" is suggestive of your persuasion, believe me, that's not my kind of thing ....

For areas to buy in HK that show potential, I would suggest you consider Sheung Wan or Kennedy Town. Probably not your thing (too crowded etc) but investment wise these areas look good to me.

Bear in mind that the Sai Wan MTR station is coming, and the new Western Mid Levels esculator is being built. I expect prices will rise on the completion of these, so I would suggest buying before those constructions are completed.

[TheBrit]

.. and try to ignore that purchase prices are so out of line with rental yields that Hong Kong is the second most overpriced country on Earth. If you manage to close your eyes, mumble "waaaawaaaaawaaaaa" you might be able to block out the feeling you are paying a lot more than a property is worth on any valuation metric.

[randy1]

I have to add to this thread to say that Randy really is right about the 'buzz' there now. It seems like suddenly everyone wants a piece of the place. I've been trying to buy there for a while and it's been quite tricky with little supply for the demand there, and the landlords seem to know this and be pushing their prices up weekly as a response. Anyway, I succeeded this week thankfully. Got there in the end!

Kryzlowski is right. Take a look at the attached graph which shows how prices are steadily moving up, and really starting to go up more in the last few months especially. I am about to buy (even though I will need to end my current lease early).

All I can say, as a person looking to buy, is that prices are going up. Even since I started looking it seemed prices were rising, so I now will act quite deceisively. I have finance lined up, so just need to find the right apartment at the right price now.Anyone on the island can tell there is a feeling about of many new people coming over from HK who suddenly want to be here.

So, whilst Bender and the Brit etc will likely tell me prices are too high to buy I am about to buy anyway, as I believe prices will keep rising (not just on Park Island by the way, but all over HK) for quite some time.

The reason I will buy on PI is that I like living there (and also as I think its a really good long term investment as the rest of HK gets more expensive, and more crowded) and I feel its much cheaper to buy now than to rent and give all the money to gready landlords.