30 November 2018 - The much-anticipated Hong Kong-Zhuhai-Macau Bridge officially opened to traffic on 24th October—Hong Kong, Zhuhai and Macau have now become even more connected. With shortened travelling time between the three cities, the bridge marks an important milestone in creating the “one-hour life circle” in the Greater Bay Area. The Hong Kong port is in Lantau, close to several tourist attractions such as Ngong Ping 360 and the Big Buddha. The opening of the bridge attracts crowds of mainland visitors, giving a huge boost to retail sales and at the same time bringing golden opportunities to the property market nearby.
Tung Chung is close to the entrance of the bridge. Together with the proximity to the airport and excellent transport link, properties in the area have been popular with mainland Chinese buyers. The opening of the bridge is just icing on the cake. Properties around Tung Chung Station are expected to attract even more mainland Chinese buyers in the future.
Tung Chung now fully connected
Tung Chung is close to the airport. Properties in the area have been favoured by renters who frequently travel to the mainland or internationally through the airport. Now travelling to and from the mainland has become even more convenient, the rental market in the area is expected to become more active. There are abundant of private properties around Tung Chung Station such as the Caribbean Coast and Tung Chung Crescent, offering a large number of available rental properties. In terms of rental prices, as the Tung Chung Station is a transit point for the bridge, it may be more appealing to mainlanders who work in Hong Kong. The influx of people will likely lead to a rise in the number of rental transactions, which could be the key incentive that drives up rental prices in the area.
Construction of the Hong Kong-Zhuhai-Macau Bridge started in December 2009 and was in operation for nine years. The CCL index that reflects the trend of second-hand home prices in Hong Kong recorded at 73.23 at the end of December 2009, and the latest number last week had risen by 1.5 times to 182.73, reflecting the impact of the Hong Kong-Zhuhai-Macau Bridge on property prices. A high-floor apartment at the landmark development Caribbean Coast in Tung Chung was recently sold at around HK$12,208 per square foot, tripled from the average price of around HK$4,000 per square foot in Tung Chung at the end of 2009.
The bridge will also benefit South Lantau and Discovery Bay
Apart from Tung Chung, its neighbours South Lantau and Discovery Bay also benefit from the opening of the bridge as they are both adjacent to Tung Chung and the airport. Although it seems quite a long way away from Hong Kong Island, the transportation to and from Discovery Bay is pretty convenient indeed. It only takes 30 minutes by bus from Tung Chung town centre to Discovery Bay Plaza. There are many low-density housing developments in the area such as Positano, Chianti and Amalfi – all overlooking the beautiful shores of Lantau Island. It also only takes 30 minutes to get from Discovery Bay to IFC and Central by ferry. There are international schools and clubhouses in Discovery Bay, attracting a large number of expat residents. Discovery Bay is situated to enjoy the advantages of improved transport links. It is expected that the number of visitors and residents will only go up, not down - certainly an investment option worth considering.
This beautiful 1-bed apt comes with a large terrace and garden, so that residents can enjoy the stunning sea view while having BBQ parties or gatherings! It also includes a climatised large wine storage unit adjacent to the decked terrace, plus a well-equipped open kitchen with Smeg appliances, an enlarged bedroom with built-in wardrobes & study area.
This 3-bed duplex in Positano has a net saleable area of 1,469 sq.ft. Its spacious living area opens out to a large private pool in the garden, and a balcony where you can enjoy panoramic views of Discovery Bay and the sea. Positano is a low-density development built only four years ago, and is just a short walk away from the Discovery Bay North Plaza with many restaurants and a supermarket.