21 December 2016 - As of September 2016, month-on-month appreciation of Hong Kong real estate prices as a whole have risen by 9.93%. This is reflective of a 4.03% price depreciation of Hong Kong island properties, a 5.14% price increase in the Kowloon property market and a 22.80% surge in New Territories or Outlying Island property prices.
Hong Kong Island is administratively grouped into Central and Western, Wan Chai, Eastern and Southern districts. Breaking down housing prices by district, property valuations have gone up by 2.35% (Central and Western), 2.31% (Wan Chai), 2.32% (Eastern) and 2.08% (Southern) respectively.
In terms of prominent property listings within the aforementioned districts, 39 Conduit Road in Mid-Levels records the highest price valuation of HKD47,254 /sq.ft in the Central and Western district. In respect to average prices per square foot for larger developments in the district, Winner Building in Central and Queen’s Terrace in Sheung Wan were valued at HKD17,903 and HKD16,669 /sq.ft.
In Wan Chai, though property prices have appreciated by 2.31%, price levels are noticeably subdued when compared to the Central and Western district. Prominent property listings which include The Legend and Beverly Hill which amount to HKD23,858 /sq.ft and HKD19,813 /sq.ft in terms of highest price valuations respectively. In respect to average prices per square foot, The Zenith is valued at HKD17,190.
In the Eastern district where property prices have appreciated by 2.32% and the Southern district (2.08%), prominent property listings which include Taikoo Shing and Residence Bel-Air tally at HKD18,957 and HKD21,630 /sq.ft in terms of highest price valuations. In respect to average prices per square foot, Kornhill in Quarry Bay is valued at HKD13,027.
Over on Kowloon side, property prices in the Yau Tsim Mong district appreciated by 2.57%. The Long Beach near Olympic Station recorded the highest price valuation of HKD15,752 /sq.ft. Whampoa Garden in Hung Hom amounts to the average price of HKD12,286 /sq.ft.
The Shatin district as a whole appreciated by 2.48%. Highest price valuations per square foot include City One Shatin (HKD12,057), The Palazzo (HKD18,504) and ‘Chelsea Court’ (HKD11,625). In respect to average prices per square foot, City One was valued at HKD12,316.
Property prices on the Outlying Islands appreciated by 2.34%. Caribbean Coast’s highest price valuation is HKD7,543 in Tung Chung, Discovery Bay on the other hand reached HKD38,636.