Question: 

I am planning to purchase a property next year. Is it generally quieter at the beginning of the year? I also have my eye on the Park Signature in Tsuen Wan. I like having a terrace, but it seems impractical and expensive. Do you have any comments on this? What other good options are there nearby?

Jim Jim (18/12/2008)

 Webmaster Answer: 

It is undeniable that the period from Christmas to Lunar New Year is traditionally a slow season for the property market, and combined with the impact of the financial crisis, it is normal for market trading to be quiet. However, as this is the traditional low season, it does not mean that there is a lack of confidence in the market, so do not expect property prices to experience a sharp decline like they did in October to November this year.

 If you insist on purchasing a unit with a terrace, the only options within the area are   VISION CITY,  CAIRNHILL, CLIVEDEN, and   DYNASTY  Kai which is still under construction. ECAIRNHILL  and   CAIRNHILL  are medium-density developments, offering a tranquil environment, with a building age of approximately 6 years. However, they are located in the Cao Gong Tan area, which is less convenient in terms of transportation. The property prices range from @HK$3,400 to @HK$3,800

 Regarding the   VISION CITY  in Tsuen Wan, which you are interested in, it undoubtedly has the highest price per square foot compared to other properties in the same area. However, in terms of "specifications,"   VISION CITY  is the newest development in the area, and its facilities are the most comprehensive and luxurious. Therefore, the property prices naturally correspond to its quality since "you get what you pay for" has always been the market's law. Currently, the average price per square foot in this development ranges from @HK$4,400 to @HK$5,900, depending on the view and floor level.

 One thing to note is that the above-mentioned new residential estates have been constructed in recent years and they differ significantly from   LUK YEUNG SUN CHUEN ,  BELVEDERE GARDEN, and even   DISCOVERY PARK , which have been established for one or two generations. The target market is clearly different, and there is also a significant price difference, making direct comparison difficult. As for the issue of utilization rate you mentioned, the current new residential estates have features such as balconies, large resident clubs, and luxurious lobbies, which reduce the actual usable area of the units. This is a common problem in recent years and a reality. Generally speaking, residential estates that are 10 years or older are considered more practical, which is also one of the advantages of estates like  BELVEDERE GARDEN . Whether you prioritize practicality or opt for brand new luxury and complete facilities, it is up to you to decide.