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Hong Kong's LOHAS Park & Taikoo Shing prices

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Hong Kong's LOHAS Park (Kowloon, near TKO) & Taikoo Shing

 

A possible scenario for HK Property - this is HK$ per sf, in Taikoo Shing

TKS2_zps2mddviyx.png

One of several possible scenarios, this being a re-run of 1997-2001

 

LOHAS PARK ... update - see also the Historical Prices, below
LOHAS_zpsnralexjh.png

 

Eventually: Fifty residential towers / 21,500 apartments

Green, green grass of home
Victor Cheung ... Thursday, November 08, 2007

a.jpg.Central-Park-1.jpg.

Here's a new town-planning concept for Hong Kong - MTR Corp's (0066) new residential district in Tseung Kwan O doesn't just have homes; it also incorporates a lifestyle.

The name of the project - LOHAS Park - makes it clear: LOHAS is an acronym for "lifestyle of health and sustainability."
It is a combination of personal care and concern for the environment.

"People living here can lead a green life without compromising on quality of life," Steve Yiu Chin, MTRC chief manager for town planning, told The Standard in an interview.

"The place was already designated as an 'environmental protection city' when we began planning in 2002. But after the SARS epidemic in early 2003, we added a slight twist and included an element of 'health' as it is also very important to care for oneself."

Formerly Dream City, it will sit atop the MTR Tseung Kwan O South Station, to be operational in 2009, and just north of the Tseung Kwan O Industrial Estate. The district is a large project, Yiu said, and will accommodate 58,000 residents in the 3.55 million- square-feet site area.

Fifty residential towers will be erected, offering 21,500 apartments, or 36 percent more than Kingswood Villas in Tin Shui Wai, another large-scale development.

The park's key feature will be 1.4 million sq ft of common area with greenery taking up 40 percent area of the whole site, or twice as large as Hong Kong Park in Admiralty. The common area will include a 200,000 sq ft park and a 330-meter promenade overlooking Victoria Harbour.

Although as many as 3,000 trees will be planted in the area, Yiu said, the exciting thing is not only the large proportion of green space, but the way these amenities are situated.

The planning will separate people and cars - pedestrians can walk to various facilities without having to cross a road since all the places are linked with covered walkways. To encourage walking, distances between different facilities have been carefully calculated, "so that people won't get too tired walking."

Bicycles are also encouraged in the district. "Riders can begin at their own flat, enjoy a scenic ride along the promenade, then park their bikes outside the MTR station and take the train."

The garden will need no fresh water as the developer installed a 440,000-liter water-recyling system to collect rain and household waste water for the plants.

Yiu said the company is studying the feasibility of a kitchen waste processing system in its shopping mall, as an effort to live up to the development's promise of sustainability.

Unlike anything in the New Territories, Yiu pointed out, this projects enables residents to enjoy both a rural environment with lots of greenery but still have the convenience of city living as they will be close to the MTR.

If you are wondering just how "natural" the air ventilation can be in a densely built condominium project, Yiu said buildings will be left with sufficient space to allow wind to blow through. Although the development is not far away from landfill, appropriate town planning should avoid the problem of smell, Yiu said.

LOHAS Park will be divided into nine to 13 phases, which are to be completed between 2009 and 2015. (note: this timetable has been slowed down)

The first phase, Capitol, is situated on the east side of the project and has 1.38 million sq ft of floor area. Market sources said presale may start as soon as this week. Each of the 1,648 apartments will be sold at above HK$6,000 per sq ft.

/more: http://www.thestandard.com.hk/news_detail....071108&fc=7

===============

 

PRICE COMPARISONS - per SF, Gross

 

LOHAS Park versus TKO and TKS : Which is better?
LOHAS can also be compared (pricewise) with Caribbean Coast, in Tung Chung.
These are at the two opposite ends of the MTR network.
It can also be compared with properties at Park Central in nearby Tseung Kwan O (TKO), and the "benchmark" estate in Taikoo Shing (TKS), on HK Island.
LOHAS has for a long time been priced at approx 50% of TKS. Will it stay there?
mo CariC: Lohas PkCen: TaikSh L/TKS :
13: 6,336 : 6,146 : 7,551 : 12,149 : 50.6%
F. : 6,325 : 6,315 : 8,650 : 11,939 : 52.9%
M : 6,160 : 6,339 : 8,372 : 12,131 : 52.3%
A : 5,877 : 6,295 : 7,661 : 11,710 : 53.8%
M : 6,130 : 6,074 : 7,810 : 11,847 : 51.3%
J. : 6,233 : 6,170 : 8,237 : 12,021 : 51.3%
Jl : 6,021 : 6,189 : 8,387 : 12,001 : 51.6%
A : 5,686 : 6,116 : 7,854 : 11,853 : 51.6%
S : 6,004 : 6,064 : 8,204 : 11,950 : 50.7%
O : 5,768 : 6,020 : 7,872 : 10,869 : 55.4%
N : 5,961 : 6,084 : 7,847 : 10,864 : 56.0%
D : 5,768 : 5,910 : 7,797 : 10,552 : 56.0%
14: 5,809 : 6,146 : 7,722 : 10,936 : 56.2%
F. : 5,758 : 5,692 : 7,970 : 11,892 : 47.9%
M : 5,695 : 5,901 : 7,777 : 11,392 : 51.8%
A : 5,660 : 5,666 : 7,246 : 12,592 : 45.0%
M : 5,603 : 5,913 : 7,756 : 11,294 : 52.4%
J. : 6,081 : 5,845 : 8,066 : 12,134 : 48.2%
Jl : 5,810 : 6,044 : 7.817 : 11,552 : 52.3%
A : 6,076 : 6,070 : 8,796 : 12,268 : 49.5%
S : 6,346 : 6,159 : 8,944 : 12,705 : 48.5%
O : 6,356 : 6,236 : 8,336 : 12,668 : 49.2%
N : 6,275 : 6,296 : 8,801 : 12,678 : 49.7%
D : 6,141 : 6,296 : 9,242 : 13,301 : 47.3%
15: 6,538 : 6,356 : 9,168 : 12,627 : 50.3%
F. : 6,573 : 6,638 : 8,978 : 13,319 : 49.8% : 02/22
M : 6,984 : 6,616 : 9,371 : 13,906 : 47.6% : 03/29
A : 6,260 : 6,617 : 9,461 : 14,347 : 46.1% : 04/26
M : 6,958 : 6,864 : 9,531 : 14,356 : 47.8% : 05/31
J. : 6,656 : 6,964: 10129 : 14,243 : 48.9% : 06/28
Jl : 6,594 : 7,084: 10034 : 14,956 : 47.4% : 07/26
A : 7,577 : 7,284: 10160 : 14,923 : 48.8% : 08/30
S : 6,514 : 7,065: 10187 : 15,101 : 46.8% : 09/27
O : 7,047 : 6,911 : 9,449 : 13,947 : 49.6% : 10/25
N : 6,856 : 6,872 : 9,194 : 13,731 : 50.0% : 11/29
D : 6,487 : 6,624 : 9,436 : 12,243 : 54.1% : 12/27 : TKS dropped faster: -10.8% vs -3.61%
16:
==
Pg. CariC: Lohas PkCen: TaikSh : L/TKS : CCLI :
I think the 50% discount to TKS is too big, especially since properties at
LOHAS Park are new, and TKS is very old.
I see the Discount narrowing over time, as:
+ More trains roll into LOHAS (it is now 1:3 or 1:4), and
+ A major shopping mall is added at LOHAS in future years

= = = = =
LINKS
=====
LOHAS Park / Wikipedia : http://en.wikipedia.org/wiki/Lohas_Park
LOHAS Park site.......... : http://www.lohaspark.com.hk/eng/index.html
Brochure, in chinese..... : http://www.lohaspark.com.hk/tchi/press/press_20071002.pdf
LOHAS Forum speakers : http://www.lohas.com/forum/speakers.html
MTR Corp. News.......... : http://www.kgia.com/kgi_site/kgidata/indic...PORATION+(0066)
MTR (HK:66) thread..... : http://www.advfn.com/cmn/fbb/thread.php3?id=16556832

AX threads : Old one ... : http://hongkong.asiaxpat.com/forums/hong-kong-property/threads/123703/lohas-park/

AX, New : http://hongkong.asiaxpat.com/forums/hong-kong-property/threads/9306a466-6bc9-4f30-b8b4-912f1eed2453/lohas+versus+tko+and+tks+3a+which+will+win3f/#postreply

GE, New : https://hongkong.geoexpat.com/forum/155/thread313193.html

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LOHAS Park to be built in Hong Kong
Source: The Standard / December 20, 2007

A revolutionary change in lifestyle is about to begin with LOHAS Park. Offering a green and healthy environment without sacrificing the luxuries of daily life, LOHAS, or Lifestyles Of Health And Sustainability, Park will soon launch The Capitol, its first phase.

LOHAS-Capital-PNG_zpsce463944.png

> Blow-up Image: http://202.72.14.52/img/img.aspx?dir=200803&name=04cpal00019830BEPOJDBK.jpg

... in context

The Capitol will consist of 2,096 residential units in its first phase with an estimated move-in date in 2009. According to its developer Cheung Kong Holdings, it will be available in batches later this year. Show flats are now available for viewing in response to the overwhelming response from the market.

683px-Lohas_park.svg.png

The Capitol show flats highlight two types of luxury units from 682 to 686 square feet, ideal for those in pursuit of stylish living. These two-bedroom flats feature lofty ceilings and practical layouts to maximize space. The spacious balcony not only gives mesmerizing views of the verdant hills or the harbor, but also brings in fresh air and natural light into the home.

Kitchens are fully equipped with premium cookware such as Cristal stoves and Philco home appliances, while bathrooms are tastefully decorated with mosaics and marble tops. Noise-free kitchen cabinets and toilets will be installed for ultimate tranquility. In line with its eco-friendly lifestyle, The Capitol is fitted with induction cookers for flameless cooking.

Situated directly above the Tseung Kwan O MTR station, LOHAS Park provides fast connections to the rest of Hong Kong.

At its center will be a huge Central Park with abundant greenery and recreational facilities to suit every need.

Shopping arcades in the neighborhood will also give residents a life of convenience and enjoyment.

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1/

MTR Woos Developers for Lohas Park III

 

MTR Corp invited developers to express an interest in the third phase of the Lohas Park in Tseung Kwan O. The rail operator said total investment cost for the residential estate was about HK$7 billion. Submissions are to be made on or before October 29. The project is scheduled for completion in 2012.

 

Lohas Park, formerly the Dream City project, is located at the future Tseung Kwan O South Station, near the Tseung Kwan O Industrial Estate. The site area for the third phase is 146,250 sq.ft., providing a total GFA of 1.38 million sq.ft. to accommodate four 49- to 54-storey residential buildings with 1,648 units.

 

The developer that wins the third phase contract has to pay the land premium and construction cost for a kindergarten, the part-structural shell of a public transport interchange, open space and roads. It also will be responsible for building a primary and a secondary school with the government footing the bill.

 

(South China Morning Post)

 

2/

Cheung Kong (0001) tenders for Lohas Park phase 3

 

23 Nov 2007 12:42 Market News

 

(Infocast News) Cheung Kong (0001) submitted tender for Lohas Park phase 3 project.

 

So far, MTRC (0066) has received a total of five bids from consortiums this morning, including Henderson Land Development (0012), New World Development (0017), Cheung Kong and K. Wah Real Estates

 

 

3/

Lohas Park phase 3 is MTRC's newest district project, coming right after its merger with Kowloon-Canton Railway Corp. Formerly called Dream City, it sits atop the future MTR Tseung Kwan O South Station, just north of the Tseung Kwan O Industrial Estate. The new phase would occupy a 146,250-square-foot site, comprising four towers of about 50 storeys to accommodate up to 1.38 million sq ft of gross floor area with 1,648 apartments.

 

The company winning the development rights will pay a land premium and bear the cost of building a kindergarten, public transport structure and roads. The project is scheduled for completion in 2012. The entire Lohas Park will provide 21,500 flats.

 

Ho said MTRC is negotiating the land premium with the Lands Department and aims to open it for tender by next month after the premium is set. Surveyors expect the government to charge a premium between HK$3,000 and HK$3,600 per sq ft on the project, compared with HK$2,418 for the second phase of Lohas Park in 2005, and HK$1,541 for the first phase.

 

The rise in premium reflects the heated market sentiment due to the better-than- expected land auction results earlier this month, analysts said, predicting the finished units will sell for more than HK$6,000 psf.

 

The Capitol, Lohas Park's HK$5 billion first phase developed by Cheung Kong, will sell its first units soon at HK$5,300 psf on average. Cheung Kong also won development rights for the HK$15 billion phase 2.

 

MTRC shares jumped 4.5 percent yesterday to close at HK$26.90

 

/see: http://finance.thestandard.com.hk/en/comp_...7&aid=55906

 

4/

Market News MTRC (0066): Lohas Park phase 4 will have >1,300 units "

 

(Infocast News) The fourth-phase project of Lohas Park, to be launched for

tender by MTRC (0066) next year, is expected to provide more than 1,300

apartments, MTRC Property Director Thomas Ho today.

 

The project is located to the west of the third phase and will comprise three

residential blocks covering a total of 100,000 square metres of floor area, he

said.

 

/see: http://www.kgia.com/kgi_site/news_text_mai...0+units++"

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I found this...

 

Land Cost : hk$25,944 psm / 10.77 = hk$2,409

Hong Kong's MTRC says Tseung Kwan O Area 86 land premium worth HK$ 3.335 billion"

system and develops land adjacent to its stations, said it has accepted the
government's land premium offer of 3.335 bln hkd for site E, Tseung Kwan O Town
Lot 70, Area 86 in Tseung Kwan O.

The site, earmarked for phase 3 of the MTRC's Lohas Park housing project, will
be developed by Cheung Kong (Holdings).

Cheung Kong, which won the MTRC's tender for the project last month, will fund
the premium payment.
The total gross floor area of the development will be approximately 128,544
square meters.
The project will comprise homes, a kindergarten and parking.
roby.lau@xfn.com
======
3.335 bln hkd /
gross floor area of the development will be approximately 128,544 square meters.
=
hk$25,944 psm / 10.77 = hk$2,409

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SELLING WELL...

 

The Capitol, Cheung Kong project, pulls in $10 Billion - says today's Standard

 

All but 20 of the 2,096 units in the Tseung Kwan O project were taken up since they were puit on the market last Friday

 

The unsold flats will be unloaded at public auction next Thursday. (Milan tower, 28th to 58th floors)

 

+ 50% of buyers are from HK Island

+ 35% are from Kowloon

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QUOTE (DrBubb @ Mar 7 2008, 07:17 AM) <{POST_SNAPBACK}>
SELLING WELL...

The Capitol, Cheung Kong project, pulls in $10 Billion - says today's Standard

All but 20 of the 2,096 units in the Tseung Kwan O project were taken up since they were put on the market last Friday

The unsold flats will be unloaded at public auction next Thursday. (Milan tower, 28th to 58th floors)

+ 50% of buyers are from HK Island
+ 35% are from Kowloon


Cheung Kong has just announced RECORD EARNINGS - up 73%

At the press conference, Victor Li (son of the chairman) was asked if they sold Capitol too cheaply.

His Answer:
"If we didnt have a bright outlook, we wouldnt go on land-hunting.
Our logic is to sell as quickly as possible."

(They did the same at CC in TC in early 2007, they sold quickly at a low price,
and now some of those properties are up 50% in just over one year.)

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Short Term: SUPPLY, Long Term: POTENTIAL

=============

 

Hong Kong Property district director Cheung Kwok-fung reckons the upside potential is high, provided that market sentiment prevails.

 

This month, the average private homes price has been HK$4,279 per sq ft, up 20 percent in five months.

 

In 2002-03 there was an oversupply of units in Tseung Kwan O, with 16 private housing estates built over15 years, providing 40,000 units, in addition to the 26 estates that are either public rentals or under the Home Ownership Scheme. Supply is minimal now.

 

Investors in The Capitol's first batch of flats being put up for sale would be at an advantage in the longer-term, as was the case in Whampoa Gardens and Taikoo Shing, where prices soared later.

 

Flats at The Capitol will not be ready for occupation until the second quarter of next year, and buyers will have to be mindful of the disturbance and noise related to continuing construction of the next eight to 12 phases of Lohas Park to be completed in 2015.

 

Lohas Park, which stands for lifestyles of health and sustainability, will be perched atop the MTR Tseung Kwan O South station.

 

During a site visit one afternoon, The Standard observed dozens of garbage and construction trucks passing through Wan Po Road, a main road connecting a reclamation area and just opposite the two towers of The Capitol. Despite its proximity to the garbage dumping area, there was no discernible odor.

 

A woman surnamed Li, who is eager to buy a flat in the district, says: "I will wait and see if the Lohas Park environment is as great as the commercials present it to be."

 

/more: http://www.thestandard.com.hk/news_detail....080228&fc=7

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Very promising, hopefully this will be more common in future. For now it will only be the reasonably wealthy that can afford to live in these specially designed live-in parks I imagine!

 

The problem is realistically people will still want to go to places outside their little area quite often hence rather than just doing away with cars we need an advanced alternative.

 

I think a great alternative can be a mix of something like Bangkok's sky train and Shenzhen's metro. The sky train could be for shorter distances so have more choice of where to go and the metro can be for longer distances. But the sky trains tracks should split out a lot.

 

There is a good aesthetic reason for having a sky train and that is you can look over the city as you are going past and it's highly visible so you can easily see where it's going. Also if the system is good enough we wouldn't even need roads, they could be converted into green park like walkways, like a whole city that is also a park!

 

I think I'm really onto something here, if only I knew how to draw I could do an artistic representation :lol:

 

I believe public transport could really flourish as a great solution once people are weened out of their cars. At the moment people choose to use cars because public transport isn't good enough yet the reason it isn't good enough is because there isn't enough demand to expand it- chicken and egg situation.

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I believe public transport could really flourish as a great solution once people are weened out of their cars. At the moment people choose to use cars because public transport isn't good enough yet the reason it isn't good enough is because there isn't enough demand to expand it- chicken and egg situation.

 

I agree. Good public transport, once built, tends to get heavily used - except in KL, for some reason.

 

I like your concept, and will start a new thread: Images of Good Public transport

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Perhaps a little off topic but......

Would be interested to hear anyones views on how (or if) Hong Kong property like LOHAS Park will be affected by the credit tightening / sub-prime troubles that started in the USA and which seem to be spreading around the globe.

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Perhaps a little off topic but......

Would be interested to hear anyones views on how (or if) Hong Kong property like LOHAS Park will be affected by the credit tightening / sub-prime troubles that started in the USA and which seem to be spreading around the globe.

 

Its more of a global inflation problem.

US rates are being edged up to cool inflation, and that threatens to pull up HK rates too.

How much, and for how long, remains to be seen

 

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Its more of a global inflation problem.

US rates are being edged up to cool inflation, and that threatens to pull up HK rates too.

How much, and for how long, remains to be seen

Are you saying that these LOHAS Park places (and HK in general) are going to edge up in price rather than edge down?

But but .......

I thought that the the credit crisis in the USA was pulling them into a recession causing bankruptcies to increase and eventually would pull prices down in HK (and other places around the globe).

 

Can you point me to any other indicators?

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Are you saying that these LOHAS Park places (and HK in general) are going to edge up in price rather than edge down?

But but .......

I thought that the the credit crisis in the USA was pulling them into a recession causing bankruptcies to increase and eventually would pull prices down in HK (and other places around the globe).

 

Can you point me to any other indicators?

 

 

There's relatively little speculative buying in HK now (compared with the 1997 peak, and London's recent peak). At the same time, there are a small number of new projects coming into the market.

 

The thing to watch is the HK economy, which remains robust so far, and what is happening to rents.

 

Nevertheless, I'm glad that I didnt buy at LOHAS Park, since there's loads of new supply coming there, and they will need to attract new people to live in a place that may look far away to most folks

 

For indicators, and links to indicators, try: (post #2) in:

http://www.greenenergyinvestors.com/index.php?showtopic=2792

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NEXT DOOR - A ECO-PARK ?

HK$700mn holiday camp envisioned for TKO site / Landfill to Eco-village

 

"The first eco-village in the Pearl River Delta"

"Holiday camp, and a showcase for advanced green technology"

"Would be run by community organisations rather than govt. or big business."

 

financial & technical studies this summer, followed by lobbying for govt funding

 

to try to make HK a leader in environmental and creative industries in Asia

 

Five parks with village settlements on different themes:

water, energy, nature, waste, and transport

 

Visitors can try out various installations

 

Connected to the MTR, with a nearby canal revitalised

 

Two Major INCOME Sources:

+ Rents (hostels, and event facilities), and

+ Consultancy services

Expect: 200 visitors per day, and 400 housing units

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ONE YEAR ON - What do we have? The second phase...

 

A new launch - Le Prestige: 1,688 new flats

 

Sales expected to be kicked off soon. There's a showflat open, and they are testing interest.

 

Joint Project of: MTR Corp., Cheung Kong, and Nan Fung Development

 

Asking prices are being muted at HK$5,500 psf, for 4BR units of 900 - 1,300.

 

+ A 10% premium to 1,000sf and larger flats in nearby Metro Town, Residence Oasis, and Park Central

+ A 30% premium to The Capitol, where flats are smaller, at 683 - 1,115 sf

 

Note: In Feb. 2008, in the market's bull run, the developers sold 2,096 flats in les than 36 hours

at an average price of HK$5,200 psf, reaping about HK$10 billion from the sales.

 

Today, in the secondary market, units at the Capitol are selling in the secondary market at prices

ranging from HK$3,452 - $5,938 psf, per data in the Land Registry

 

85 of 89 sales in the LR, show losses of 6 - 33 percent.

 

TKO is swamped with projects that were built in the last 5-8 years, and there are now more than

20,000 new flats in the pipeline there.

 

The LOHAS Park project will eventually comprise 50 towers of 46-59 floors each, offer a total of

21,500 flats, twice teh number in City One Shatin, with a gross residential area of 17.36 mn sf.

When it is finished, it will accomodate 58,000 residents.

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Cheung Kong to resell defaulted Capitol units

 

CK has about 100 defaulted units at the Capitol, and will relaunch 35 units

 

Originally sold at $5,200 psf, now trade at an average of $4,518 psf in the secondary market.

This compares with $5,000 at Le Prestige, and $4,500 after a discount granted, which means

that the $5,200 flats, which require an additional 90% payment for the keys, would be 13% underwater.

 

HarbourSide (HL and MTR jv) sold 90 units when it launched yesterday

35 flats sold at $17-19,000 psf

 

SALES were 406 units in the secondary market last week - per Ricacorp

That's up from 372 units the prior week, and the first time in six weeks above 400 units.

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GeoExpat thread talking about CHEAP RENTS in Lohas Park

 

Is there any catch?

Yes, it's in Tseung Kwan O -- a nightmarish new town with hundreds of roundabouts, four-lane highways and noise barriers, but no town centre.

 

 

#6 24-07-2009, 10:11 PM

geo-seb

has not updated his/her status. Join Date: Mar 2006

Posts: 185

 

 

Originally Posted by rapid_jap

Is there any catch?

The area is going to be a construction site for at least 6 more years.

 

 

#7 25-07-2009, 02:03 AM

deleteduser

is has tried this mod on a forum before, and nobody really used it Join Date: May 2004

Age: 30

Posts: 1,247

Yeah, construction is going to be a major issue. The fact that there is a landfill right over the hill might be an issue too, I'm not sure.

 

/see: http://www.geoexpat.com/forum/thread50731.html

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Le Prime at LOHAS Park has been launched by Cheung Kong

 

Prices average about H$5,500 psf, Gross

 

Here's a list in an image file:

68101.jpg

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One of these options would benefit LOHAS more than the other

 

TUNG CHUNG LINE Extension/Connection to the North Island Line

 

. . .

 

Under the plans, Hong Kong may get a North Island Line. This might be built to connect up three new stations – Tamar, Exhibition and Causeway Bay North, along Wan Chai harbour – with the existing Tung Chung and Tseung Kwan O lines. The existing Island Line might extend to Siu Sai Wan, a residential area in the northeastern part of Hong Kong Island. While the eastern part of the South Island Line is under construction and should be completed by 2015, it is also proposed, in the western part, to connect it with the West Island Line (which is being built now and should be completed next year).

 

==

> Time Out: http://www.timeout.com.hk/big-smog/features/57267/the-future-of-our-mtr-system.html

 

700px-North_Island_Line_proposal_swap.sv

 

700px-North_Island_Line_proposal_interch

 

> source: http://en.wikipedia.org/wiki/North_Island_Line

=

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Preferred Transport Option ?? Tung Chung Line may connect to LOHAS Park ??

 

700px-North_Island_Line_proposal_interch

== ==

meantime....

 

 

Home Price declines hit development site values

Govt tenders indicate that land prices have fallen to cost of building mass housing

- in Today's SCMP :

 

"... the land premium being charged for MTR Corp's Phase 4 LOHAS Park project in Tseung Kwan O

came in 15 percent lower than phase three's HK$2,410 in 2007

 

+ $2,410 x 85% = $ 2,050

+ add maybe $4k $ 4,000

= Est. sales price $ 6,050 psf ??

===========================

 

(from below, post #xx)

 

LOHAS Park is definitely a location to watch !

Like TKS, it is a sort of bellwether too,
and it has good transport links to:
+ Quarry Bay / Taikoo Shing
+ Tseung Kwan O / Park Central etc.

I monitor, the time and transport arbitrage between these locations.
Generally speaking, LOHAS is priced at about 50% of Taikoo Shing (TKS) at Quarry Bay.

mo CariC: Lohas: PkCen: TaikSh: L/TKS :
13: 6,336 : 6,146 : 7,551 : 12,149 : 50.6%
14: 5,809 : 6,146 : 7,722 : 10,936 : 56.2%

15: 6,538 : 6,356 : 9,168 : 12,627 : 50.3%
N : 6,856 : 6,872 : 9,194 : 13,731 : 50.0% :

D :

 

(Caribbean Coast is in Tung Chung, at the other end of HK.

It is also a long journey from Central, and has been priced at a similar level to LOHAS)

I think that current 50% gap will narrow over time because:

+ As more properties are completed there, more MTR trains will go directly to the LOHAS station
+ A mall is planned for LOHAS near the station. When it opens, it will be a better place to live

 

=====

TRANSACTION RECORD - End 2015

 

TAIKOO SHING
Twr-Flr-fl : Date-------- : Price : Size : Per SF

PeakLevel 09/13/2015 CentalineIndex $15119
(49) 13 H : 07/12/2015 : $1148: 800 : $14350
(16) 24 H : 08/12/2015 : $8.15 : 691 : $11795
(21) 05 E : 10/12/2015 : $9.50 : 800 : $11875
(23) 25 C : 10/12/2015 : $9.05 : 675 : $13407
(60) Hi. H : 21/12/2015 : $9.50 : 708 : $13418 < Note high fl.
(60) 28 E : 24/12/2015 : $11.0 : 717 : $13,253
(50) 19 D : 28/12/2015 : $6.44 : 608 : $12,799



LOHAS PARK
Proj-Tower-Floor : Date-------- : Price : Size-sf : Per SF

LePrime-07 20R A : 16/12/2015 : $6.60 1067/813 : $8,229 < NEW
Capitol. -03 37R D : 18/12/2015 : $6.30 : 943/704 : $8,949 < NEW
LePrime-07 20R A : 22/12/2015 : $5.80 : 909/680 : $8,529 < NEW
LaSplen.-11 19R C : 23/12/2015 : $6.10 : 961/727 : $8,391 < NEW
Capitol . -05 41R B : 23/12/2015 : $5.30 : 684/519 : 10212 < NEW
LaSplen.-09 20R A : 29/12/2015 : $5.95 : 901/676 : $8,802 < NEW

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( From AX thread : LOHAS versus TKO and TKS : Which will win for investors ? )

 

LOHAS versus TKO and TKS : Which will win? (for investors)

New projects from Cheung Kong, SHKP to fight it out in Tseung Kwan O

Cheung Kong and SHKP are poised to launch new projects for sale in the district, which is expected to lure East Islanders who want to upgrade

Originally published : 05 August, 2014

 

1d29d7975f513a45329c5a5bb5f4706.jpg

(photo):
Construction seen last Saturday at the Hemera, Lohas Park Phase IIIA. Photo: Edward Wong

Hong Kong's two largest developers, Cheung Kong (Holdings) and Sun Hung Kai Properties, will battle for buyers in Tseung Kwan O, where they are poised to launch new projects for sale.

Hot on the heels of the successful launch of its Mont Vert development in Tai Po, Cheung Kong will sell flats at Hemera, its joint-venture project with Nan Fung Development.

Sun Hung Kai Properties deputy managing director Victor Lui Ting plans to launch The Wings IIIA once it obtains presale consent from the Lands Department this month.

The two developments could provide a total of 2,608 flats. "The projects are expected to catch the attention of upgraders, who are interested in buying a bigger flat," said Aaron Mak, a sales manager at agency Hong Kong Property, said. "However, since The Wings IIIA offers one-bedroom and two-bedroom flats, it will also attract investors."

The Wings IIIA in Tseung Kwan O. Photo: Edward Wong

Property agents said the 1,648 flats at Hemera, Phase IIIA of Lohas Park, will mainly provide three-bedroom flats rather than one- or two-bedroom flats. Hemera's location is better than those of the previous phases, because it is above Lohas Park MTR station.

The Wings IIIA, south of the Tseung Kwan O MTR station, offers 960 flats. About two-thirds of the units are medium-sized and small flats with one to three bedrooms. The remaining flats have four bedrooms. The minimum saleable floor area of the one-bedroom flats is 334 square feet.

"Housing demand in Tseung Kwan O is very strong, particularly for three-bedroom flats. Many young families from the area plan to buy a bigger flat," Mak said.
==
> http://www.scmp.com/property/hong-kong-china/article/1566214/new-projects-cheung-kong-shkp-fight-it-out-tseung-kwan-o

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PRICING?
========

"Buyers are very smart and price-sensitive," Po said. "For example, the sales of some single-block new projects on Hong Kong Island were not active, because they were asking a premium price. But the sales of projects with asking prices less than those of second-hand flats are very strong."

Agents say the average price at Lohas Park is about HK$8,500 per square foot, while the prices of flats in the previous phases of The Wings range between HK$13,000 and HK$17,000 per square foot.

Upcoming housing supply in the area would be a major concern for buyers, because Tseung Kwan O will contribute the largest housing supply of any district this year and next.

Data from the Rating and Valuation Department shows there will be 17,610 flats completed in Hong Kong this year, of which about 14 per cent will be in Tseung Kwan O. About 17 per cent of the 12,660 flats scheduled for completion next year will be built there. The district's new housing supply has already reached 4,617 flats in two years.

MTR Corp awarded the fourth phase of Lohas Park, with 1,600 flats, to SHKP in April. The remaining phases of Lohas Park will be released in the next few years, adding to housing supply in Tseung Kwan O.

The abundance of new flats could limit potential increases in prices, especially in a down cycle

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LOHAS Park versus TKO and TKS : Which is better?


LOHAS can also be compared with Caribbean Coast, in Tung Chung.

These are at the two opposite ends of the MTR network.

It can also be compared with properties at Park Central in nearby Tseung Kwan O (TKO), and the "benchmark" estate in Taikoo Shing (TKS), on HK Island.

LOHAS has for a long time been priced at approx 50% of TKS. Will it stay there?


mo: CariC: Lohas: PkCen: TaikSh: L/TKS :

13: 6,336 : 6,146 : 7,551 : 12,149 : 50.6%

F. : 6,325 : 6,315 : 8,650 : 11,939 : 52.9%

M : 6,160 : 6,339 : 8,372 : 12,131 : 52.3%

A : 5,877 : 6,295 : 7,661 : 11,710 : 53.8%

M : 6,130 : 6,074 : 7,810 : 11,847 : 51.3%

J. : 6,233 : 6,170 : 8,237 : 12,021 : 51.3%

Jl : 6,021 : 6,189 : 8,387 : 12,001 : 51.6%

A : 5,686 : 6,116 : 7,854 : 11,853 : 51.6%

S : 6,004 : 6,064 : 8,204 : 11,950 : 50.7%

O : 5,768 : 6,020 : 7,872 : 10,869 : 55.4%

N : 5,961 : 6,084 : 7,847 : 10,864 : 56.0%

D : 5,768 : 5,910 : 7,797 : 10,552 : 56.0%

14: 5,809 : 6,146 : 7,722 : 10,936 : 56.2%

F. : 5,758 : 5,692 : 7,970 : 11,892 : 47.9%

M : 5,695 : 5,901 : 7,777 : 11,392 : 51.8%

A : 5,660 : 5,666 : 7,246 : 12,592 : 45.0%

M : 5,603 : 5,913 : 7,756 : 11,294 : 52.4%

J. : 6,081 : 5,845 : 8,066 : 12,134 : 48.2%

Jl : 5,810 : 6,044 : 7.817 : 11,552 : 52.3%

A : 6,076 : 6,070 : 8,796 : 12,268 : 49.5%

S : 6,346 : 6,159 : 8,944 : 12,705 : 48.5%

O : 6,356 : 6,236 : 8,336 : 12,668 : 49.2%

N : 6,275 : 6,296 : 8,801 : 12,678 : 49.7%

D : 6,141 : 6,296 : 9,242 : 13,301 : 47.3%

15: 6,538 : 6,356 : 9,168 : 12,627 : 50.3%


I think the 50% discount to TKS is too big, especially since properties at

LOHAS Park are new, and TKS is very old.


I see the Discount narrowing over time, as:

+ More trains roll into LOHAS (it is now 1:3 or 1:4), and

+ More shopping is added at LOHAS in future years

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