97 King of property, Kornhill Garden accumulated to increase 70% , Royal Ascot only increase 12.7%
Wenwei  2022-06-28  Transaction 

The 25th anniversary of Hong Kong’s return to the motherland is approaching. The property market has gone through vicissitudes. Most of the properties whose prices peaked in 1997 have “returned to their hometowns” today, but the growth rates vary. According to the data of Centaline Property, the four districts of Hong Kong Island, Kowloon, New Territories East and New Territories West with the highest price per square foot (excluding luxury houses) were Kornhill Garden, Huijing Garden, Junjing Garden and Wave Crest Garden respectively. Up to now, Kornhill Garden ($17,001 per sq. ft.) and Scenery Garden ($15,223 per sq. ft.) have increased by 70% and 52.8% respectively compared with 1997. ft. 13,743 yuan) was similar to the high in 1997, only up 27.9% and 12.7% respectively. ◆Hong Kong Wen Wei Po reporter Yan Lunle

Huang Liangsheng, senior co-director of the research department of Centaline Real Estate, pointed out that when the handover came back in July 1997, the property price entered a peak period. At that time, the four districts in Hong Kong with the highest price per square foot were Kornhill Garden in Quarry Bay, Huijing Garden in Lam Tin, and Junjing in Fo Tan. Garden and Shamjing Wave Crest Garden. It is worth mentioning that at that time, the average price per square foot of Grand View Garden was 12,192 yuan, which was the most expensive price per square foot of the component housing estates in Hong Kong. The housing estates with the highest price per square foot in the other three districts are Kornhill Garden at RMB 10,002 per sq. ft., Scenery Garden at RMB 9,965 per sq.

Sea Crest Garden's "SARS" was sold at 1781 yuan per square foot

However, following the financial turmoil and the impact of the SARS outbreak in 2003, the property prices in Hong Kong fell to the bottom in May 2003, as did the property prices of the four housing estates. Highest in. According to the data, compared with July 1997, in May 2003, Wave Crest Garden (RMB 1,781 per square foot) dropped by 80%, ranking at the lower position in the price per square foot of CCI component housing estates. 2,801 yuan), Grand View Garden (3,589 yuan per square foot) and Kornhill Garden (3,014 yuan per square foot) fell by about 70%.

Afterwards, stimulated by the central government's measures such as individual travel of mainland residents to Hong Kong, Hong Kong's property prices quickly resumed their upward trajectory. Among the above-mentioned housing estates in Hong Kong and Kowloon, Kornhill Garden and Huijing Garden have begun to grow significantly more than the New Territories estates Chun King Garden and Sea Crest Garden.

On the eve of the financial tsunami, he has not returned to his "hometown"

During the financial tsunami in September 2008, the property prices of the four housing estates had risen to a certain high level, but they still could not return to the high level of 1997. At that time, the price per square foot of Chun King Garden was still the highest in the New Territories East housing estates, but the growth rate had lagged behind that of Hong Kong. Yi Garden. According to the property price data in 2008, compared with the price per square foot in July 1997, Kornhill Garden had a difference of 31.2% (RMB 6,884 per square foot), Junjing Garden had a difference of 42.9% (RMB 6,961 per square foot), and Huijing Garden had a difference of 41.7%. ($5,814 per square foot), and Sea Crest Garden differed by 62.5% ($3,407 per square foot), and Sea Crest was the slowest of the four housing estates.

So far this year, the property prices of the four housing estates areIt has already surpassed the high of 1997, but the "ranking" has changed. Kornhill Gardens (RMB 17,001 per sq. ft.) and Scenery Gardens (RMB 15,223 per sq. ft.) increased by 70.0% and 52.8% respectively compared with 1997. On the other hand, Sea Crest ($11,619 per square foot) and Grand View ($13,743 per square foot) rose 27.9% and 12.7% respectively.

Huang Liangsheng believes that the data shows that housing estates in the urban areas of Hong Kong and Kowloon have been more sought after in the past. The two housing estates in the New Territories have been hindered by the immature infrastructure facilities, which hindered the rise in property prices. The property price appreciation of Sea Crest Garden and Junjing Garden is expected to accelerate.

All seats in the most expensive housing estate are "shuffled"

With the completion of more new housing estates after the 1997s, the location of the kings of the four districts has already been "shuffled". Calculated based on the CCL component housing estates of the Central Plains City Leading Index, the most expensive housing estates in Hong Kong Island are Leighton Hill ($49,750 per square foot), Kowloon is the Arc de Triomphe ($38,218 per square foot), and the New Territories East and New Territories West are Royal Dragon Hill ( $19,225 per square foot) and Jubilee Court ($18,226 per square foot).

As for the top ten housing estates in the Central Plains, Taikoo City on Hong Kong Island is the top ($18,259 per square foot), the rest of Kowloon is Whampoa Garden ($16,622 per square foot), and the New Territories East and New Territories West are Shatin City One ($15,612 per square foot) and Yingwan Garden ($12,627.9 per square foot).

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