Living with the Skyline of Tsim Sha Tsui

According to the 2016 Index of Economic Freedom by the American think tank The Heritage Foundation, Hong Kong is 22 years on a roll in first place on the index. As a free market, Hong Kong attracts a lot of foreign investments and is involved in many commercial activities.

Those who like travelling and are required to travel for business frequently like to live near a transportation hub or a commercial centre. On both sides of Victoria Harbour, Tsim Sha Tsui and Central are both transportation and business hubs.

However, Tsim Sha Tsui stands out with a large area of green space (Kowloon Park). From the park, there is the view of the most beautiful skyline in the world, which offers breathing space for busy city dwellers.


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A Prime Location

The infrastructure of Tsim Sha Tsui is very comprehensive. Travelling to and from the New Territories, airport, ferry piers and entry ports are fast and easy. Thus, it is the preferred location for those who need to travel all the time on business. Despite the tightening measures on the property market, the demand is still steady.

“Take the property atop of the Kowloon station as an example; we completed 27 deals in November. The business remains relatively stable. Most of the buyers are residents. In December, the effect of the new measures becomes apparent. There are more cases for leasing than buying,” says Tina Ting, manager of Bao Hua Property Agency.

“However, since the infrastructure of the district is well developed, upon the opening of the Shatin to Central Link, it is expected demand will continue to rise.”

Selective Properties

The Harbourside
Located on top of Kowloon station, The Harbourside is composed of three connected arch-like buildings, providing a total of 1,122 units. The layout is a two to four-bedroom design with a standard construction area between 1,026 to 1,466 square feet. There are also connected units and duplexes. The latest deal involved a room C unit in the higher zone of block 3. The saleable area of the unit was about 1,076 square feet with breathtaking sea views and a car park. It sold at $42 million, and the cost per square feet of saleable area was $39,033.

The Masterpiece
The Masterpiece is a landmark skyscraper located on No.18 Hanoi Road. Offering a total of 345 units, it comprises one to four-bedroom apartments in a saleable area ranging from 816 to 5,260 square feet. At the beginning of November, a four-bedroom duplex with a saleable area of 3,855 square feet was sold for $155 million. The cost per square feet of saleable area was $40,208. It was said the buyer paid 15% of the new stamp duty which was as high as $23.25 million.

Harbour Pinnacle
Launched in 2015, the newly renovated Harbour Pinnacle is an apartment building located at No.8 Minden Avenue. Previously called The Pinnacle, which was a serviced apartment building, the Harbour Pinnacle is now sold by unit. The latest rental deal involved a room H two-bedroom unit in the lower zone with a saleable area of 472 square feet. It is leased at a monthly rent of $22,000. The cost per saleable square feet is about $46.6

Facts about living in Tsim Sha Tsui

Road Closure and Noise
There are a few major redevelopment projects in the area, which include the construction of the West Kowloon Terminus, the expansion of the Avenue of Stars and the renovation of the Hong Kong Museum of Art . Roads in the nearby areas are sometimes closed, and the constructions create undesired noise.

Light Pollution
The issue is quite serious in Tsim Sha Tsui. According to figures released by the Department of Physics at the University of Hong Kong in 2013, the luminosity at night in Tsim Sha Tsui exceeds the international standard by 1,200 times, making it the most polluted area in Hong Kong by light.

School Net
Under the primary one placement scheme, the district belongs to school net 31. The area is dotted with elite schools such as Diocesan Girls’ Junior School, St Mary’s Canossian School, and Yaumati Catholic Primary School. Under the secondary school placement scheme, it belongs to the Yau Tsim Mong district, including such secondary schools as Diocesan Girl’s School, St Mary’s Canossian College and Wah Yan College, Kowloon.