Property

Tsuen Wan's strong property prospects

Tsuen Wan

When it comes to the transport network, Tsuen Wan is one of the most well-connected districts in Hong Kong. Internally, the area features the biggest and longest footbridge network in the city - the Tsuen Wan Town Footbridge Network, which connects Tsuen Wan Station and Tsuen Wan West Station; externally, it has two MTR lines that link the district to numerous major stations including Yuen Long, Nam Cheong, Prince Edward, Tsim Sha Tsui East and Hung Hom. 

In addition, Tsuen Wan also offers an array of bus and minibus routes going to all parts of Hong Kong, including the airport and departure ports, as well as ferries to Park Island. The high-speed rail, expected to be completed next year, will shorten the Guangzhou South Station/Shenzhen North Station to Tsuen Wan West Station travel time to one hour.

In fact, developers are well aware of the real estate prospects brought by Tsuen Wan's great connectivity, and have been working on new developments as well as renovation and revitalization projects across the district. From one of Hong Kong's first-generation towns, to an industrial area, to today's modern city with excellent living facilities and commercial outlets, Tsuen Wan boasts a wide spectrum of advantages. In recent years, new developments tend to gravitate towards the Tsuen Wan West Station area, which hosts several large seaside housing estates since 2014 including City Point (1,717 units), The Pavilia Bay (983 units), Ocean Pride (970 units), the newly available Ocean Supreme (1,436) and the soon-to-open PARC CITY (953 units). There is also a mixed-use development on Yeung Uk Road and a residential conversion project planned for the future, which will offer a combined number of over 5,000 units upon completion.

More on Tsuen Wan:
>> The rise of Tsuen Wan
>> How Tsuen Wan became an urban miracle
>> Tsuen Wan - the one-stop neighbourhood


PARC CITY Tsuen Wan

Apart from continued local housing demand, mainland funds are very likely to be led into the Tsuen Wan property market by the high-speed rail. Kwok Tze-wai, director of Real Estate Investment at Cheung Kong Property, says that the opening of the high-speed rail may trigger a new wave of mainland investors buying property in Hong Kong. It is particularly likely for idle assets from Shenzhen – where the property buying limit is enforced – to pour into Hong Kong. Therefore, it is easy to see why the Tsuen Wan West Station area, only four stops away from Shenzhen North Station, packs tremendous potential in its property value. In addition, Tsuen Wan residents enjoy high quality of life, thanks to the abundance of cultural and entertainment facilities, green space and shopping malls. IKEA, the world's largest furniture retail company, is set to open its Tsuen Wan store this fall. 


Selected properties:

Ocean Supreme

Located on top of Tsuen Wan West Station, Ocean Supreme is the Phase 2 project of Cheung Kong Property's Ocean Pride development. It comprises of four blocks, offering a total of 1,436 units. The two- to four-bedroom flats measure between 497 to 1,163 saleable square feet. Phase 2 is situated closer to the Rambler Channel, hence it comes with better views compared to Phase 1, with all units having sea views. By the end of July, Ocean Supreme had sold over 600 units. 

>> Ocean Supreme's show flat


City Point

Co-developed by Cheung Kong Property, Nan Fung Group and MTR Group, City Point is located at 48 Wing Shun Street, and consists of seven blocks with 1,717 units with saleable areas ranging from 498 to 1,467 square feet. Most units are two- to four-bedroom flats. A high-level B unit with a saleable area of 498 square feet was recently sold at HK$7.29 million, or HK$14,639 per square foot.

The Dynasty

Located at 18 Yueng Uk Road, The Dynasty was a collaborative project by Sino Land and the Urban Renewal Authority. The eight-year-old development has two buildings and a total of 256 units, mainly large flats with three- or four-bedrooms with saleable areas between 972 and 1,739 square feet, and every unit includes a balcony. The estate includes an 86,000-square-foot club with indoor and outdoor pools, a jacuzzi, sauna and steam rooms, gym, table tennis room, a kids' play room, a banquet hall and more. A three-storey mall is situated at the bottom of the estate.

>> Related articles: Things to know before moving into Tsuen Wan
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