Lifestyle

Tai Kok Tsui’s Olympic Taking The Gold for Housing

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It is indeed understandable that some people don’t want to trade their life’s savings for a tiny home, and would rather pay for a comfortable, high-quality living space. At present, Hong Kong’s rent is not increasing at the same pace as home prices, posing a good opportunity for those looking for good rentals.  That's where Tai Kok Tsui's Olympic comes in. There is an abundance of quality estates in the area, many of which boast premium seaside locations and a diversity of unit types, hence they have become popular amongst the middle-class, young professionals and those looking to upgrade their homes. The fact that Olympic station is only one stop away from the soon-to-open West Kowloon terminus means properties in the area possess well-developed facilities and great connectivity. 

There are as many as a dozen estates sitting above the Olympic MTR station and Olympian City, but they don’t feel as overcrowded as they do in certain high-density areas in Hong Kong. Island Harbourview, Park Avenue and Central Park are three such estates, offering residents a string of conveniences. In terms of transport, Olympic is only two MTR stops away from Hong Kong station, which is very convenient for those working in the CBD area on Hong Kong Island. The Olympic Public Transport Interchange also has plenty of buses and minibuses going toward districts such as Mong Kok, Kwun Tong, Kwai Chung, Tsuen Wan, Tuen Mun and Tai Po. Even so, the journey to Langham Place in Mong Kok would only take 15 minutes on foot. 

A green environment is truly priceless to city dwellers. Whether it is watching the sunset along the promenade near Island Harbourview, or going for a stroll in the nearby Cherry Street Park (with sports facilities), Olympian Park (with a children’s playground), and Nam Cheong Park (with an expanse of green grass), leisure facilities often make living in
a district more desirable and attractive for residents. Additional facilities in the area include a library, sports centre, and a swimming pool in the Tai Kok Tsui Municipal Services Building. 

It is worth noting that after years of development, housing estates in the area have varying ages, location, views and qualities. Even units within the same estate could have very different prices. Whether you are seeking properties for personal use or investment, do make sure to inspect the unit in person so you can have a good understanding of its quality and appreciation potential.

 

SELECTED PROPERTIES


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Island Harbourview
Located on 11 Hoi Fai Road and co-developed by Sino Land, Bank of China (Hong Kong), CapitaLand, Kerry Properties and MTR Corporation, Island Harbourview is amongst the first estates built atop Olympic Station. It was completed in 2000 and its nine blocks offer a total of 2,314 flats, mainly large units. A high-level G unit in Block 6, with a saleable area of 459 square feet, has recently been rented out at HK$20,000 per month or HK$44 per square foot.


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Park Summit
Located on 88 Beech Street, Park Summit was developed by Sino Land and the Urban Renewal Authority and completed in 2013. Its two blocks comprise of 462 units of three types: studios, one- and two-bedrooms. A high-level H unit in Block 1, with a saleable area of 280 square feet, has recently been leased out at HK$15,000 per month or HK$54 per square foot.


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Harbour Green
A project co-developed by Sun Hung Kai Properties and MTR Corporation, this five-block estate was completed in 2007. Located on 8 Sham Mong Road, it has 1,514 units ranging from two- to five-bedrooms. A high-level D unit in Block 5, with a saleable area of 478 square feet, has been rented out at HK$22,500 per month, making the per-square-foot rent HK$47.

One SilverSea
This Sino Land development located on 18 Hoi Fai Road was completed in 2006, and consists of seven blocks and 700 units, most of which are three- or four-bedrooms. A mid-level B unit in Block 1, with four bedrooms and a helper’s room, and a saleable area of 1,206 square feet, has recently been leased out at HK$55,000 per month.

 

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