Lifestyle

Tai Po's blossoming luxury market

The property outlook didn’t look as gloomy as everyone thought it would earlier this year. In fact, the primary sector recorded over 1,900 transactions in January—the highest volume in the previous five months. However, the ailing market seems to have turned the corner as it continues to boost buyer sentiment and developers’ confidence in bidding for government land. The recent one put up for tender—a residential site at the junction of Yau King Lane and Pok Yin Road in Tai Po—received a surprisingly keen response with ten developer applications, widely seen as a positive sign for the market. In fact, the rising potential of Tai Po also adds appeal to the land site.

Tai Po has been seen as an ever-growing luxury market in recent years and it still is a major area in New Territories East. The district will have a supply of 5,000 new flats in the pipeline, with the majority built in Pak Shek Kok, the waterfront area in the southern end. Mayfair By The Sea 8, developed by Sino Group and The Horizon by Billion Development, are two new projects sitting within the district, along with China Overseas Land’s The Regent, situated in an elevated position near Tai Po town centre. All three projects were open for sale at the start of the year, giving the area an immense boost.

While Tai Po is brimming with opportunities for developers, it’s a serene neighbourhood for residents, with a fascinating natural landscape from the picturesque Pat Sin Leng, cycling hotspot Tai Mei Tuk to the gurgling Ng Tung Chai Waterfall, not to mention vast open areas to walk around or exercise such as the Tai Po Waterfront Park and Promenade. It’s not surprising that Tai Po’s percentage of green spaces, agricultural land and country parks rank second among all 18 districts in Hong Kong.

Moving into Tai Po, you will be blessed with pristine surroundings, something that’s hard to find living in urban areas. However, on the downside, it takes longer to travel into the CBD and central areas of the city, taking almost one hour from Tai Po Market or Tai Wo MTR station to Central, for example. The good news is that the Sha Tin to Central Link, once in service, will take residents to Admiralty via Tai Wai MTR Station in just 35 minutes. Plus, there are plenty of bus and minibus routes available. There is no shortage of shopping with Tai Po Mega Mall and Tai Po Plaza as the two major malls in the district, and you’ll also find an abundance of traditional markets and mom-and-pop shops. According to data from Centaline, Tai Po has an average per-square-foot price of HK$11,666, a 5% increase from the previous month. Great Eagle is expected to launch a new residential development, ONTOLO, in the first half of the year.

Selected developments

The Regent


The Regent

Located on 8 Shan Tong Road, this property from China Overseas Land offers a total of 1,620 units in 17 blocks, ranging from one- to four-bedrooms. There are 877 three-bedrooms with saleable areas between 542 and 892 square feet, 101 one-bedrooms with areas between 366 and 382 square feet and 90 special units with the largest measuring 1,386 square feet. The development has a 240,000-square-foot clubhouse which includes plenty of garden area, indoor and outdoor pools, bowling alley, children’s playground and gym. The project is expected to be completed in January 2021.

Solaria


Solaria

Developed by K.Wah Group, Solaria is located on 16 Fo Chun Road, with a total of 1,122 units in nine blocks, ranging from studios to four-bedroom apartments. The first round of sales was launched in June 2018 with 710 units available for purchase, totalling HK$6 billion. The remaining 400 units are mainly three- bedrooms and special units. The project is expected to be completed in February 2020.

The Horizon


Located on 18 Fo Chun Road, this Billion Development project consists of four residential towers and eight standalone houses, offering a total of 667 units, ranging from one- to four-bedrooms, with areas between 447 and 4,494 square feet. Among them are 659 apartments ranging from 447 to 2,242 square feet, while houses are between 4,084 and 4,494 square feet.

 

Things to know before moving into Tai Po

The first cinema

Tai Po will welcome its first cinema in Tai Po Mega Mall. With four theatres offering 300 seats, it is due to open in the first half of 2019.

Submerged streets

Every year during the wet season, the streets of Tai Po are constantly submerged in rain water. This is particularly problematic on Nam Wan Road near the Tai Po MTR station, as well as the surrounding areas of Ting Kok Road and Tung Tsz Road.

School net

Tai Po’s Primary School Net is No. 84, which includes Tai Po Government Primary School, Po Leung Kuk Tin Ka Ping Primary School, Sacred Heart of Mary Catholic Primary School and Tai Po Old Market Public School (Plover Cove). The Tai Po District’s Secondary School Net covers Hong Kong Taoist Association The Yuen Yuen Institute No.2 Secondary School, Tai Po Sam Yuk Secondary School, Buddhist Tai Kwong Chi Hong College and Wong Shiu Chi Secondary School, among others. The area also has international schools such as the American International School Hong Kong, International College Hong Kong Hong Lok Yuen, Japanese International School, Malvern College Hong Kong and Norwegian International School.