Little progress at remote centre
UNLIKE the rest of the territory, which is experiencing significant activity, Sun Tuen Mun Centre has experienced only a 0.3 per cent increase since the general March pick-up, according to the latest Brooke Hillier Parker (BHP) property report.
Its January prices were $2,015 per square foot (psf), and have decreased to $1,940 psf for July. It has decreased 1.1 per cent since the end of last year.
Sun Tuen Mun Centre has seen less activity than other properties because of its relatively remote location.
''Although the centre is in the centre of Tuen Mun, quite well located for that area, it is not as accessible. This keeps prices low,'' said David Faulkner, a partner at BHP.
''Over the last six months there has not been much change in price. It is different from other parts of Hong Kong, because of Tuen Mun's slightly remote location.
''You have to take the bus instead of the railway.
''In general, the market is not in for a lot of price movements. It is normally quiet in the summer. For autumn, prices should be edging up.
''The market is still affected by restrictions on mortgage lending, which keeps it fairly stable.''
