Weekend Property

Winning recipe: Ma On Shan residents enjoy tranquillity of the New Territories, and easy access to Kowloon and Hong Kong Island

Residential neighbourhood provides a pleasant living environment for people and families looking for a better quality of life

PUBLISHED : Friday, 30 September, 2016, 2:02pm
UPDATED : Friday, 30 September, 2016, 2:30pm

Ma On Shan offers rural tranquillity and good views, and is ideally located for those who also want close access to the city.

The area has a comprehensive mix of housing, from low-density residences to high-rise towers.

Originally an extension of Sha Tin, the district, located at the west face of the twin peaks of Ma On Shan and along the eastern coast of Tolo Harbour, has grown in the past three decades to become a sought-after residential area today.

A continuous supply of new residential projects, coupled with major infrastructure improvements, have given an impetus to the area’s growth. The latest residential sales include Henderson Land Development’s Double Cove Summit in Lok Wo Sha and Wang On Properties’ The Met. Blossom in Ma Kam Street.

Nick Tang, executive director of Wang On, says more than 98 per cent of the 640 flats in The Met. Blossom have been sold within two weeks of the launch, reflecting strong buyer interest.

“The selling prices are pitched at near market rates, so a number of singles, young couples and investors have come forward to purchase,” he says. “About 60 per cent of buyers are end-users and 40 per cent investors.”

Tang says that Ma On Shan is an established district complete with comprehensive community amenities and facilities. In the town centre, Sunshine City Plaza and Ma On Shan Plaza offer a variety of shopping and dining options, with a public library, sports arena and swimming pools in the vicinity.

Located close to Ma On Shan MTR station, The Met. Blossom provides mainly studios and one-bedroom units. Wang On is developing another project, The Met. Bliss, near Hang Kwong Street, and will offer 364 flats, also mainly studios and one-bedroom units.

Tang says Wang On is keen to acquire land for development and will determine the mix of unit sizes according to the location and merit of individual sites.

“We believe that the supply of the small-sized flats in Ma On Shan area is relatively limited,” he says. “With improved sales of smaller flats and strong demand for such properties, buyers are forthcoming.

Many people are moving into this district to get closer to nature and enjoy the open views to Starfish Bay and Tolo Harbour
Joe Wu, district manager, Centaline Property Agency

“In addition, a number of tertiary students and young mainlanders studying in Hong Kong are interested in leasing flats in the neighbourhood. That’s why some investors are buying flats there for long-term rental purpose.”

Tang expects to see strong underlying housing demand and the prevailing low interest rate environment continuing in the near future, which will be positive to the overall property market and Ma On Shan’s long-term development.

The development of Ma On Shan received a boost when the government officially made the area an extension of Sha Tin in 1979. Public and subsidiary housing estates began to spring up in 1980s. Sunshine City, Ma On Shan Centre and Bayshore Towers are among the first batch of private residential developments completed in 1990s.

Joe Wu, district manager of Centaline Property Agency, says Ma On Shan is a purely residential neighbourhood providing a pleasant living environment for people and families looking for a better quality of life.

“Many people are moving into this district to get closer to nature and enjoy the open views to Starfish Bay and Tolo Harbour,” he says. “A majority of them come from Sha Tin and within the Ma On Shan area while some homebuyers are from Tseung Kwan O and other Kowloon areas.”

Christy Chan, sales manager of Midland Realty, says many homebuyers are attracted to Ma On Shan by the district’s tranquillity and access to a natural environment. The area provides a good mix of small and large flats for buyers from Sha Tin, Ma On Shan, Kowloon and Hong Kong Island.

Ma On Shan adjoins the Sha Tin area at Tai Shui Tang and stretches northward to Whitehead, Wu Kai Sha and Nai Chung. The opening of the Ma On Shan Line at the end of 2004 significantly enhanced the area’s connections to other parts of the city, complete with a network of highways and road links to Tate’s Cairn Tunnel, Tolo Highway and other transport infrastructure. Connection to Sai Kung by Sai Sha Road also gives immediate access to the attractive countryside.

Among the new residential supply coming on stream, Sun Hung Kai Properties is building a new project in Yiu Sha Road with 421 units that are anticipated to be launched for sale in the coming months. CK Property is developing another project in Lok Wo Sha comprising 454 units due to be released soon.

More new residential projects are in the pipeline. In May last year, CITIC Pacific Properties purchased a residential site in Lok Wo Sha for HK$1.47 billion, representing an accommodation value of HK$6,502 per square foot.

China City Construction acquired a site overlooking the sea in Whitehead from the government for HK$2.138 billion in 2014. The group is investing more than HK$4 billion to develop more than 400 low-rise to mid-rise residential units.