Sha Tin on the Rise
Created through land reclamation, Sha Tin is one of the best developed new towns in Hong Kong. Though initially conceived by the government to cope with the city's expanding population, Sha Tin has since become so much more than a bedroom community, with a highly advanced transport network and a plethora of dining and retail outlets.
Sha Tin is situated between several universities located along the East Rail Line (Chinese University, City University, Baptist University, Polytechnic University and Education University), and thus enjoys a strong rental market thanks to the legions of local and overseas university students. During summer holidays, in particular, rentals in the area are a scarce resource.
In addition, the district's great connectivity has attracted many buyers to move here. There are four tunnels that link Sha Tin with the urban areas of Kowloon, including the Lion Rock Tunnel, Shing Mun Tunnel, Tate's Cairn Tunnel, and Eagle's Nest and Sha Tin Heights Tunnels, while every residential area in the district has bus routes and MTR stations nearby. The Sha Tin to Central Link, once completed, will significantly shorten the commute from Tai Wai to Admiralty down to only 17 minutes. In other words, it's going to be a quick and easy journey no matter where you are heading to from Sha Tin.
While Sha Tin's transport network and infrastructure holds great appeal to homebuyers, it has also caught the attention of developers, who are working hard on upgrading Sha Tin into an area offering both residential and commercial opportunities. This in turn will bring more facilities and shopping and entertainment spots to benefit residents. For example, the largest one-stop shopping centre (complete with commercial buildings and hotels) along the East Rail Line is located in Sha Tin. On the other hand, the district has no shortage of parks, green spaces, sporting facilities and promenades, including tourist attractions such as Sha Tin Racecourse and Penfold Park. The lush greenery has elevated the value of Sha Tin's real estate, especially in the case of housing estates along Shing Mun River.
Although over 60% of Sha Tin's population takes residence in public housing estates, the district—thanks to its expansive area and decades of development—boasts a variety of private residential properties, ranging from blue-chip estates and standalone buildings, to townhouses, single-family houses and luxury mansions. There are over 40 housing estates in Sha Tin Town Centre alone. According to sales data from Gohome.com.hk, Sha Tin district saw 15 residential property sales in August, with the average per-square-foot price at HK$16,120. New developments in the district include St Moritz, La Cresta and The Garrison, while secondary market sales are mostly concentrated on blue-chip estate City One and Home Ownership Scheme estate Yu Chui Court.