North Point Gets a Facelift

北角社區新貌

北角社區新貌

As we enter the first month of the summer, a number of new developments became available for sale, fuelling the primary market. The projected number of sales in the primary market for June is 2,300, a 60% increase compared to May. Meanwhile, the Federal Reserve imposed an interest rate hike of 0.25% in mid-june, whereas the federal funds rate roses by 1.75 to 2%, marking the second increase this year.

Although Hong Kong banks are expected to increase their interest rates this September, housing prices continue to surge. Thanks to a number of new developments in the area, North Point in particular has seen several record-breaking sales numbers. Just as prospective buyers are wondering whether real estate prices will fall once they make the purchases, according to real estate agents, 10% of home sellers in North Point have increased their prices right before closing the deal. The reason behind it is that despite the interest rates increasing seven times since late 2015, Hong Kong banks have not followed suit.

Back in the 1950s and 60s North Point was known as “Little Fujian” or “Little Shanghai,” and boasted regional idiosyncrasies and a unique cultural landscape. After decades of land reclamation, North Point—once a hillside area—has become a waterfront neighbourhood with views of Victoria Harbour, well-developed facilities and transport system, as well as a number of new luxury developments. Meanwhile, its bevy of reputable schools (the second biggest school net on Hong Kong Island) makes it a favourite amongst local and expat families. Apart from old buildings and walk-ups, the area is also home to many new office buildings, urban renewal projects, large complexes, infrastructure projects and green spaces in development.

Located in the middle of the Eastern District, North Point will benefit from the soon-toopen Central–wan Chai Bypass and Island Eastern Corridor Link, which will facilitate faster and easier commute between the west and east sides of Hong Kong Island. Residents also have the option of getting around the Island by the MTR or the tram.

In addition, North Point Ferry Pier has ferry routes to Kwun Tong, Hung Hom and Kowloon City, while the North Point Ferry Pier Bus Terminus offers 14 bus routes including an airport bus, as well as a special minibus route that goes to Pamela Youde Nethersole Eastern Hospital. Overall, there are over 30 bus routes that go through North Point, making it a wonderfully connected neighbourhood.

Currently, large shopping malls in the area include Island Place, Fitfort and Provident Centre, which aren't many at all. However, a wide range of mom-and-pop shops can sufficiently meet residents' daily needs. It is expected that an approximate number of 2,400 new units will become available in North Point between 2017 and 2019, and more retail spaces will be brought by future housing projects. According to Centadata, the average per-saleablesquare-foot price for North Point and Fortress Hill in June is around HKD17,020, marking a 6.2% increase from the previous month.

踏入6月，多個新盤登場，令一手市場火上加油，預測全月一手成交量可達2,300宗，較五月份數字增逾六成。與此同時，美國聯儲局於6月中加息0.25厘，聯邦基金利率上調至1.75厘至2厘，為今年第二次加息。

雖然香港銀行有機會在9月份加息，但樓市升勢仍然持續，其中在北角，受惠於近月區內多個新盤開售，樓價屢創新高。正當準買家擔心現時入市會否等同接火棒時，有代理指北角區約有一成業主反價，原因是香港銀行沒有立即跟隨加息，儘管美國自2015年底開始，兩年半內已加息七次。

50、60年代的北角素有「小福建」、「小上海」之稱，有著獨特的風貌人情及濃厚的地區色彩。如今經歷了多次填海，原本位置靠山的北角，坐擁維港景致，社區配套發展成熟，交通網絡完善，繁華簇新的住宅相繼進駐，亦因名校林立（港島區第二大校網），深受本地及外籍家庭歡迎。今天該區的社區面貌，除了舊式洋樓及唐樓外，還有新式寫字樓、重建項目、大型綜合發展項目、基建工程及擬建綠化空間，發展勢頭強勁。

位處港島東區中部的北角，可受惠於即將落成的中環灣仔繞道和東區走廊連接路，來往港島東西兩面更快捷。居民也可選 擇乘坐港鐵或廉價的電車穿梭港島各區。此外，北角碼頭設有渡輪航線前往觀塘、紅磡及九龍城。在渡輪碼頭旁邊是公共運輸交匯處，設14條專營巴士路線，包括機場巴士，另有專線小巴前往東區醫院。至於途經北角的巴士路線更多達30條以上，可謂四通八達。

目前，北角大型商場包括港運城、健威坊及和富中心，規模不算很大，但區內勝在有一系列的民生小店，足以覆蓋生活所需。預測2017至2019年期間北角約有2,400伙新單位供應，而日後落成的新樓基座可帶來更多的零售空間。根據中原地產資料，北角／炮台山6月實用呎價約17,020元，較上月升6.2%。