what can you get for 4 million in DB?

We are looking to buy a flat in DB, 4 million max (purchase price+renovation as they all seem to need renovation). Need 2 bedrooms and 2 bathrooms or 1 bathroom + 1 toilet, or at least the possibility of putting in second toilet ourselves. So far Parkridge Village is the best we've seen in this price range (540 saleable sq feet, convenient for transportation to Plaza/airport/Tong Chong). Haven't visited Peninsula Village (Blossom, Jovial) which seems to be a bit cheaper than the average, but looking at the map not sure how convenient it is for the pier. Why is Peninsula cheaper (i.e. what's wrong with it)? Can anyone tell me the pros and cons of the various buildings / phases? Thanks. Also, what do your crystal balls say about where prices will go in the near future?

We had a look recently at Blossom.

Flats are of good size, and views are good too.


Problem: it is a long walk to the Ferry, and Two bus rides from the MTR.

If that doesn't bother you, it probably represents good value

Mamadavid,


I'm far from an expert on eBay but here are a few thoughts.


Older phases:


Pros: - higher usable area. Some are over 85% perhaps even 90%. (You can look up dbay on wikpedia to get a clear picture of the various phases release dates.)


- many are better positioned nearer to the pier.


- most will need renovation.


- low management fees.. Some as low as $1 per sq/ft


Cons - some of the older phases such as dbay plaza are used for business purposes such as music schools etc and get quite noisy (so I'm told)


- they lack their own clubhouse. Some of the newer developments such as Chianti have their own pool, while Sienna has its own club house.


- some of the older phases such as Vista Court don't have any security personnel (at least not in the foyer).


I'm sure those more familiar can add to these.


Regarding prices, you'll hear many opinions. Some are forecasting a doomsday for HK property, while others expect growth once people have become accustomed to the new measures introduced recently. My opinion for dbay is that in the short term there will be less transactions because foreigners will choose to rent to avoid the 15% stamp duty, and those selling will find it difficult to do so. That should give you a lot of bargaining power. However i assume many will hold onto their properties because of good rental returns. In the long term because of good rental yields prices will go up.


Good luck!

Thanks for your replies. When you say that Blossom is a long walk from the pier, how long does it take? Is it not served by a bus route?

Less than 15 minutes to the ferry, and the walk is up-and-down small hills.


There is a bus, that will also take you to DB Plaza (near where the ferry is), and/or you can take a second bus to the MTR station at Sunny Bus.