The completion of the Tuen Ma Line is projected to boost local housing prices. According to JLL, residential demand in the Tokwawan area is likely to increase following the completion of the Tuen Ma Line. On June 27, the Tuen Ma Line, Hong Kong’s longest rail line, went into service. It connects Tokwawan, which was formerly unconnected to the rail network, with the east and west of the New Territories and East Kowloon. According to JLL, proposals for additional rail lines have typically resulted in capital value increases that surpass the market, as seen by the Kwun Tong line expansion. When the Tuen Ma line proposal was announced, however, this was not observed. “We believe residential demand in the area will increase in the near future, especially after the full completion of the Shatin to Central Link in 2022 and the extension of the East Rail Line across the harbour to Wanchai and Admiralty,” said Nory Lee, senior director of JLL’s Projects Strategy and Consultancy Department in Hong Kong. “As a result, if history repeats itself, home prices in the Tokwawan area should be able to rise considerably higher and even beat the general market.” According to JLL, home prices in Tokwawan have climbed by 57 percent since the Tuen Ma Line was gazetted in November 2011, which is slightly less than the 66 percent and 72 percent rises seen in Kowloon and Hong Kong generally. “URA plans to launch five residential redevelopment projects totaling 3,070 units in the 2019 financial year,” said Nelson Wong, head of research at JLL in Greater China. “The new rail line would further unlock Tokwawan’s redevelopment potential and is expected to attract the attention of developers,” Wong said. Get Hong Kong Business sent straight to your inbox. Your e-mail address is required. Since you’ve arrived, there are a variety of ways you may collaborate with us to promote your business and interact with your customers. Our team can assist you in planning and executing a print and digital advertising campaign, as well as on our website and in print magazines. We can also host a live or virtual event for you, bringing in thought leaders and industry leaders who could be possible partners. We also conduct certain awards programs that allow you to be acknowledged for your accomplishments throughout the year, and you can participate or sponsor them. Allow us to assist you in moving your business forward with the support of a good collaboration! I’d like to obtain a copy of the media kit./n
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