Opening of new East Rail Line section to boost home prices

The extension of the East Rail Line will shorten travelling time for residents.

Prices of residential properties along the East Rail Line New Territories portion will boost its momentum in the short-to-medium term, following the new East Rail Line cross-harbour section’s opening, real estate analyst, JLL, said.

In a statement, JLL said the extension of the East Rail Line to Hong Kong Island will cut travelling time between New Territories and the urban areas on Hong Kong Island. This improved connectivity will be conducive to demand for residential prices in the New Territories supporting their capital values.

To further prove its point, JLL cited that residential price in Whampoa went up 24% in the overall market when the Whampao station of the Kwun Tong Line extension opened in October 2016 and year-end 2017.

Provided that the properties are “reasonably priced,” JLL Greater China Research Head Nelson Wong said they have the great potential to become the next “hotcake.”