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The Unique Appeal of DB Living

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Insights from Thorsten Allenstein, manager of OKAY.com in Discovery Bay

Ask realtor Thorsten Allenstein, manager of OKAY.com in Discovery Bay, what makes the resort such a unique and desirable place to live, and he focuses first on the strong sense of community. “Many people think of DB as a transient society but in fact there are many long-term residents, who have been living here for years. DB is safe, convenient – 25 minutes to Central – and a real haven for outdoor enthusiasts. On top of that, it’s family friendly with excellent schools, like Discovery Bay International School, ESF Discovery College and Discovery Montessori School.”

All this translates into high demand and high prices for homes. “Yields in DB are double those on Hong Kong-side, so it’s a great market for investors and home seekers alike,” Thorsten says. “After prices deflating for the last two years, we seem to have reached a plateau and expect to see price increases in the second half of the year.”

In DB since 2003, Thorsten is in a good position to reflect on changes in the local market, and anticipate trends. “We are seeing shifts in buyer preferences: more and more locals and mixed couples from Hong Kong Island and Kowloon are interested in DB. Importantly too, due to the population cap of 25,000 imposed by the Government on the developer, we foresee a strong increase in prices in the coming years.”

So what advice would Thorsten give to someone who is considering buying or selling a home in DB? “For sellers: find an agent/agency who has the potential to market the property beyond the borders of Hong Kong. For buyers: work with an experienced real estate professional, like OKAY.com, who has in-depth knowledge of the local market.”

Thorsten is quick to point out that his team of expert realtors takes pride in working with clients to find homes that satisfy their needs and desires. “We ask our clients detailed questions about their lifestyle, preferences and budget, while also providing information about the area’s history, culture and amenities. We use our knowledge of the local market and community to guide our clients to find the best fit.”

Just as importantly, OKAY.com’s DB team plays its part in fostering a sense of community and helping new residents feel welcome and integrated. “We make a point of connecting clients with local resources and events, and introducing them to their neighbours – other residents that we have relocated to DB,” Thorsten explains. “We organise events like BBQs in the common areas to welcome newcomers, and we join them in communitybuilding activities like beach clean-ups and dragon boat racing. All this helps our clients settle in faster and establish immediate connections.”

OKAY.com
The award-winning real estate agency that focuses on accurate property listings, with property agents dedicated to helping, not hard-selling.

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