Pok Fu Lam duplex for HK$43m

PUBLISHED : Friday, 11 June, 2010, 12:00am
UPDATED : Friday, 11 June, 2010, 12:00am

Are you looking for a home for your immediate family to live in, but don't want to pay huge amounts for a property?

Duplex apartments may be the answer, as they are usually limited to the top floors of residential buildings.

Even in the south side of Hong Kong, where larger homes are popular, duplex apartments only account for about 10 per cent of properties, based on Centaline Property Agency's figures.

Some rare exceptions, such as Royalton at 118 Pok Fu Lam Road and The Manhattan in Tai Tam, have a number of duplex apartments.

A duplex apartment on a high floor at Royalton is on the market with an asking price of HK$43 million.

The 3,250 sqft duplex has two floors, with the living room and dining area on the bottom floor and bedrooms on the second floor.

There are four bedrooms, including two with en-suite bathrooms.

The design of the living room and the master bedroom are quite unique, with floor-to-ceiling curved glass windows acting as walls. The apartment overlooks the sea and mountains.

With one car park included, there are also residential facilities such as a swimming pool and gym.

A special feature of Royalton is that the lift also serves both floors of duplex apartments, meaning owners can take the lift up to the second floor of their apartment, which is convenient for the elderly.

Royalton was built 13 years ago and there are 22 floors in the building.

Centaline says the owners may be willing to negotiate on the price.

Home prices in Pok Fu Lam are dictated by views, instead of the style of the property, says Ada Ng, Stately Home's regional associate director for Mid-Levels West at Centaline.

A 2,160 sqft simplex apartment in Royalton was recently sold for HK$22.4 million, or about HK$10,370 per square foot.

It was a four-bedroom home with a sea view. The average price of apartments in Pok Fu Lam is about HK$10,000 per square foot, Ng says, and a majority of them have an open view, so interested buyers may have to pay a bit more for a sea view.

Compared to the Mid-Levels, which has an average price per square foot of about HK$12,000, Ng says Pok Fu Lam is a more reasonable choice.

Although property sales in Hong Kong have been affected since April by the government's policies to cool the red-hot market, the Pok Fu Lam area has seen an increase in sales.

Centaline says there were six transactions in April and 21 last month.