Island South unit for HK$23m

PUBLISHED : Friday, 16 July, 2010, 12:00am
UPDATED : Friday, 16 July, 2010, 12:00am

Homeowners in Shouson Hill are tightly holding on to their properties. They are hoping to get better offers when the new Sun Hung Kai residences at 9 Shouson Hill Road are put on sale next year, according to estate agent Savills.

'Most property owners would rather rent out their apartments or houses rather than sell them, as they find it more profitable,' says Frederick Ho, assistant manager of residential sales at Savills.

Rents for units in the area start from about HK$50,000 per month, and there are only two low-rise apartments on sale in Shouson Hill at the moment, according to Savills' figures.

Ho says he expects prices in Island South to rise when Sun Hung Kai's residences go on sale next year,

The average price per square foot of a low-rise unit with a mountain view in Shouson Hill is about HK$16,000 to HK$18,000.

Those with sea views are about HK$20,000 per square foot.

'A majority of properties in Shouson Hill have a mountain view and only 20 per cent of apartments and houses have sea views, so they are pricier,' Ho says.

A 1,650 sqft low-rise unit in Goldson Place, at 11 Shouson Hill Road West, is on the market for HK$23 million, or about HK$13,900 per square foot.

With a mountain view, the apartment is located on the top floor, with two bedrooms and en-suite bathrooms.

Floor-to-ceiling soundproof windows give the unit a bright and airy feeling.

It also has a 1,650 sqft rooftop with a jacuzzi and a barbecue area.

One car park spot is available for tenants.

With only one apartment building, there are eight units and a communal swimming pool for residents.

Goldson Place is located at the end of the road, providing plenty of privacy for residents.

Savills, the sole agent, predicts the apartment will be sold within a couple of months, similar to the unit next door that sold for HK$22 million in April. Another unit at 12-14 Shouson Hill Road West is also for sale, but is more expensive.

The 2,200 sqft top floor apartment with three bedrooms is on the market for HK$40 million.

It also has a rooftop facing the mountains and one car park space. But there are no communal facilities for residents.