HK$43.8m for house with sea view

PUBLISHED : Friday, 23 July, 2010, 12:00am
UPDATED : Friday, 23 July, 2010, 12:00am

Demand for property in the Clearwater Bay area is rising, according to Sunshine Property Consultant. However, the number of available homes on the market has fallen.

'There has been a noticeable increase of interested buyers asking about properties [at Clearwater Bay], but the prices set by the owners are still too high and people don't want to pay that amount yet,' says Mathew Chung Kwong-yiu, sales manager at Sunshine Property Consultant. 'Property owners are hesitant to put their homes on sale because they might not be able to buy back a similar house or apartment for the [same] price. [Home] prices are still rising.'

There are 50 properties up for sale in Clearwater Bay, according to the consultancy, and Chung says this figure is low. 'There are over 1,000 properties in Clearwater Bay and during peak periods, we would have at least over 10 per cent of the total number of properties up for sale.'

A 2,300 sqft house in Scenic View Villa, on Silver Cape Road, is on the market for HK$43.8 million, or about HK$19,000 per square foot.

The home has three bedrooms, including one with an en-suite bathroom, and is newly decorated.

Facing the sea, there is also a terrace included and car park places.

With a superb interior decor, designed by the homeowner who is an architect, Chung says the price of this house is slightly above average for the area. He says the average price per square foot for houses with sea views starts from about HK$18,000 and can go up to HK$20,000. Those with an open view are less expensive at about HK$13,000 per square foot.

A house on Kam Shue Road, with an open view, was sold for HK$19.9 million recently. The 2,500 sqft property also has three bedrooms.

With properties able to fetch up to HK$20,000 per square foot, Chung does not expect prices to get any higher. 'Property prices are already at their peak. [There has been] a 10 per cent rise since January, so I don't expect there to be another round of price increases this year,' Chung says.

As for low-rise apartments in Clearwater Bay, prices are less expensive. The average price per square foot ranges from HK$8,000 to HK$9,000, but a majority of these apartments don't have sea views.

An apartment estate facing the sea, such as Casa Bella, costs more, starting from about HK$13,000 per square foot.