Affordable luxury in Kowloon Tong

PUBLISHED : Friday, 30 July, 2010, 12:00am
UPDATED : Friday, 30 July, 2010, 12:00am

Looking for a cosy apartment in the middle of the city, but you don't want to blend in with other expatriates in the Mid-Levels? Properties on Kowloon side could serve as an alternative.

With a large range of properties, there are more than just a handful of choices in Kowloon. At Kowloon Tong, one of the more luxurious areas, houses and low-rise flats can be found.

Fifteen per cent of the properties are houses and the rest are flats.

Houses in the area are large and there have been eight sales, with the most expensive transaction costing HK$430 million this year, according to Centaline Property Agency's statistics.

'Kowloon Tong is a luxurious area. However, a majority of the properties in the area are targeted at the mass market,' says Chris Chan, StatelyHome's senior district associate director for Kowloon Tong at Centaline.

Parc Oasis at Yau Yat Chuen, Kowloon Tong, is one of the estates that boast 32 blocks of low-rise buildings.

With 10 floors, there is a 703 sqft ground floor apartment for sale. The unit has two bedrooms, including one with an en-suite bathroom, and there is also a 442 sqft garden. There are also car parks that tenants can purchase separately.

Clubhouse facilities include a swimming pool.

The asking price is HK$8.38 million, or HK$11,920 per square foot.

Although prices are similar to units in Mid-Levels, Parc Oasis offers greater convenience, Chan says.

The complex is just a few minutes away from the Festival Walk shopping mall, and the Kowloon Tong MTR station is located next to the mall.

Most of the properties in Kowloon Tong, including the unit on sale, have no view, and those that do overlook the mountains or the city.

A 1,371 sqft unit at One Beacon Hill is on the market for HK$14.8 million. or HK$10,795 per square foot.

The unit offers a mountain view and three bedrooms, including one with an en-suite bathroom.

Prices and the number of transactions in Kowloon Tong are always steady, with 110 transactions last month and more than 140 this month, according to Centaline.

Property prices in the area have risen slightly since April, but Chan predicts they may go up another 10 per cent this year.