Luxury Repulse Bay unit for HK$28m

PUBLISHED : Friday, 27 August, 2010, 12:00am
UPDATED : Friday, 27 August, 2010, 12:00am

Showing confidence in the property market, luxury homeowners on Hong Kong Island are refusing to lower their asking prices for homes they are attempting to sell.

'Owners are refusing the lower their asking prices because they are not anxious to sell their properties, as they know that there is a limited supply of [homes] on Hong Kong Island. [At the same time] buyers are also not [willing to pay] these [high] prices, as they are waiting to see if [the market will cool],' says Christine Chong, associate director of Landscope.

However, one luxury apartment on Hong Kong Island is up for sale at Hong Kong Parkview in Repulse Bay.

The 2,105 sqft apartment has an asking price of HK$28 million, or about HK$13,300 per square foot.

There are three bedrooms, two including en-suite bathrooms, and a combined living and dining room. The unit is decorated, but unfurnished.

The mountain view unit also comes with a covered car park space.

Residents at Hong Kong Parkview enjoy extensive facilities, including indoor and outdoor swimming pools, tennis courts, squash courts, a children's playground, saunas, aerobic exercise room, Jacuzzi, billiards, function rooms, a bar and lounge.

Chong, who is the estate agent for the apartment, says the price is right, so it should be sold quickly.

Another apartment on a higher floor in the estate, with a sea view, is on sale for HK$34 million, or about HK$18,500 per square foot.

The 1,837 sqft apartment has three bedrooms and a covered car park space is provided. The average price per square foot for apartments where Parkview is located is about HK$20,000.

At the middle part of Repulse Bay, which starts from 37 Repulse Bay Road to Repulse Bay Garden at 34 Belleview Drive, the average price per square foot for apartments with sea views is about HK$27,000 per square foot.

Apartments with mountain views fetch about HK$20,000 per square foot.