Northern New Territories locations, such as Fanling and Ku Tung, have become popular large-scale luxury housing projects. Sun Hung Kai Properties, China Overseas and Henderson Land have built hundreds of high-end houses with gardens over the past few years to a great market reception.
A key reason why homebuyers head to the remoteness of the northern New Territories is its close proximity to the mainland.
'Most buyers are mainland business owners who need to travel across the border a lot. The location is convenient'
Andy Chan, assistant general manager, Sun Hung Kai Real Estate Agency, developer of Valais
There are two generations of luxury houses in the northern New Territories. Traditional country houses, with a heavy colonial flavour, contrast with modern, resort-style homes, often located in prestigious sites, equipped with clubhouse facilities and exquisite planning by their developers.
Recent transactions include:
A 5,082 sq ft town house at Valais, developed by Sun Hung Kai Properties, sold for HK$87.82 million, at HK$17,300 per square foot.
A 2,912 sq ft town house at The Green, developed by China Overseas, sold for HK$41.06 million, at HK$14,100 per square foot.
A 5,898 sq ft town house at St Andrews Place, developed by Sino Group, sold for HK$63.8million, at HK$10,800 per square foot.
A 3,038 sq ft town house at Goodwood Park, developed by Sino Group, sold for HK$34.8million, at HK$11,500 per square foot.