Activity in the luxury sales market in Kowloon Tong increased in the first quarter of the year following the announcement of stronger economic data, according to Chesterton Petty.
Home prices in the area had stabilised in a range of HK$6,000 to HK$7,000 per square foot, the consultant said.
Sales prices for new high-quality townhouses were at HK$7,500 to HK$8,500 per sq ft.
Stafford Gardens, a new luxury project, was being offered at about HK$8,800 per sq ft.
Chesterton Petty said that the leasing market, particularly the market for townhouses, was relatively inactive compared with the sales sector.
Monthly rentals for townhouses in Kowloon Tong were at HK$60,000 to HK$80,000 at present, while detached houses were being rented at more than HK$120,000 per month.