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SCMP Reporter

AT THE END OF the Hongkong Tramways' route is Shau Kei Wan, one of the earliest residential areas at the east end of Hong Kong island.

Previously a fishing village, Shau Kei Wan is characterised by a concentration of small to medium-sized apartments and an abundance of wet markets and Chinese temples. Shau Kei Wan's English name, Aldrich Bay, refers to a 19th-century British military officer.

There is a mix of old and new developments in the area, some being up to 40 years old. The newer properties, (less than five years old), make up just 20 per cent of the residential property market, according to property consultants in Shau Kei Wan.

The Shau Kei Wan Plaza, on Shau Kei Wan main road, is an eight-year-old development consisting of three blocks.

Apartments there range from 457 square feet to 597 sq ft, with two to three bedrooms, while the average sales price is HK$3,000 per sq ft.

Some of the other buildings in the area, which is purely residential, have smaller apartments with their size ranging between 300 sq ft to 400 sq ft.

'It is purely residential and has lower density compared to North Point,' said Alex Yau, assistant sales manager at Midland Realty's Marina Lodge branch.

The average sale prices of apartments in Shau Kei Wan is about HK$3,200, according to the property consultants.

'The apartments are not that big. Even if the old developments are torn down and replaced by new ones, the sizes are still rather small,' said Mr Yau.

The bigger flats are called Tong Lau and are in old-style residential buildings that have no lift services even though some comprise nine storeys.

These flats are more spacious, between 600 sq ft to 800 sq ft, with more usable areas compared with more modern flats, according to Mr Yau.

'But people do not usually buy them as they are too old [over 30 years] and they would have to pay a hefty sum for renovation.

'They normally rent them for HK$7 per sq ft,' he said.

For HK$5,000 you can rent a 600 sq ft Tong Lau, but do not expect anything more than an unfurnished flat in average condition.

Newton Harbour is a 10-month-old development by Henderson Land Development at Shau Kei Wan Main Street East and has the area's most expensive apartments, sought after by upwardly mobile buyers.

A two-block project, the apartments range from 546 sq ft to 944 sq ft with two to three bedrooms, and duplexes are about 1,400 sq ft.

The average transaction price in Newton Harbour is HK$3,800 per sq ft, while the rentals are HK$18 per sq ft.

The more expensive apartments, usually with good views and larger areas, are sold at about HK$5,000 per sq ft.

'As it is brand new, prices are higher and the apartments are furnished with electrical appliances, such as gas cooker, washing machine and fridge,' said Sharon Tong, assistant district manager at Centaline Property Agency in Shau Kei Wan.

'It also has a number of facilities such as a clubhouse and some of its best apartments have views of the old Kai Tak Airport over at Kowloon and Lei Yue Mun,' said Ms Tong.

The clubhouse includes function rooms, aerobics facilities, a gym and a swimming pool.

Other newer developments include Les Saisons by Swire Properties and Sun Hung Kai Properties, which started sales late last year and Fortune Court, completed early last year.

Perfect Mount Gardens is a popular development in the area next to the MTR station and is a 13-year-old, five-block property.

The apartments here range between 488 sq ft and 704 sq ft with two to three bedrooms, and the average sales price is HK$3,100 per sq ft.

The rentals average HK$14 per sq ft.

Compared with Newton Harbour, which has a usable area of 75 per cent including the bay windows, the usable area of apartments at Perfect Mount Garden is higher at 84 per cent.

A drawback of this development is that there are no facilities.

Shau Kei Wan is well-connected to other parts of Hong Kong by various modes of public transport, including the MTR, public buses and trams. 'Its transport connection is good mainly because of the MTR, tram and many minibuses going through to Wan Chai and Central,' said Ms Tong.

People living in Shek O, who have to change buses at the Shau Kei Wan bus terminus, make Shau Kei Wan an even busier place.

It is also well known for its large and colourful outdoor wet markets where shoppers can find reasonably priced fresh foods.

The outdoor markets are especially busy in the mornings as patrons come from all over the neighbouring residential areas, and even from far-off places such as Shek O, Taikoo Shing and Heng Fa Chuen for cheap, varied and fresh seafood at the wholesale fish market.

'Like in Aberdeen, the native fishermen have become wholesalers and sell their catches here, hence prices are cheap and the seafood is fresh,' said Ms Tong.

Next Week: Jordan Road

Graphic: pro14gwz



The former fishing village of Shau Kei Wan is a hive of activity with wet markets, Chinese temples and developments