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SCMP Reporter

SIMPLICITY, A LAID-BACK atmosphere and surrounding greenery would put residents at ease as they return home to Siu Sai Wan.

It is a quiet neighbourhood, close to Chai Wan, at the eastern end of Hong Kong Island, which consists of one big private development and a few government-owned estates.

The suburb lies a few minutes' bus ride away from the nearest MTR station at Chai Wan.

The bus ride, though short,can be quite demanding as the vehicle twists and turns through sharp bends, negotiating the hilly landscape.

On reaching Siu Sai Wan, it is possible to see almost all the developments and everything else contained in the estate in one sweep.

The main housing complex consists of five Home Ownership Scheme (HOS) developments built by the Government. The rest of the developments in the area consist of a few blocks of public housing and one private development - Island Resort.

The buildings surround a bus terminus and a taxi stand, which provide the only gateway in and out of Siu Sai Wan.

The Siu Sai Wan estate is newer and property prices are cheaper than elsewhere in Hong Kong, due to the distant location of the place.

The oldest HOS apartments are about 11 years old, while the most recent additions were built four years ago.

An older HOS apartment in the secondary market costs about HK$2,500 per square foot, such as one available in Full View Garden, according to Robin Tse, assistant district manager of Midland Realty at Shau Kei Wan.

'A similar apartment in Kornhill would cost about HK$200 per sq ft more at HK$2,700 per sq ft,' Mr Tse said.

The layout of the housing estates in Siu Sai Wan is such that the development surrounds a number of education institutions.

This convenience has attracted many young families and 'upgraders' from neighbouring residential estates such as those in Shau Kei Wan and Chai Wan.

A middle-aged cab driver 'upgrader' who moved into his HK$900,000, approximately 600 sq ft, apartment a few weeks ago said that cheaper prices and a proximity to Chai Wan were the main pull factors of the area.

He said he grew up in Chai Wan and would like to continue to live close to his family, which is still the main consideration for many Hong Kongers when choosing somewhere to live.

The only private development in Siu Sai Wan estate is the Island Resort, developed by Sino Land.

Island Resort, still under construction, is one of the largest private developments on Hong Kong Island, comprising 3,098 units. The apartments will be ready for occupation in June.

Such large-scale developments are few on Hong Kong Island and more commonly found in New Territories.

As Siu Sai Wan is opposite Lei Yue Mun, on the other side of the harbour, a number of its apartments have a sea view.

Built on reclaimed land, Island Resort apartments also have sea views, looking out over the harbour towards Tseung Kwan O.

The development consists of eight luxury 64-storey towers.

According to local agents, it is possible to take a boat from Island Resort across the strait to Clearwater Bay, taking no longer than 15 minutes.

The 320,000 sq ft clubhouse at Island Resort provides a wide range of recreational facilities and amenities. Outdoor facilities include a swimming pool - surrounded by waterfalls - two tennis courts and children's playgrounds.

Indoor facilities include a four-alley bowling centre, a gymnasium overlooking the sea, a rock-climbing room and function rooms.

The Siu Sai Wan Sports Ground, which stands on reclaimed land next to Island Resort is a popular venue for football matches and sports meets.

According to property agents, about half of the units in Island resort have been sold since the launch in February. During the same period, prices of properties have fallen by more than 35 per cent.

However, agents say that following the recent interest rate cuts, home sales in the Hong Kong property market have picked up again.

'The prices would not drop further as the market has already stabilised,' Mr Tse said.

Apartment sizes in Island Resort range from 480 sq ft to 1,225 sq ft. For HK$2 million, one could purchase an apartment measuring 480 sq ft to 650 sq ft, depending on the view, Mr Tse said.

The apartments in Block 6 are the most expensive as they feature a full sea view and face the monsoon-friendly southeast, which Hong Kongers prefer. An apartment in this block costs about HK$5,500 per sq ft compared with HK$3,800 per sq ft for other apartments, the agent said.

Yum cha  restaurants, fruit stalls, provision shops and convenience stores such as 7-Eleven and K-mart are found on the ground floors of the residential blocks.

Also serving the needs of the community is the Siu Sai Wan Shopping Centre, where there are clinics, a supermarket, bigger restaurants, furniture shops and activities for children.

Additionally, a 200,000 sq ft shopping mall at Island Resort will be ready soon.

Next week: Central

Graphic: pro08gwz



Simplicity, sport and sea characterise Siu Sai Wan, a tranquil suburb only a few minutes drive past the last MTR station on the Island Line. Surrounding greenery ensures a pleasant living environment