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YAU YAT CHUEN IS THE modern face of Kowloon Tong, an area that has always been associated with old money.

It is a district which reminds people of the affluent lives led by the rich and famous of an era long gone.

For years locals thought the rich congregated in Kowloon Tong, literally Kowloon pond, and neighbouring areas such as Yau Yat Chuen.

This was reflected in the movies of the 1960s, which usually depicted a rich man stepping into a stretch limousine parked outside a Kowloon Tong house.

Eric Cheung Hop-man, assistant district manager of Midland Realty, said: 'It's a traditional luxurious residential area in Kowloon. Many entrepreneurs, especially those who ran factories, chose to live there.'

In the 1960s while manufacturing was fuelling gross domestic product in Hong Kong, Kowloon Tong was attracting most of the factory owners.

Yau Yat Chuen is situated in the heart of Kowloon Tong.

With developments such as Village Gardens and Parc Oasis, as well as the luxurious low rises on Cassia Road, Wistaria Road and Verbena Road, it is an attractive district.

'It is a solely residential area. There are no shops except for convenience stores such as 7-Eleven. The environment is very quiet,' Mr Cheung said.

'The transport is also easy here. The MTR and KCR stations are within walking distance.'

The transport network serving the area is probably the district's main strength. Apart from the MTR and KCR, franchised buses and minibuses connect Yau Yat Chuen to other parts of Kowloon.

The Festival Walk shopping complex, located near the MTR station, is another bonus for Yau Yat Chuen residents.

Shoppers will find a ParknShop super-store, cinemas and Chinese and Western restaurants, as well as numerous other stores selling everything from clothing brands and cosmetics to chocolates and pocket-knives.

'It's hard to find any location in Kowloon which is comparable,' Mr Cheung said.

Yau Yat Chuen hosts several low-rise houses which are older than other developments in the area. Most of them were built in the 1960s.

The size of the area's houses vary, with some as small as 500 square feet. The average, however, ranges from 2,000 sq ft to 3,000 sq ft.

'Many old entrepreneurs live here. [The area also attracts] a number of dog-loving house-owners as this area is more suitable for keeping a dog,' Mr Cheung said.

Property prices tend to differ a lot in Yau Yat Chuen due to the units' varying size and age.

The cheapest properties start at HK$2,600 per square foot, while the most expensive can be as much as HK$5,300 per square foot.

However, according to Mr Cheung, the average sales price in Yau Yat Chuen ranges from HK$3,200 per square foot to HK$3,400 per square foot, while rentals go from about HK$20 per square foot.

Compared with the low-rises in the area, the Village Gardens and Parc Oasis developments are the newest and best-designed projects in Yau Yat Chuen. Village Gardens was built in the 1980s and Parc Oasis in the 1990s.

Village Gardens comprises three phases. Units in phase one and two are larger, averaging between 1,700 sq ft and 1,900 sq ft in size. Properties in phase three measure on average about 900 sq ft in size.

The cost of Village Gardens' units ranges from HK$4,600 per square foot to HK$4,700 per square foot, with rentals averaging HK$20 per square foot.

Parc Oasis, the newest development in the area, is primarily home to younger tenants and owners.

'Rental transactions are most active in Parc Oasis compared with the other [developments]. Sixteen rental agreements for Parc Oasis were signed last month, while only three were signed for Village Gardens,' Mr Cheung said.

Parc Oasis has been attracting young middle-class professionals, mainly because it offers a wide choice of apartments. The smallest unit measures 547 sq ft and the largest 1,607 sq ft. Sale prices here range from HK$3,500 per square foot to HK$4,500 per square foot, depending on the size and quality of the apartment, while rentals average HK$19 per square foot.

The Parc Oasis development also has the added bonus of clubhouse facilities, which tends to attract more young people.

'Only Parc Oasis provides a clubhouse for people living in the area. There's a gym and swimming pool. The facilities are better than Village Gardens, which only has a swimming pool,' he said.

This does not mean there are no facilities for residents of the neighbouring low-rise houses to enjoy. But membership come with an exorbitantly high HK$550,000 price tag - a private club on Cassia Road provides a gym, swimming pool and a Chinese restaurant.

'Even the market price to transfer a membership is about HK$200,000. But almost half of the residents in the area are members of the club,' he said.

Another benefit for residents living in Yau Yat Chuen is guaranteed education on tap.

The area is full of expensive kindergartens, two universities, and a number of primary, secondary and international schools.

Next week: Beacon Hill

Within one of Kowloon's most salubrious neighbourhoods lies the attractive district of Yau Yat Chuen, a haven for people tired of tower blocks

FO01: Annette Chiu

Graphic: PRO17gwz



Low-rise living for city's high flyers