A luxury house on The Peak was recently put up for tender, taking advantage of improved sentiment in the upmarket housing sector.
Tender for House No2 of the 10-house development a 74 Mount Kellett Road has begun and will close on September 18.
Agents said the property's selling price would be HK$35 million to HK$40 million.
The high-end residential market has been buoyant in the past two months. All five houses of Kelleteria in Mount Kellett Road, newly built by Sun Hung Kai Properties, were sold and all four houses of 3 Coombe Road, developed by Swire Properties, were also sold.
The average price for newly built houses ranged from HK$13,000 to HK$15,000 per square foot.
First Pacific Davies said townhouse developments built on Hong Kong Island in the past few years have been mostly for lease, with limited opportunities to buy.