Residence Bel-Air on Cyberport Road in Pok Fu Lam is popular among luxury property buyers and tenants since the launch of the first of six phases in 2003. Some owners have sold properties for short-term gains. A 2,378 sqft four-bedroom flat with sea view sold for HK$30 million last week. The seller bought the flat in 2007 for HK$24.58 million, netting a capital gain of 22 per cent over two years. Another transaction was for a 1,560 sqft three-bedroom flat with sea view. The seller bought the flat two years ago for HK$16.38 million during the launch. The flat was sold in June for HK$18.64 million, netting a gain of 13.4 per cent. Centaline Agency district associate director Patrick Lam, who oversaw these transactions, said that the majority of sellers, who bought the properties during the launch, were able to make a profit on resale, especially over the past few months. 'Bel-Air has a wide appeal,' Mr Lam said. 'It has the whole package - good infrastructure and facilities. It has gained an international reputation.' The clubhouse offers residents the use of facilities such as a gym, playground, saunas, squash courts, swimming pool and tennis courts. Cyberport is about 15 minutes from Central and 10 to 20 minutes from the beaches of Deep Water Bay, Repulse Bay and Stanley. Bel-Air offers a range of different types of property, including high-rise flats, duplexes and detached houses. Buyers can choose from a smaller property, such as an 835 sqft flat with an average price per sqft of about HK$9,000. Or choose either a two-storey or three-storey detached house. Some properties of more than 9,000 sqft come with a price tag of between HK$80 million and HK$100 million. There are still a few new properties available which were held by the developer. But interested buyers can find more than 250 properties available for sale in the secondary market. Average price per sqft for larger flats is between HK$12,000 and HK$14,500. A 1,601 sqft three-bedroom flat with sea view and parking space was sold for HK$20.15 million last week - the average price per sqft was HK$12,586. Mr Lam said the supply of detached houses was limited. The lowest price per sqft for a detached house in the secondary market is at least HK$20,000. And some sellers are asking for HK$30,000, according to Mr Lam. He said rents had been stable. The average rent is about HK$28 per sqft for smaller flats and can go up to HK42 per sqft for larger properties. Although recent buyers were mostly end-users, Mr Lam said that Bel-Air had also been popular among tenants. More than 40 properties were rented out in July.