Luxury property prices in upmarket Kowloon Tong are soaring. Centaline Property Agency says there has already been 60 transactions in the area and that it expects more before the end of the month. Centaline's district associate director Chris Chan said that during the past few months Kowloon Tong had attracted interest from buyers who wanted to get onto the luxury property ladder. He said there had been some involvement from speculators who believed they could make a short-term gain. One Kowloon Tong development offering luxury property buyers privacy and convenience at a competitive price - HK$13,000 per sq ft - is the Sunderland Estate at 1 Hereford Road. The low-rise development, completed in 1983, has 146 units, 116 of which are townhouses and 30 flats. Apartment sizes range from 1,942 sq ft to 2,009 sq ft and townhouses range from 2,104 to 2,885 sq ft. Although there are no major clubhouse facilities, the development has a playground, swimming pool and visitors' car park. According to Mr Chan, there are fewer than five units available for sale at the Sunderland. A seller made a profit of HK$7 million a few weeks ago by selling a 2,401 sq ft townhouse with a garden and a 1,241 sq ft roof top for HK$30 million. The property was bought in 2005 for HK$23 million. A 2,419 sqft three-bedroom townhouse sold for HK$25.3 million in June. The seller bought it in 1999 for HK$15.5 million, realising a profit of HK$9.8 million. However, Mr Chan said, 'Unless you are interested in buying a house and lot which may require major renovation, there are not that many properties available for sale in Kowloon Tong at present.' Most transactions completed this month have been large houses or lots. The average price per sq ft is more than HK$15,000. A 9,800 sq ft site at 10 Norfolk Road was sold for HK93.8 million this month. The seller bought the site in 1988 for HK$7.5 million, realising a profit of HK$86.3 million. There was a rare transaction of a 7,436 sqft house with garden and garage at Lancaster Place on La Salle Road. The property sold for HK$79.68 million this month. Also this month, a 3,710 sq ft house with a 1,314 sq ft garden at Mount Beacon sold for HK$72.83 million. Mr Chan said one property available at Sunderland was a 2,410 sqft townhouse and the asking price was HK$35 million. Rental yield has also been stable. The average price per sq ft at Sunderland is about HK$30.