Residential property priced at more than HK$100 million in Hong Kong is rare and out of most people's price range. So Savills, which is handling the sale of House 3 in Turtle Cove, Tai Tam, for HK$130 million does not expect a quick transaction. 'Although it is a house and the price tag is reasonable given the size, it is a lot of money, so it puts many people out of the running,' said Keith Chang, director of development and investment at Savills. On top of that, Chang said the location was not ideal for most buyers. 'Most residential property buyers now are from the mainland and they look for new apartments and houses that are in convenient locations rather than discreet places that offer a quiet lifestyle,' he said. However, there is still a steady market for these houses, although a small one. According to Savills, the economic meltdown sent house prices down but sales volume went up. This was because buyers thought they were getting a good deal as property prices would eventually rise again. The three-storey, semi-detached house in Turtle Cove has a gross area of 5,000 sqft, five bedrooms and three parking spaces. There is a living room and dining room on the ground floor, with a balcony that directly accesses the communal swimming pool, garden, kitchen and guest toilet. The first floor includes the master (en suite) bedroom with a walk-in closet, a study room, two maids' quarters and a bathroom. Another en suite bedroom, two other bedrooms, a family room, two bathrooms and storage space are on the second floor. The roof garden overlooks the sea and all of the houses in Turtle Cove have private access to Turtle Cove beach. The other five waterfront townhouses in Turtle Cove are occupied. Another house in the area, in Villa Rosa, 88 Red Hill Road, Tai Tam, is for sale at HK$110 million, or HK$27,778 per square foot. It is a three-storey house with a gross area of 3,960 sqft and has three en suite bedrooms and a garden which overlooks the sea. There is also a communal swimming pool.