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SCMP Reporter

A step up from owning just a house is owning your own plot of land with a house, garden, rooftop and car park.
This may seem a little outrageous for a city well-known for its high cost and scarcity of land.
Yet there are still some people who are interested in looking for their own piece of heaven. 
'The practice of buying a 'single-lot house' is not uncommon in Hong Kong. The demand is fairly high yet there's a lack of supply,' said Frances Chow, director of residential sales for Kowloon and the New Territories at Savills.
A single-lot house at 2 Dorset Crescent, Kowloon Tong, is on the market with an asking price of HK$150 million to HK$160 million. 
The house was built in 1994 on a 10,173 sqft block of land with a plot ratio of 0.6. It faces Cornwall Park and the mountains.
The house has two floors and four apartments, each 1,500 sqft with three bedrooms, two on each floor.
The ground-floor apartments each have a 700 to 800 sqft garden and the second-floor ones come with a 1,200 sqft rooftop.
The car port can fit up to eight cars. 
According to Savills, the new owner could remodel the whole house and turn the four apartments into one big living area, two semi-detached houses or keep it as it is. 
The property has been on the market since the beginning of the month and there have been several interested buyers.
Unlike most properties on the market, this one can only be bought through public tender. Interested parties can make their bids on or before November 6.
The slight downside of the property is that there are still tenants living there and the last one does not have to move out until  2011. 
Nevertheless, the sales agent is not worried that this will affect the sale or price of the property. 
'People are willing to wait for a period of time before being able to own the entire property because these single-lot houses are rare,' Chow said.
Chow said the asking price was reasonable compared with that sought for other single-lot properties.
A single-lot house of 9,900 sqft in Somerset Road, Kowloon Tong, was sold for HK$140 million last month.
Like other residential property prices all over the city, the price of single-lot properties in Kowloon Tong has risen 30 per cent since June, when prices started rebounding in the wake of the economic meltdown that started at the end of last year, according to Savills. 
During the financial crisis there were fewer property transactions in this category because the owners of single-lot houses had a strong 'holding power' and did not want to sell at a loss, the sales agent said.



Kowloon Tong gem far more than just a house