The perfect match of exclusivity and convenience is on offer at Shouson Hill's Bay Villas, on the south side of Hong Kong Island. All residents of the eight-house estate are tycoons, says Terry Chan, StatelyHome senior account manager at the Deep Water Bay branch of Centaline Property Agency. Residents are just a one-minute walk away from Hong Kong Country Club, a two-minute drive from Hong Kong Golf Club in Deep Water Bay and a five-minute drive from Aberdeen Marina Club. The estate has one house for sale - the first since the establishment of Bay Villas in 2003. Centaline, the sole agent, says the property has been on the market for two weeks and there are already potential buyers, so it expects a transaction will be completed within one month. The 4,869 sqft house has three floors with four bedrooms, three of which come with an en-suite bathroom. A balcony is attached to the master bedroom, while the front and back yards cover 1,000 sqft. The garage can park up to four cars. The house, which was last renovated in 2006 and has been well maintained, has a perfect sea view facing Deep Water Bay. Although there are no facilities on the estate, there are plenty of private members-only clubs nearby. The asking price for the house is HK$245 million, rounding up to about HK$50,000 per square foot. In the area surrounding Shouson Hill, only about 5 per cent of houses have a complete sea view. Recently, two houses in the area were sold for HK$70 million to HK$80 million, but they were located in old estates and had no sea view. The age of the housing estate also plays a big part in setting the price of properties. 'The newer houses are of bigger sizes, starting at about 4,000 sqft, which is a lot bigger than the older houses of about 3,000 sqft,' Chan says. Apart from houses, there is also a selection of low-rise properties in the area. Their prices are about half those asked for houses. According to Centaline, the average price per square foot for low-rise properties, that have five or six floors, is HK$20,000.