The red-hot property market is showing no signs of cooling down, especially in the luxury sector. In Tai Tam, a townhouse will go on sale through public tender, with the closing date at noon on August 12. Keith Chang, deputy senior director of residential development and investment at Savills, says the owners are unlikely to sell unless the price reaches HK$110 million to HK$120 million. However, he says the price is lower compared with other townhouses in the area. 'For areas with limited stock [of available properties], like in Tai Tam on Island South, there are no slow periods as everything is decided by the will of the buyers and sellers,' Chang says. 'Any time of the year, if there is stock on the market, there will definitely be interested buyers as houses in the area are not often for sale. But owners will wait until there is an offer they think is reasonable.' At the moment, there are less than 10 properties on sale in Tai Tam, according to Savills. The townhouse up for sale is in Le Palais at 8 Pak Pat Shan Road. There are 34 townhouses at the estate. They are split into two rows and come in two different sizes, with houses at the back row being 3,300 sqft. Front-row houses are 4,372 sqft and enjoy full sea views. Savills says there are no other owners keen to put their houses up for sale. The townhouse on the market is located at the front row and has three floors with four bedrooms, two of which have en-suite bathrooms. It also has a spacious family room, overlooking Turtle Cove Beach, and there is also a car port with space for two cars. Full clubhouse facilities, such as a gym and swimming pool, are also available for residents.