Gold Coast in New Territories offers tranquillity and an affordable luxury lifestyle
Resort-style properties near the waterfront offer many attractions, are relatively inexpensive, and within easy commuting distance of the city
Most of us love the great outdoors and would love to live close to nature – if we could afford to. However, many Hongkongers are struggling just to get onto the property ladder, never mind being able to afford a home in Discovery Bay.
Nonetheless, a good alternative for those wishing to move closer to nature is Gold Coast, where homes are relatively affordable.
Set along the coastline of Castle Peak Road near Tuen Mun, Hong Kong Gold Coast is a resort-style waterfront residential development built and operated by Sino Land, which provides over 2,000 homes spread across 30 low- and mid-rise buildings.
A self-contained community and popular weekend getaway, Gold Coast offers a range of dining options at the Gold Coast Piazza, a Southern California-style piazza, giving diners a chance to chill and relax in an al fresco ambience.
The Gold Coast Yacht and Country Club is a large-scale residents’ clubhouse equipped with indoor and outdoor facilities, in addition to a full-service marina. Another popular weekend destination for Hong Kong and Kowloon residents is the Hong Kong Gold Coast Hotel, which offers a lovely beach with water sports at a reasonable cost for family holidays.
“Gold Coast is the only seaside complex comprising residential, yacht club, shopping mall and hotel development in Hong Kong. Our rental homes offer a luxurious resort lifestyle to residents, many of them expat families, who come from as many as 34 countries,” says Hilda Lai, deputy general manager of the leasing department at Sino Real Estate Agency.
Less than half of the Gold Coast units are owned by individual landlords, with some of the properties listed for sale in the secondary market.
Last month, a 721 sq ft flat on the 20th floor of Block 1 sold for HK$5.5 million in the open market, equating to HK$7,628 per sq ft. Another flat of 602 sq ft on the 12th floor of Block 2 fetched about HK$5 million, or about HK$8,389 per sq ft, according to Land Registry records.
The rest of the homes and blocks are owned by Sino as investment property.
According to Lai, the rental apartments offer sea views and consist of two- and three-bedroom homes, configured into 535 sq ft to 1,245 sq ft of saleable floor area. They can be rented for HK$12,000 per month upwards.
“We host different community-wide parties and special events, such as football leagues, water fun days. During festive times, we hold parties, like for Halloween, for residents of all ages, so that they feel a sense of belonging. The upcoming special event to be held at the Gold Coast Piazza will be the Peppa Pig Outdoor Carnival,” Lai says.
Other well-established residential developments surrounding the Gold Coast include The Aegean, a group of seven 29-storey buildings on the waterfront offering 1,624 units, and Avignon, which comprises 10 apartment buildings and 30 townhouses, offering 459 homes combined.
Also nearby is Spring Seaview Terrace, a smaller complex of three 10- to 12-storey blocks, providing three to four bedrooms, located near the beach. Monte Carlo Villas is a low-density development comprising 20 two-storey townhouses at 2,044 sq ft to 2,216 sq ft.
Recently completed, The Drake is the latest low-density development found within the neighbourhood. The gated community offers spacious family-oriented homes to let, including 37 three- and four-bedroom apartments (1,501 sq ft to 1,955 sq ft) spread over two towers, and 38 four- and five-bedroom houses with gardens and rooftop terraces (3,610 sq ft to 4,900 sq ft).
Monthly rents in this development range from HK$30,000 for the smallest three-bedroom to HK$130,000 for the biggest five-bedroom house, exclusive of management fees and government rates, according to Billy Wong, an assistant manager (projects) at JLL Hong Kong, the sole leasing agent for The Drake.
“The Drake is quietly tucked off Castle Peak Road [Tai Lam], located closer to Sham Tseng, and therefore enjoys a better traffic flow and relatively shorter commute time to the city, while staying close to Harrow International School Hong Kong and the future Mount Kelly International School,” Wong says.
With Kerry Properties’ The Bloomsway and Wheelock Properties’ Napa, both located in So Kwun Wat near the Harrow International School campus, expected to be delivered in 2017 and 2018, respectively, the Gold Coast community appears to be extending outwards to cover a wider area.
Two further residential projects have also entered the development pipeline recently.
In August, the Buildings Department approved the plans for two more developments within the area.
One of them is a low-density development at Castle Peak Bay being built by Poly Property (Hong Kong), where 22 three-storey houses totalling 115,000 sq ft of gross floor area will be built.
Vanke Property (Hong Kong), another heavyweight property developer from the mainland, has also had the building plan for its So Kwun Wat project approved. It will comprise 30 three-storey townhouses as well as five 19- and 20-storey apartment blocks.