Lifestyle

Stanley District Watch: A Favourite of the Rich and Famous



At the southern tip of Hong Kong Island, with a serene surrounding, Stanley is traditionally a luxury residential area. It is dotted with well-known property developments such as Regalia Bay, Sea and Sky Court, and Carmel Hill and is marked by low-density villas with panoramic sea views.

As Stanley is close to the Central commercial district, properties in this district are ideal for the self-occupied and for investment.

It is also worth noting that western tenants usually choose to rent a house surrounded by a beautiful environment. For those who have pets, a pet-friendly community is preferred and Stanley is such a niche market for them.

>> Related Article: Stanley Street Life ― The Effortless Getaway

 

Number of Deals

The demand for villas over a thousand square feet is high, but supply is rare. Moreover, most owners put the sales of their properties on hold until the offers reach their expectations. Thus, whenever there is a deal closed, the price is usually sky high.

In August, a villa of 2,788 square feet on No. 31, section B, at phase 2 of Regalia Bay, was sold for $61.88 million. It is said the owner bought the house for $43.8 million in 2004 and after 12 years has made a book profit of $18.08 million.

In addition, unit B at No. 39 Tung Tau Wan Road with a saleable area of 1,656 square feet, owned by Simon Murray, the former group managing director of Hutchison Whampoa, was sold at $50 million. It is believed Murray bought the house for $16.5 million in 2001. After 15 years, the price has tripled.



Recommendations

Shun Tak Holdings – No. 1 Horizon Drive, No 44, 46, 48 and 50 Chung Hom Kok Road
The project by Shun Tak Holdings on Chung Hom Kok Road provides five uniquely designed houses comprised of facilities such as gardens, outdoor swimming pools, garages and indoor elevators, and more importantly, each house has an independent number.

According to market research, in 2015 the number of villas on Hong Kong Island accounted for 16% of the total number of villas in Hong Kong; and among them, villas with numbers on the entrances were less than 5%.

Sun Hung Kai Properties – 50 Stanley Village Road
Located on 50 Stanley Village Road, this luxury property project by Sun Hung Kai Properties provides 12 three-storey detached houses, ranging from 2,725 to 4,076 square feet with facilities that include terraces, gardens, parking spaces and roof tops. Referring to its trade record, it costs about HK$48,000 per square foot.



Hotel Apartments in Demand

The property market of Stanley mainly offers villas of more than a thousand square feet targeting the family segment. The supply of medium and small-size units is very rare so the few hotel apartments in the district become an alternative choice.

The Stanley Oriental Hotel, located on Stanley Main Street, offers serviced apartments for monthly rental. Each room is equipped with a Jacuzzi and completed with selective furnishing, with a commanding sea view. The newly launched mini studio Stanley next to the Stanley post office offers serviced apartments for rent. It offers small units ranging from 60 to 100 square feet with sea views and rents out at HK$4,000 and above per month.

Facts and Tips

Burglary
Burglaries frequently occur in Stanley among the villas. While choosing a property, one should pay special attention to the security facilities, including the fence, pipes, rear door and the location of the rooftop, which are easily used by thieves.

If there is scaffolding near the property, remind the security guard to strengthen security measures such as increasing the frequency of patrols. Tenants may have to install an additional security system and purchase home insurance to minimise loss if a burglary happens.

Pet Paradise
Stanley is heaven for pets. It is particularly popular among dog owners because there are excreta collection bins, dog toilets and hand-washing facilities. The district has also held major pet events. If you are a dog lover, you will love this area. But if you are allergic to furry animals, it may be a bit difficult for you to live in this district.