Sai Kung's cost effective homes

 Sai Kung's cost-effective homesIt is no secret that owning your first property in Hong Kong is a difficult task, but for existing home-owners, switching to a new home can be just as frustrating. On the one hand, developers are building smaller units these days to meet the market demand; on the other hand, the secondary market supply is greatly limited due to the government's heavy levy and "spicy" measures. Adding the fact that the overall property prices are on the rise, many looking to upgrade to a bigger home dare not act rashly at the moment.

Despite the constant record-breaking home prices of Hong Kong, not all districts in our city are becoming unaffordable. Known for its serene, beautiful natural environment, Sai Kung offers plenty of practical village houses as well as apartments with mountain views or sea views. Both types of property are spacious and remarkably cheaper than homes of similar sizes in the city. The only drawback perhaps is the relatively underdeveloped transportation system in the area, but it still makes for a good option for those currently thinking of moving into a larger unit.

"Sai Kung is blessed with breathtaking natural surroundings and animals, hence it has been a favourite among expats living in Hong Kong," says Marco Ma, senior manager at Eastmount Property Agency. "But we also have a lot of local families who are drawn to the nature, and the large pet-friendly spaces here. Currently, a 2,100-square-foot village house in Sai Kung can fetch a monthly rent of HKD50,000-80,000. If you choose to rent a single-floor inside a house, it will be around HKD15,000 a month, or approximately HKD20,000 with the rooftop, depending on the quality of the property. Such a sea-view village house is sold at around HKD20 million, which means that the per-square-foot price can be as low as under HKD10,000."

Marco adds that Hong Kong Academy--which has a kindergarten, a primary school and a middle school--moved from Kennedy Town to Sai Kung a few years ago, and as a result boosted the number of people seeking properties in Sai Kung. In addition, village houses with housing estate-style management in the area are well-received by buyers and renters, the reason being that these properties boast higher saleable area ratio and much cheaper management fees compared to similar homes in the city. The management fee for Jade Villa, for instance, is around HKD1 per square foot.

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Selected properties

Mount Pavilia

Located on 663 Clear Water Bay Road, this development is comprised of multiple four- to seven-story buildings, with a total of 680 units measuring at 409-3,372 square feet each. Many units are three- or four-bedroom large apartments, while nearly half of all the offerings are special units. During the first two rounds of sales, a special ground-floor garden unit in block 11, with a saleable area of 1,732 square feet, was sold at HKD39.17 million, or HKD22,620 per square foot, setting new records for the highest per-square-foot price for the development, and for a flat in the district. 

Mount Pavilia

Marina Cove

Adjacent to the scenic Hebe Haven, Marina Cove is a 30-year-old development situated on 380 Hiram's Highway. An established estate in the area, it offers 463 townhouses, and two apartment buildings with a total of 72 units. Estate facilities include yacht terminals, clubs and shopping malls. A phase-1 unit with a saleable area of 1,048 square feet and a 1,000-square-foot garden was recently purchased at HKD26.48 million.

Marina Cove

Clover Lodge

Boasting a premium location on Tai Mong Tsai Road, with the Sai Kung West Country Park serving as a beautiful backdrop, Clover Lodge features a number of village houses with estate-style management and an average age of 32 years. The development is also adjacent to Tsam Chuk Wan and overlooks Wong Yi Chau. There are a total of 21 houses, divided into four rows. Front-row properties enjoy unobstructed sea views. At the moment, a village house in Clover Lodge with a gross floor area of 2,100 square feet is selling at HKD14.3 million.

Things to know before moving into Sai Kung
Sai Kung

Village houses with gardens or rooftop terraces

When purchasing village houses with gardens or rooftop terraces, make sure to check if the garden or rooftop is included in the lease, and how much of the area is included. If the garden belongs to a short-term government lease, apart from paying for the lease, you may also have to deal with the possibility that your right to use will be revoked. Ask your real estate agency or the property owner about this before making a purchase.

Village houses with parking spaces

Due to the flaws in the plans of older developments, owners of certain village houses in the area may have to pay toll when driving on private roads; while others may find that parking is not allowed in spaces around their properties as they are government-owned. Enquire with your real estate agency or the property owner about these issues. We suggest to include verbal agreements into the contract to avoid potential disputes in the future.

School net

The district belongs to primary school net 95, which includes Tseung Kwan O Catholic Primary School, Christian and Missionary Alliance Sun Kei Primary School and Saint Andrew's Catholic Primary School. Its secondary school net belongs to Sai Kung District, which has King Ling College, Logos Academy and Christian and Missionary Alliance Sun Kei Secondary School. The district also has international school Hong Kong Academy.

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