Property

The jewel of the Southern District - Repulse Bay

Repulse Bay

There has been some surprising real estate market news recently. Firstly, two of Hong Kong Housing Society's subsidised housing estates received 140 times more applications than the number of units offered. Secondly, a unit at ultra luxury complex Mount Nicholson at The Peak was sold at a staggering price of HK$130,200 per square foot, setting a new record for the Asia market. The former shows a serious disparity between housing prices and people’s income, while the latter seems to indicate that prices for luxury homes, even though already at a high, will continue to rise. With property prices soaring, it seems to be a bad time to enter the market; however, on the other hand, luxury homes are less likely to depreciate, and even have considerable growth potential, giving buyers huge confidence in their investments.

Located in the heart of the Southern District, Repulse Bay is home to many oceanside properties offering high living quality. The lack of new developments in the area gives these properties great appreciation potential and rent profits. “Repulse Bay enjoys beautiful views and a quality school net, and property units here tend to be on the larger side, making it a desirable area for families,” director of Knight Frank real estate agency, Josephine Lo, explains. The fact that the Southern District is a referred area for local celebrities also serves as a confidence boost for nvestors. “In October and November this year, No. 2 Cape Drive, a luxury home development by China Overseas Land & Investment Limited, had two big sales,” Lo adds. “Both units have a saleable area of 4,198 square feet, and were sold at a price of over HK$62,000 per square foot.

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>> Diving into Repulse Bay


Repulse Bay

Selected properties

Hong Kong Parkview

Located on 88 Tai Tam Reservoir Road, 27-year-old Hong Kong Parkview has 18 blocks, offering a total of 980 units, with areas ranging from 1,001 to 2,308 square feet. Adjacent to Tai Tam Country Park, the estate is surrounded by mountains, giving residents a high level of privacy. It has shuttle bus services connecting to the Central Piers, with stops in Admiralty, Wan Chai and Causeway Bay. Lo from Knight Frank tells us that Hong Kong Parkview saw 16 sales in the past six months as well as a 16% increase in prices. Hong Kong Parkview’s per-square-foot price falls between HK$23,00 and HK$30,000.


Parkview

The Somerset

Situated on 67 Repulse Bay Road, the standalone luxury highrise is 35 years old. With 13 floors and three units on each floor, it has a total of 37 duplex flats with construction areas between 2,464 to 3,099 square feet. Celebrity Nicholas Tse is said to have bought a 2,000-square-foot sea view apartment at The Somerset worth HK$85 million as a gift to his father.

Repulse Bay Garden

Completed in 1970 and located on 18-40 Belleview Drive, Repulse Bay Garden consists of six blocks, with 240 units, two on each floor. Most of them are three or four bedrooms, with a high-efficiency rate of over 90%. Knight Frank’s Lo says that six units from this estate were sold in the past eight months at HK$21,500 to 26,700 per square foot. Prices at Repulse Bay Garden have increased by nearly 20% in this period.

56 Repulse Bay Road

This low-density estate was built 23 years ago, with 12 blocks offering just 53 units. The saleable area ranges between 2,131 and 3,463 square feet with each unit featuring floor-to-ceiling windows and beautiful open views. Villa No.10, with a saleable area of 2,546 square feet, was recently sold at HK$165 million, or HK$64,808 per square foot.


56 Repulse Bay Road

>> 4 things to know before moving into Repulse Bay

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