Property

Selected Properties in Central

Central

Central’s nearby Mid-Levels poses as a viable option for the affluent community as it has traditionally been marketed as an upscale neighbourhood with a beautiful, green environment, a vantage view over Central and high-efficiency homes. The area also boasts a highly developed transport system, an abundance of dining and retail options and is home to a number of prestigious schools. In addition, its proximity to Central attracts many white-collar corporate workers to live here, giving the local luxury homes solid appreciation potential and resistance to depreciation.

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Grace Oh, deputy director of Engel & Völkers, tells us that the Mid-Levels area has always experienced a robust property market, and is expected to be the same in 2018. The annual appreciation rate of these homes is up to 10%, while units over 2,000 square feet are the most desirable amongst buyers. Oh lists Grenville House, Garden Terrace and Kennedy Heights as some of the most popular estates, adding that Mid-Levels’ home prices are likely to set new records this year but available units are rare.


Central

As the market is warming up, the luxury home sector, which usually enjoys a higher stability rate, will likely see more record-breaking deals this year. Oh mentions that back in 2014, she closed a HK$110-million, record-breaking deal for a unit in Estoril Court, and she predicts that the next new record in the same estate could reach HK$140 million.

Selected Properties:

Hillsborough Court


Hillsborough Court

Developed by Sun Hung Kai Properties in 1993, Hillsborough Court is located on 18 Old Peak Road and comprises of four blocks, offering 528 units with saleable areas measuring from 625 to 1,083 square feet. Most of these units are over 1,000 square feet with a high efficiency rate of at least 80%. Oh reveals that unit 17A in Block 4, with a saleable area of 1,083 square feet, was sold last December at HK$33.8 million or HK$31,209 per square foot.

Tregunter Towers

Built in 1981, Tregunter Towers is located on 14 Tregunter Path and has three blocks with a total of 317 units. Regular flats range from 1,547 to 3,014 square feet, while the estate also has a few penthouse units. According to Oh, Engel & Vökers assisted the sale of Unit 24A in Block 1 last December. The said unit has a saleable area of 2,559 square feet and was sold at HK$63 million or HK$24,618 per square foot.

Regent on the Park

Located on 9A Kennedy Road, the estate was completed in 1985 and consists of two towers, offering 131 units of two saleable area sizes - 1,094 or 2,072 square feet. The clubhouse features an indoor pool, gym, squash court, tennis court and a table tennis room. Oh says that Unit 9B in Tower 1, with a saleable area of 1,094 square feet, was sold last December for HK$32 million, which is equivalent to HK$29,250 per square foot.

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