Luxury market perks up with $870m Shouson Hill sale

A luxury residential project at Shouson Hill Road co-developed by Emperor International (0163) recorded its first sale with a six-bedroom mansion going for a whopping HK$870 million

The price per square foot worked out to HK$108,347, making it the highest price in new flat sales so far this year.

The project is jointly developed by Emperor International, C C Land (1224), Mingfa Group (International) (0846) and CSI Properties (0497).

The sale comes as a boost to the super-luxury property market amid the Covid pandemic, said Alex Yeung Ching-loong, the vice chairperson of the Emperor Group.

House No. 7 in the development has an area of 8,032 sq ft and comes with six bedrooms. It also has a large indoor area and an exclusive outdoor space, including a 3,427-sq-ft private garden and a 2,091-sq-ft rooftop.

It also comes with its own private swimming pool, he said.

15 Shouson Hill provides a total of 15 low-density luxury detached houses, each with areas of 3,727 to 12,073 sq ft, in configurations ranging from four to six bedrooms.

Meanwhile, Villa Garda I, phase 11B of Lohas Park in Tseung Kwan O, has received over 2,200 checks on Saturday and will shortly unveil the second price list which offers 80 flats.

Also in the primary market, Sun Hung Kai Properties (0016) said it has sold 560 flats at phase 1 of Silicon Hill in Tai Po after four rounds of sales, raking in HK$4.5 billion.

A flat with an area of 848 sq ft and a 624-sq-ft rooftop and platform sold for HK$18.8 million, making it the highest deal at the project.

And at Grand Jete, 91 of 138 flats on offer were sold over the weekend. The project by CK Asset (1113) and Sun Hung Kai Properties offers 400 flats with areas of 263 to 722 sq ft, at an average price at HK$15,418 per sq ft.

In the secondary market, a total of six transactions at 10 blue-chip housing estates were recorded over the weekend, which was the same as last weekend, according to Hong Kong Property.

Jason Man, the district sales director of Hong Kong Property, said Hong Kong still has a low interest rate environment.

He believes that the number of second-hand transactions may increase by 25 percent in July compared with this month, and property prices will remain buoyant.