hotlistings december 2009

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The Emergence of WoHo

HotListings - Your Source for Quality Properties

All the classics come back into vogue and Sai Ying Pun is no exception.The once poor cousin of SoHo is back in the thick of it with long planned infrastructure projects given the green light and under construction. If you don’t know where Sai Ying Pun is now, Fiona Murphy has details.

There are two theories as to how Sai Ying Pun came to be named. We at HotListings prefer the version

whereby notorious pirate, Chang Po Tsai, built his fortified headquarters in the area and Sai Ying Pun was labelled after this lawless encampment.

West of Sheung Wan, Sai Ying Pun (SYP) is a living testament to “old Hong Kong” with still many laneways and terraces for the most part, only accessible to pedestrians. Prior to the British setting up their own barracks there in 1841, granite was quarried from the area by the Hakka people while fishermen and farmers went about their respective businesses.

The first European to settle in SYP was a Mr Robert Webster a former trader out of Canton who, in 1842 was granted inland lot 5. We wonder what Mr Webster would make of SYP today as, according to local blog, www.saiyingpun.hk, SYP is “The fastest developing community on Hong Kong Island”.

With plans approved for the extension of the MTR’s Island Line through to Kennedy Town and a pedestrian escalator to run up Centre Street from

Third Street to Bonham Road, SYP is certainly drawing attention to itself.

The MTR West Island Line will extend from Sheung Wan, with new underground stations to be built in SYP, the University of Hong Kong and Kennedy Town. According to the Transport & Housing Bureau, the 3km trip from Kennedy Town to Sheung Wan will be cut by half to approximately 8 minutes.

The construction stage of the project will create approximately 2,500 jobs up to 2014, with a further 2,500 once the line is operational. The carry-over economic benefits for the existing local populace of such a large influx of workers, will no doubt be positive for many small businesses. This is already beginning to result in better quality services and a rejuvenation and gentrification of the area whilst it retains it’s old world charm.

It really does feel like a Sunday every day in SYP, with the community making their way to and from the markets, buying fresh produce and stopping along Centre Street to greet neighbours. A smattering of new up market restaurants and shops are making their presence felt. Familiar names like Wildfire, Café O and Il

The Emergence of WoHoBel Paese are amongst the earlybirds to establish outlets in the area.

Local resident and master of The Pun, Sai Ying Pun blog at www.saiyingpun.hk, Tony Reno moved to the area over 2 years ago. Looking for “an affordable alternative to Central”, SYP ticked all the boxes and provided a quiet locale away from the late night shenanigans of Drop, a club he was living above at the time.

Back then, Tony recalls “the neighbourhood was almost entirely Chinese”. More recently though, he has noticed “the changing face of SYP with more international faces amongst the crowd” making their way up and down the many stairs along Centre Street and jostling for seats on mini-buses.The blog began as a result of Tony’s perceived lack of coverage in the English press about the area. “I don’t update it as much as I’d like to but when things are relative to me or something happens in the neighbourhood that I find interesting, I blog it”. The site covers an array of topics of interest to locals, from tips on dining at local dim sum restaurant Lin Heung, to the annual Blessing of the Corners and the forced closure earlier this year of Blue Goose Bar


“...the changing face of SYP with moreinternational faces amongst the crowd.”

5

on Bonham Road.

Tony agrees that some retailers grasp the potential of the area and notes Pacific Coffee has recently opened on Bonham Road. He also believes “the new MTR line will be great for the neighbourhood” and will use it to commute between SYP and his office in Central.

Tony also has concerns regarding over-crowding of the area. He sites traffic congestion, which is bound to be exacerbated by the development on First Street and the seeming lack of expansion plans by supermarkets, to accommodate the increasing number of citizens as areas which demand consideration from urban planners. “The streets are too narrow to accommodate the influx of cars which will no doubt come into the area. In a couple of years it could be like Causeway Bay here”.

To your correspondent, SYP draws similarities to Chelsea of Manhattan in the 90’s. As any fashionista worth their salt will tell you, Chelsea is one of New York’s most fabulous up and coming neighbourhoods! While other hotspots around the city that never sleeps were hogging the limelight, Chelsea was left to grow at it’s residents pace with intimate bistros and boutique stores finding the space needed away from the big chains to establish a loyal following from their local clientelle.

Many changes have been made to the original scope of works to improve community facilities in the Western district. Kennedy Town swimming pool will be relocated to Shing Sai Road and redesigned to the latest standards, with

plans already afoot to provide more public space along the waterfront from the Sun Yat Sen Memorial Park to the Western Wholesale Food Market.

This is more than your average infrastructure project. Thanks to exhaustive consultation efforts between the many parties involved, the completed works will result in a reinvention of the Western District.

The Centre Street escalator will provide a covered link between Third Street and Bonham Road, on the eastern side of Centre Street, breaking only to allow access to Ying Wa Terrace. The 85 metre link is expected to be completed in two years time.

At a cost of approximately $60 million, the three sections of escalator between Third Street and Ying Wa Terrace will

be one-way only. The steep gradient between Ying Wa Terrace and Bonham Road will give rise to a 25 metre, two-way escalator. Footpaths along Centre Street will be widened and improved and it is proposed to plant 330 shrubs as part of the project. It seems the green initiative is actually having an impact!

The two projects combine to allow much easier access to the hive of activity that is Sai Ying Pun. The fast and high capacity lifts which are being built to service the underground MTR stations will be linked to pedestrian walkways leading on to the various escalator sections. Already activity is abuzz, as those in the know are snapping up properties which present great value when compared with other pedestrian friendly neighbourhoods. Transactions in June for Centre, First, Second, Third and High Streets were up 49% month on month at 98, with average property values up 4% month on month at $2.18M. So whilst prices are on the move higher, they are still within the reach of many.

The big developers are already entrenched in the area, with Kerry Properties (HKEx: 683), Island Crest development on First Street nearing completion. The two towers will total 488 residential units, ranging in size between 500 and 1,200 square feet with an estimated price per square foot of approximately $12,000, making it by far the most expensive residential real estate in the area.

Amongst the one, two and three bedroom units on offer will be 20 special units and 6 sky-duplex apartments over

HotListings - Your Source for Quality Listings

Brand new development Island Crest by Kerry Properties.

Recent Transaction in Sai Ying Pun

Registration date

28 Sep

11 Aug

17 Jul

7 Jul

19 Jun

327

489

418

442

462

1.49

2.4

1.68

2.41

2.08

1.78

2.7

1.9

2.70

2.48

130

105

74

64

58

19%

13%

13%

12%

19%

Cheong King Court, High Street

Ko Nga Court, High Street

Yee Shun Building. Second Street

Block 3, Connaught Garden

Evergreen Tower, Western Garden

Building Area Sq Ft Purchase Price Selling Price Hold day Gain / Loss

All prices are in millions. Source: The Land Registry

6

Q. Which street do you live in?A. First Street.

Q. How long have you lived here?A. One year.

Q. What’s your favourite thing about this neighbourhood?A. The local markets and that you can easily get cabs. Oh yes and it’s quiet!!

Q. What’s your least favourite thing about this neighbourhood?A. I can’t get a decent coffee for love nor money…

Q. What’s transport like here?A. Good – taxis, buses, minibuses and trams are all really convenient with the MTR coming soon!

Q. Are you planning to move?A. I may rent my flate out but will definitely continue to invest in SYP.

Q. Where’s your corner shop?A. Park n Shop. It’s directly opposite my flat.

Q. Where’s your favourite neighbourhood bar/restaurant?A. Yakatori on High Street. The staff are really friendl,y the food is great and it’s superb value.

Q. Which local services do you use?A. The wet market, the hairdresser’s downstairs on First Street and the dry cleaner on my doorstep.

Q. Tell us a neighbourhood secret?A. The bbq and yakatori restaurants on Third and High Streets are fantastic! The escalator may not be here yet but the restaurants are already making an impact!


Neighbourhood Watch with Claire Garner

three special floors. These will range in size from 1,500 – 3,000 square feet and some will include private plunge pools. All the units have balconies and floor to ceiling windows allowing maximum natural light. Some even have 180 degree harbour views.

Facilities in the clubhouse includes an outdoor swimming pool, jacuzzi, sauna and steam bath, banquet room, bbq area, landscaped podium garden etc.

According to Kerry Properties Executive Director, Mr I P Chu, only 1,200 residential flats are anticipated to be completed in 2009 with similar supply levels through to 2011. This makes Island Crest a rare offering indeed.

Other developments in the area include Magnificent Estate Limited’s (HKEx: 201) site at 338 – 346 Queen’s Road West, where a 230 room serviced apartment

hotel is currently under construction. The site was purchased in 2008 at a cost of $198,000,000. Magnificent Estate’s management report of 17 September 2009, states that “the recent commencement of the Western MTR Line will improve future value of this property significantly”.

Small, family run businesses and low rise buildings will no doubt become casualties of Sai Ying Pun’s popularity once these major infrastructure projects are completed but in a city where money is everyone’s religion, these victims may find themselves sitting on a small (or large) fortune as the price of property no doubt follows the direction of the new escalator - up!

We at HotListings dub the new pedestrian and commuter friendly area WoHo and anticipate a bright future for this little gem!

DES VOEUX ROAD WEST 德輔道西

第一街

西邊街

正街

東邊街

第二街

港鐵站出口

第三街

高街

般咸道

皇后大道西QUEEN’S ROAD WEST

FIRST STREET

MTR Exits

單程扶手電梯Escalator system (One-way)

雙程扶手電梯Escalator system (Two-way)

SECOND STREET

THIRD STREET

HIGH STREET

WES

TER

N S

TREE

T

CEN

TRE

S

TREE

T

EAST

ERN

STR

EET

BONHAM ROAD

ISLAND CREST 縉城峰

KING GEORGE V MEMORIAL PARK佐治五世紀念公園

Infrastructure Plan in Sai Ying Pun

西營盤區大型建設

現有室內扶手電梯

計劃中重建項目

Current indoor escalator system

Proposed redevelopment project

HL

7

MetroCity 首

都

professionalpropertyservices

Metro City Property Agency首都置業代理

Mid-LevelsG/F, 31-37 Mosque Street,Hong Kong

Sai Ying PunG/F, 52-54 Third Street,Hong Kong

[email protected]

Hong Kong 香港 Shenzhen 深圳Chongqing 重慶 Shanghai 上海Beijing 北京

Pearl Garden, Conduit Road 干德道明珠台2,200 sf | $27M

Designer’s Decor, 3 Beddooms, Balcony 三房、露台、車位

Patrick Leung 6626 7087

2869 63212857 7321

Albron Court, Caine Road 堅道豐樂閣1,575 sf | $11.8M

4 Bedrooms, Sea Views, Adjacent to SOHO 四房、海景

Mr Wong 9318 6116

SOLEAGENT

Whole Building, Hollywood Road 荷李活道全幢2,954 sf | $28M

Shops and Office, Lively Location 時尚生活區，具投資潛力

Nelson Wong 9495 8113

EENEBLOC

Po Yu Yuk Building, Robinson Road羅便臣道寶如玉大廈

1,463 sf | $16MHigh Floor, Stunning Sea Views 高層、海景


Woodlands Court, Woodlands Terrace活倫臺活倫閣

550 sf | $13.5K1 Bedroom, Newly Renovated 一房、簇新裝修

Tommy Wong 9271 9709

Apartment at Caine Road堅道附天台住宅

620 sf | $4.7M $18KRooftop, Open Views 開揚、附設天台

Mr Wong 9318 6116

Whole Building, First Street第一街全幢

2,550 sf | $18MFuture Escalator and MTR Area 未來地鐵地段

Perry Fong 6181 7242

Whole Building, Hollywood Road荷李活道全幢

2,100 sf | $18MLively Hollywood Road Area 獨立樓梯


EENEBLOC

Ryan Mansion, Mosque Street摩羅廟街樂欣大廈

359 sf | $2.6MNext to Mid-Levels Escalator 半山電梯旁


EENEBLOC

Nikken Height, Prince’s Terrace太子臺日景閣

998 sf | $8.6MBalcony, 2 Bedrooms 露台、環境清靜


Shop in Aberdeen Street鴨巴甸街地舖

600 sf | $9.7MRarely Available in Market 門面闊12呎

Nelson Wong 9495 8113

Maxluck Court, Mosque Street摩羅廟街美樂閣

711 sf | $14KQuiet Location, Steps to SOHO 環境清靜

Mr Wong 9318 6116

Tsui Wah Building, High Street高街翠樺樓

570 sf | $3.5M1 Bedroom with Rooftop 一房、天台


Connaught Garden, Connaught Road West干諾道西高樂花園

442 sf | $2.48MStunning Sea Views 開揚海景


Ying Fai Court, Ying Fai Terrace英輝臺英輝閣

602 sf | $18KAiry, Convenience Location 兩房、精緻裝修

Mr Wong 9318 6116

The MTR West Island line gets the go-ahead, pushing up

property prices throughout Sai Ying Pun, Shek Tong Tsui and Kennedy Town. Some investors are hunting for old Chinese walk-up buildings in the district, expecting them to be acquired by Urban Renewal Authority or developers. However, they should take great care of the underground strata issue.

From an investment perspective, the areas to be serviced by the new MTR line will become more convenient to the business districts and therefore more valuable. However, the Government Gazette announced that the underground strata of over 200 buildings along the Western Island line (see the table on the next page) will be occupied by the MTR, for the construction of stations, tunnels and related facilities.

In other words, if you’re looking for an old building with a view to redeveloping, be sure to check the strata details against MTR plans. New buildings will be restricted in height because the foundations cannot be too deeply embedded into the ground. This then decreases the saleable floor area and of course land value.

The Land Department has stressed that this will be a temporary arrangement only, that the strata occupation will end when

the MTR works are completed in 2014. Some surveyors though estimate the strata of a handful of the 200 buildings listed will need to be permanently occupied.

Recently the District Council members had raised their concern to the issue. According to Railway Ordinance Chapter 519, any person having a compensatable interest in a listed building may serve a written claim upon the Secretary for Transport & Housing before September 28, 2010. The construction of South Island line will follow after the West Island line. Investors should take note of any future announcements regarding strata conditions by the government.

Buyers Alert

港鐵西港島線正式動工，除了推高沿線物

業價格，亦吸引了一批投資者在區內物色舊樓，不過投資者宜留意，若購入物業被政府永久徵用地層，有可能喪失重建價值。

低價購入舊樓翻新，成本低，租金回報高，加上西港島線沿線鄰近中區，深受上班族歡迎，形成活躍租務市場。但地政總署經已刊憲，宣布根據《鐵路條例》，回收中西區二百多幢樓宇地層，用作興建地鐵管道、車站及相關地下設施。

被徵用的地層達主水平基準下十五米，換句話說，假如投資者購入地層被徵用的樓宇，打算作重建用途，或期望未來被發展商或市建局以高價收購，但由於地層被徵用，新建樓宇的樁柱深度受到限制，影響重建樓宇的高度，可發售樓面面積大大減少，降低重建價值，因此高價購入舊樓，隨時得不償

失。

不過地政總署亦表示，地層徵用屬暫時性安排，待地鐵工程在2014年竣工後，便會停止徵用。但有測量師估計，有極少部分鐵路設施，可能需要永久徵用樓宇地層，不過涉及樓宇數目不多，估計僅為幾幢。

目前有中西區區議員正跟進當局回收地層安排，並進行集體索償，保障現有業主權益；而根據《鐵路條例》第519章所述，受影響的業主可以在2010年9月28日前，向運輸及房屋局局長書面申索。港鐵南港島線將會緊隨西港島線動工，打算在南區投資舊樓的人士，宜留意當局未來的詳細公布。


Railway Extension Caps Redevelopment Value

HL

Acquisition and redevelopment projects by Urban Renewal Authority attract property hunter invest in old buildings with redevelopment potential. 市建局物色舊樓重建，為投資者帶來收購「搏升值」的誘因。

投資舊樓搏收購　留意地層問題

10


Street

Temporary Occupation of Underground Strata by Director of Land Number

Babington Path巴丙頓道

6A-6E

Belcher’s Street卑路乍街

8

Cadogan Street加多近街

52-60

Ching Lin Terrace青蓮臺

1-11, 15-18

Connaught Road West干諾道西

38, 42-44

Des Voeux Road West 德輔道西

9, 25-29, 8, 18-20, 76-78, 88, 94-108, 114-130

First Street 第一街

83, 97-103

Hill Road山道

54-66, 88-106

Leung I Fong 兩儀坊

1-9, 4-10

Li Sing Street李陞街

10-12

On Tai Street安泰街

7

Pok�eld Road蒲飛路

15-23

Prospect Place光景臺

3-6

Sands Street山市街

29-43

Second Street第二街

1, 2-10, 14-18, 28, 54-66, 80, 83

Tak Sing Lane德星里

1

Tsz Mi Alley紫薇街

1A-1D

Wilmer Street威利麻街

2, 6-12, 1-5A

Ying Wah Terrace英華臺

1-6, 7-9, 12

Bonham Road般咸道

11-31B, 33-47, 78-86A, 90

Street NumberBonham Strand West文咸西街

77-79, 81-85

Centre Street正街

51-53, 52-56, 62-64

Clarence Terrace加倫臺

2-6, 8-16, 20, 28, 36

David Lane爹核里

1-4

Eastern Street東邊街

25-37

High Street高街

2B-2C, 4, 8, 16-38, 19-25, 25A Rear, 27-33, 37-49, 53-65

Ko Sing Street高陞街

88-90

Lung Wah Street龍華街

20

New Market Street新街市街

8, 30-34, 46, 48, 54-58, 64

Po Tuck Street保德街

2-32, 1-31, 13-, 27

Pokfulam Road薄扶林道

69AB, 70-74, 71. 89, 91, 95-97, 101, 109-113

Queen’s Road West皇后大道西

168-190, 196-202, 206-220, 224, 189A, 191-196, 199, 203-209, 213, 219, 221-223, 227-233, 327-339, 320-336, 450-456

St. Stephen’s Lane聖士提反里

1-2, 3-7, 10-12

Sutherland Street修打蘭街

20

To Li Terrace桃李臺Third Street第三街

15

Wong Lok Street永樂街

5-11, 15-39, 29-33, 43-47, 63-67, 69-73, 12-48, 56-72, 83, 179

Yu Lok Lane餘樂里

148, 160-162, 166-176, 180-190, 188-190, 198-202, 227-245, 243-2451-4

被暫時回收地層樓宇

11

Designer Renovated Apartment with Balcony120K excl 2400’

Katherine Tan 9632 9495

♦ Overlooking Deep Water Bay♦ Excellent fitted kitchen & bathrooms♦ Attractive rental, must view

Apartment above Lan Kwai Fong5M / 18K incl 450’

Katherine Tan 9632 9495

♦ 1 bedroom, fully furnished, high efficiency♦ Spacious balcony, open kitchen♦ City view, 5 mins walk to Lan Kwai Fong

Duplex + Simplex with 2 Roofs over 2000’85M 5419’ + 2000’ Roof

William Miu 9188 5511

♦ 5 bedrooms with 2 en suites♦ Deluxe decor♦ Full sea view, 2 car parks

Lovely Apartment with Full Sea View26M 2100’

Chris Chan 9358 4254

♦ Beautiful view and balcony♦ Excellent kitchen and bathrooms♦ Nicely decoration, 15mins to Central

Goldson Place at Shouson Hill20M 1650’

Frederick Ho 6018 4630

♦ 3 bedrooms with helper’s room♦ 1000’ roof top & nice mountain view♦ Internal staircase

Mid-Levels East Apartment14M / 38K incl 1344’

William Miu 9188 5511

♦ 3 bedrooms with 1 en suite♦ Balcony, helper’s room♦ Greenery & mountain view

Strawberry Hill at The Peak160K excl 3000’


♦ 4 bedrooms with 2 en suites♦ Big back yard, helper’s room♦ Nice clubhouse

Upper Mid-Levels Colonial Apt.80K 2565’

Kenneth Wong 9836 5323

♦ 3 bedrooms with 2 bathroom♦ Huge balcony, pool♦ Close to Central, shuttle bus

Apartment in Repulse Bay90K incl 2288’

Ben Pun 6672 6665

♦ 3 bedrooms, big balcony♦ 2000’ private roof top♦ Full sea view, deluxe decoration

South Bay Apartmentsubject to offer / 90K incl 2738’


♦ 4 bedrooms with 1 en suite♦ Full sea view & mountain view♦ Car park, helper’s room, facilities

Fortuna Court7.2M / 25K 705’

Michelle Chung 9085 0906

♦ Located right on the racecourse with full view♦ Unique design, beautiful & new renovation♦ Designed for extra storage space

Tim Po Court20K incl 803’

Michelle Chung 9085 0906

♦ 1 bedroom, 1 study room ♦ City view, designer’s design♦ Next to escalator

Sole Age

nt

Sole Age

nt

Tregunter Tower Mid-Levels 3052’ 4 bedrooms, balcony, newly renovated 90K incl

May Tower Mid-Levels 2850’ 3 bedrooms, duplex, clubhouse, shuttle bus 82K incl

Century Tower Mid-Levels 2565’ 3 bedrooms, colonial apartment, city view 80K incl

Kam Fai Mansion Mid-Levels 1400’ 2 bedrooms, private roof, new renovated, 1 study 68K incl

Hong Villa Mid-Levels 1916’ 3 bedrooms, balcony, harbour view, 2cps 65K incl

Seymour Place Mid-Levels 1375’ 3 bedrooms, full sea view, close to escalator 35K incl

Bisney Road Pokfulam 2500’ 4 bedrooms, private roof, sea view 92K incl

Pokfulam Height Pokfulam 1750’ 3 bedrooms, Low-rise 40K incl

Somerset Repulse Bay 3099’ 4 bedrooms, duplex, sea view 120K incl

Repulse Bay Garden Repulse Bay 2810’ 4 bedrooms, spacious layout, big balcony 100K incl

Monte Verde Repulse Bay 2400’ 4 bedrooms, balcony, full sea view 90K incl

Brentwood Repulse Bay 1556’ 3 bedrooms, balcony, Deep Water Bay 55K incl

Belgravia South Bay 2700’ 4 bedrooms, full sea view, brand new 150K incl

Carmel Hill Stanley 2434’ 3 en suites, townhouse, private garden 90K incl

Ho’s Villa Stanley 1902’ 3 bedrooms, private roof, pool 85K incl

The Zenith Wanchai 651’ 2 bedrooms, balcony 19K incl

3571 9122 2506 1008 www.landmarkasia.com.hkSuite 1410-11, Tower 1, Times Square, 1 Matheson Street, Causeway Bay C-005826

SOLE A

GENT

Close proximity to SOHO and Lan Kwai Fong

Professional management with 24hrs security

Adjacent to the Central-Mid-Levels escalator

Close proximity to SOHO and Lan Kwai Fong

Professional management with 24hrs security

Adjacent to the Central-Mid-Levels escalator

Robust Performance


HotListings sits down with Michael Cassidy, a Director with MacauLand to discuss the property market and their new project located in Pokfulam.

HotListings : Michael, for the past several months the Hong Kong property market has been one

of the top performers globally. As a developer, what’s your perspective on why the market has been so strong, and what’s your view looking ahead to 2010?

Michael Cassidy: I think it’s safe to say that during the financial crisis last year, nobody expected such robust performance from the Hong Kong property market. Every investment bank, property agency, and market pundit predicted a miserable 2009.

But as it turns out, the Hong Kong and mainland China economies have stayed healthy, especially relative to the rest of the world. Buyers who had sat on the sidelines because of the financial

uncertainty have come back into the market, and this pent-up demand has helped price levels recover to near pre-crisis levels. It’s also helped that the supply of new housing is very low compared to historical norms. Coupled with low interest rates, this shortage has really fueled the recovery of housing prices after the depressed levels of late 2008 and the first quarter of this year.

Going forward, we’re confident that the Hong Kong market will remain strong. The rapid price increases seen this year will slow down as the market returns to equilibrium, but given the low supply and low interest rates, the fundamentals are excellent and will support steady growth in capital values through 2010.

HotListings: How have sales at Aqua 33

Robust Performancebeen?

Michael Cassidy: We realize that we may have under-priced Aqua 33 based on how quick sales have been! We’re pleased at how strong the buyer response has been and I think that’s a testament to the unique design and high quality of the development.

We’ve recently released our last batch of apartments into the market, and have less than 6 units remaining. We’ve reserved some of our best units for last, with a penthouse featuring an internal staircase to a private roof as well as two fully furnished show flats. These show flats showcase fantastic contemporary interiors created by the internationally renowned architecture and design firm Philip Liao & Partners, and are designed


“...the low supply and low interest rates, the fundamentals are excellent and will support steady

growth in capital values through 2010.”

15

to not only be visually stunning but also very practical and livable.

HotListings: Have you raised prices because of the strong demand and the upswing in the market?

Michael Cassidy: As stated previously, we initially underpriced the flats, so yes we have increased prices and will likely do so again as we get closer to completion of the show flats in a few weeks. With that being said, we are by far, the best deal in town. Where else can you find a luxury low rise development with unique and modern styling, complementary valet car parking, complimentary health club membership, a communal SkyLounge with roof top sea views, Jacuzzi and gourmet BBQ station for HK$ 9,150 psf? We think this project offers excellent value.

HotListings: Who are your typical buyers and why do you think they’ve purchased at Aqua 33 versus some of the other developments on the market?

Michael Cassidy: Our buyers have been a mix of expatriates and Hong Kongers. They’re young couples and young families, very well-traveled and international in perspective, often with several investment properties around

the world. Interestingly, for many of these experienced property buyers, Aqua 33 is the first Hong Kong home they’ve purchased to live in themselves. I think what we’re trying to create at Aqua 33 really resonates with people looking for a healthy and eco-friendly lifestyle.

Interestingly, even though all our flats are for sale only, we receive calls daily from prospective tenants. This really demonstrates the strong rental dynamics in Pokfulam, and particularly for the product on offer at Aqua 33.

HotListings: One of the unique elements of Aqua 33 that you noted in our last interview is the use of environmentally sustainable construction methodology and materials. One of the challenges facing developers in introducing eco-friendly aspects to their developments is the concern that buyers are not willing to pay extra to save the environment. Have you found this to be true at Aqua 33?

Michael Cassidy: We haven’t priced our project at a premium to other “non-eco friendly” developments, so it’s hard to say whether our buyers would have opted for another project if we had raised our prices to reflect the higher costs of our eco-friendly design. That being said, many of our buyers have

specifically cited our choice of materials and attention to reducing energy consumption as significant reasons they chose Aqua 33.

A good example of this is the reverse-cycle, heat-pump air conditioning systems we’re installing at Aqua 33. Not only are these systems among the most efficient available for cooling, but they are also much more efficient than space heaters during winter months. All of our Siemens appliances are rated Class A for efficiency, and we’ve installed top-of-the-line water filtration systems to eliminate the carbon footprint and waste of bottled water. All of these – and more – are good for the environment but also good for our buyers’ wallets after they move in.

HotListings - Your Source for Quality Listings

HL

www.aqua-33.com

Aqua 33 Fact SheetLocation 33 Consort Rise, Pokfulam

Number of units 42 residential units

Apartment sizes • Two- and• three-bedroom flats• From 1,434 to 2,002 sq.ft.• 12 Penthouse residences• with internal stairs to • private rooftops• 2 communal roof gardens

Developer MacauLand

Website

16

If you are interested in any of the above please contact Derek Hinden (owner) at [email protected] or 9776 2555. Agents welcome – full commission paid.

TURN-KEY Property Investment

FOR SALE: 14C, Gar�eld Mansion, 23 Seymour Rd.•

• • • • •

1,100 sf; 2 bedroom, 2 bathroom; large living/dining area; open kitchen; balcony, covered C/P 10 mins. walk to escalatorBright; designer decorated; completely renovated last yearLeased for $30k/ mo. incl. until 31/3/11 with mutual break-clause 31/3/10Viewings available by appointmentAsking $9.7M

FOR SALE: 5B, Golden Valley Mansion, 135 Caine Rd.• • • •

• •

750 sf; 1 bedroom, 1 bathroom, large living & dining area, study/ storage room; open kitchen 10 mins. walk from escalator Bright; designer decorated; completely renovated last yearLeased for $22k/ mo. incl. until 14/11/10 with mutual break-clause commencing 14/11/09Viewings available by appointmentAsking $5.3M

FOR LEASE: 10B, Cameo Court, 63-39 Caine Rd.• • • • •

750 sf; 2 bedroom, 1 bathroom; separate living/dining areas; open kitchen Next to escalatorBright with great city view; designer decorated; completely renovated last yearAvailable Immediately. Flexible viewing schedule.Asking $30k/mo. inclusive

Center Point Realty Limited www.centerpointhk.comG/F., No.34D Staunton Street, Central, Hong Kong

Ryan Mansion359'

SOHO

EAA License: C-031309 Sam 9627 7825William 6024 3828

Tel: 2581 4325 2581 4326

[email protected]

2.6M

Kingearn Building680'

With private flat roof

3.3M

Hung Tsui House900' + 400' Terraces

2 terraces

7.6M

Des Voeux Road West350'

High floor

1.56M

Best View Court1700'

2 bedrooms,suite, balcony

18M

Heart of SoHo1150'

Staunton Street, rare

7.5M

Cheung Fai Building427'

Near Escalator

2.88M

Silver Jubilee Mansion387'

Open views

2.48M

Shop at SOHO680'

Staunton Street

16.8M

Shelley Court472'

Open green view

3.48M

中寶物業專營中環 SOHO

Residential 住宅租售

20


21

2264 0664w w w . p r o p e r t y f i n d e r . c o m . h kC-032063

Brand-new Twin House 2100’ Contemporary design, private gate, ready to move in

16M / 65K

Private Garden Ho use 2100’ Private gate, brand new, open green view

13M / 45K

Sai Kung Villa 1334’ Spanish-style complex, communal pool

12.8M

Waterfront House 2100’ Quality fittings, Western neighbourhood, rare waterfront

80K

New Development 2100’ Upgraded kitchen fittings, sea view, individual environment

21M / 58K

Sea View Villa 1883’ Upgraded kitchen, 3 bedrooms, high ceilings

68K

Habitat 1800’ Management complex, pool, western family

18M / 55K

Thai Private Pool 2200’ Management, cliff-front sea view, 4 brs

75K

Private Pool 2100’ Detached house, open greenery, large garden

18M / 60K

Sai Kung Mid Level 2100’ 5% return, communal pool, low density

15.8M

Floral Villa 2507’ Detached house, Full seaview, gdn, 4 bdrms

80K

Waterfront House 1800’ Vacation house, lawn garden, one of a kind

18M


22


23

“We’re gonna need a bigger

home!”

Find your dream home.

HOTLISTINGS


24

HOTLISTINGS置業指南

FIND YOUR DREAM HOME

ANYTIME, ANYWHERE

Read our e-magazine online:

www.hotlistings.com.hk


25

Children Education學童教育

別開生面的理財教室「財富輪」

讓你的孩子從這套紙板遊戲中，學習如何為自己的成長、教育、事

業、退休等人生目標作全面安排。

www.fq.hk

香港財商教育培訓中心

3106-2836

Domestic Helpers家務助理

東誠僱傭服務公司

專業印尼女傭服務

Oriental Employment Services Co. LtdProvide a convenient way of hiring quality, well-trained, and experienced foreign domestic helpers.Enquiries堅道 Caine Road 2523-9911第三街 Third Street 2419-6488

Financial Services金融服務

Interior Design室內設計

Business Services商業服務

力東行

Power East Company各類信封　香港製造

Envelope Printing ServicesTel: 2896-3449Fax: 2897-2409

Email: [email protected]: www.28print.com

UBC 商務中心 UBC Business Centre位於觀塘中心地帶，鄰近港鐵站，交通便捷；本中心提供一站式商務服務，包括：服務式辦公室、虛擬辦公室、公司註冊及會計服務等，是你經商創業不二之選。

Serviced Offices, Virtual Office, Company Registration, Accounting ServicesTel: 3641-1201Email: [email protected]

Accounting會計及稅務

榮悅會計師事務所

Honour Joy CPA Limited九龍油麻地碧街42號東南商業中心18樓

18/F, Tung Nam Comm Center,42 Pitt Street, Yaumatei, KowloonTel: 2332-8166Fax: 2332-8086Email: [email protected]

聯智專業印刷有限公司

United Concept Printing Specialist LtdProduct range:• Printing design• Booklets / leaflets• Business forms / package printing• Computer forms and labels• Gift boxes, Price tags and paper bagsTel: 2753-8166Email: [email protected]

Contractors and Handyman裝修及家居工程

承接大小裝修工程

手工專業

取價公道

電話：9559-1189

王師傅洽

永恆水晶地板

專營銷售及鋪設各類水晶地板

陳先生

電話：2669-2520

Show your product or service here!Advertise here from only $240. Please

contact our advertising team at 2537-7585 or [email protected]. You may also download our classified

order form atwww.hotlistings.com.hk/ad

明記 Ming Kee開鎖配匙 Locksmith and Locks水喉冷氣 Pipe and Washroom Facilities修理鋁窗 Window Repairing新裝門鎖 Utensils and Plumber電器維修 Air-conditioning Engeering電話：2548-2337 9174-8883

般咸道33號正街側 33 Bonham Road

財務策劃

投資市場瞬息萬變，你需要可靠忠誠的財務策劃顧問，助你運用手上資金，實現人生目標，請聯絡甄小

姐安排免費諮詢服務

電話：6403-6969

天地帳篷專營商鋪、村屋及戶外展銷帳篷

SkyLand Awning

免費度尺　即時報價歡迎致電查詢：2650 4433

鋁合金摺臂式帳篷闊12呎，伸出2米 $2,830

www.skylandawning.com.hkFlat A16, 7/F, No.41 Wing Hong St., Lai Chi Kok, Kln

天地帳篷專營商鋪、村屋及戶外展銷帳篷

SkyLand Awning

免費度尺　即時報價歡迎致電查詢：2650 4433

鋁合金摺臂式帳篷闊10呎，伸出2呎 $2,700

www.skylandawning.com.hkFlat A16, 7/F, No.41 Wing Hong St., Lai Chi Kok, Kln

Furnishings家具

Classifieds 分類廣告

Children Education學童教育

小鐵人教育研究中心

LEGO創意坊，適合3至15歲學童

啟發創意思維、增強溝通能力、提升專注力、立體視覺訓練、訓練小肌肉

上課地點：尖沙咀、油麻地、中環

報名熱線：2425-6910

網址：www.roboedu.hk

Dancing舞蹈

Dance Concept StudiosBe healthy. Be happy! Come learn• Ballroom• Latin• Tango• Salsa• Ceroc• JazzLearn it from the best teachers in town. We have group, private, semi private lessons. Studios at Central and Wanchai.Tel: 2573-1918Web: www.danceconcept.com.hk

Contractors and Handyman裝修及家居工程

Fitness and Health健體

StretchStretch is the only stretching studio in Hong Kong that specializes in flexibility and postural re-alignment, using the revolutionary technique Active Isolated Stretching®, developed by Aaron Mattes, in the USA, over the passed 35 years.4/F Winsome House, 73 Wyndham Street,Central, Hong KongTel: [email protected]

Ultimate Handyman ServicesHouse painting,moving,Demolition

Masonry,Drywall,Tiles,Floors,ElectricalAluminium,Hanging pictures

For All Your HandyworkSam 6054-5377 6169-6874

[email protected]

Harmony FitnessExperience the “harmony” between hard core boot camp workouts and core-strengthening Pilates! Enjoy our workouts in an inspirational and positive atmosphere. Just show up for an hour of fun, motivation and teamwork provided by an energetic and encouraging instructor. Locations:• Central• Sheung Wan• Hong Kong Park,• Kowloon Park• Discovery Bay. Enquiries: [email protected]: www.harmonyfitnesshk.com

CYJ LimitedCost Effective Project Management from A to Z for Stylish Offices and Homes • Total project management service on • office and home renovation • Furniture, IT, office equipment• installation• Consultancy service on finding offices • and homes• CYJ can deliver stylish results on • competitive budget on timeTel: 8199-0764 / 9121-2315Website: www.cyjltd.com.hk

26

Property Investment物業投資

Turn-key Property Investment Ltd.We provide comprehensive service for clients wishing to acquire residential properties for investment or self-use:• Property search & selection• Financial analysis• Mortgage application• Interior Design• Renovation & project management• LeasingWe have six years proven experience; past results and previous client referrals available. Enquiries please contact Derek Hinden on 9776-2555; [email protected]

Legal法律服務

Messrs. Augistine C Y Tong & Co.Solicitors & NotariesArea of practices includes• Arbitration / Mediation• China Appointed Attesting Officer• Civil Celebrants of Marriage• Civil Claims / Personal Injuries• Company / Commercial Law• Criminal Law / Intellectual Property• Family Law / Guardianship• Immigration / Employment Law• Landlord & Tenant• Wills & ProbateTel: 2521-1175Rms 403-404, 4/F, Nan Fung Tower,173 Des Voeux Road Central, Hong Kong

Vi. An designs experienced designers

for*interior design

*home decoration *party / event design and decoration

*furniture design*decorative lighting design

Yan: 9316 [email protected]

[email protected]

投資移民

投資香港物業市場，除了可讓你得到豐厚回報外，乎合資格的海外華僑、台灣或澳門人士，更可以取得香港居留權，安居樂業。詳情請向專業人士查詢：

唐楚彥律師事務所

免費查詢熱線: 2501 0619

首都置業代理有限公司

熱線: 2869 6321

Classifieds 分類廣告

Effect WorkshopEffect Workshop is an interior design and contracting company. We provide one-stop service including• Professional interior design• Project management• Contracting• Consulting service• Funiture designOffice and showroom: 2/f, 23 Queen’s Road East, Wanchai, Hong KongTel: 2625-4696 Fax: 2625-4553Email: [email protected]: www.effect-workshop.com

Motor Services汽車維修

大成車行

Tai Shing Motor Service汽車買賣，精工維修

Automotive repair and servicingUsed cars for sale65 Kam Ping Street,North Point, Hong Kong北角錦屏街65號

Tel: 2563-4143

Storage儲存服務

在這裡展示您的商品　只需$240

無論您經營地產相關服務，或希望推廣您的產品服務，在「HotListings置業指南」的刊登分類廣告，均可助您以最低成本，達到最高宣傳效

益，請到我們的網站

www.hotlistings.com.hk/ad 下載刊登表格，或致電2537-7585查詢。

Multimedia Production多媒體製作

Gala WorkshopWe’re an experienced multimedia production workshop specialised in:• Image • Graphic• Video • Photography• EventFor the details of our services, please contact us at [email protected]

nude design ltd

(interior architecture & design)

11/F Ming Fat Building,

72 Wellington Street, Central

2501-5911 ; 9027-5645

www.nude.com.hk

[email protected]

Pets寵物

Hong Kong Dog RescueLooking for a puppy? Come to Whiskers’n’Paws, Horizon Plaza, every Sunday afternoon between 2pm and 5pm to meet a selection of young pups.If you want to help save a dog’s life and give it another chance.Please contact:[email protected] (English) [email protected] (Chinese) or Phone 6462-3248 (Clio)Website: www.hongkong dogrescue.com

Removals and Transport搬運服務

安順貨運

On Shun Transport經營各類貨運、搬屋服務

Moving and relocation services.Tel: 6907-3551Fax: 3422-3662

以勒搬屋公司

Jireh Removal Co.• 基督徒主理

• 專業搬村屋、唐樓

• 搬琴、存倉服務

Tel: 3157-4178Fax: 2666-5674Website: www.yp.com.hk/jirehremoval


Get Listed in HotListings Classifieds in 3 Simple Steps

Step 1 Choose your ad format

o 1/4 page 1/4頁 HK$ 1,400

o 1/8 page 1/8頁 HK$ 700

o 1/16 page 1/16頁 HK$ 350

o 35 words, text only 35字 HK$ 240

A

First issue date and frequency Date Frequency首次刊登日期及期數日期 _______ 期數 ___________

B

Frequency Discount連續刊登折扣C

A x B - C = HK$ _________

Step 3 PaymentBy mailMail the followings to Account Department, HotListings Company Limited, Suite 1801, Wing On Central Building, 26 Des Voeux Road Central, Hong Kong(1) this form (2) your ad message (3) your crossed cheque payable to “HotListings Company Limited”

By email / faxEmail / Fax the followings to [email protected] / 2537-7586(1) this form (2) your ad message (3) payment proof of Hang Seng Bank account 385-866165-883

Note: HotListings reserved the right to alter and cancel the classifieds.

郵寄請將以下資料郵寄至：香港中環德輔道中26號1801室房地產資訊有限公司會計部(1) 本表格 (2) 您的廣告訊息 (3) 以「房地產資訊有限公司」為抬頭人的劃線支票

電郵 / 傳真請將以下資料電郵或傳真至[email protected] / 2537-7586(1) 本表格 (2) 您的廣告訊息 (3) 在恆生銀行賬戶365-866165-883的付款證明

注意：HotListings保留更改及取消分類廣告的權利

_______________________________________________

Signature and Date 簽署及日期

Name 姓名

Phone 電話

Enquiries查詢

2537 [email protected]

Step 2 Calculate the total cost

3 issues 三期 10%6 issues 六期 20%12 issues 十二期 30%

Interior Design室內設計

Removals and Transport搬運服務

Property Investment物業投資

歷山迷你倉

Alexander Storage倉存服務，價錢實惠，月租由$150起

Storage services monthly rental ranges from $150.Tel: 2753-5855 Email: [email protected]九龍灣宏照道20號金漢工業大廈206室

Room 206, Kam Hon Industrial Building, 20 Wang Chiu Road, Kowloon Bay

27

Mortgage Loan Interest Rates Prime Rate Bank Interest Rate Cash Rebate* Monthly Installment* Enquiries

*Base on a 1 million mortgage loan and 20 years loan period. Repayment plan varies by case. Please contact the bank for details.

Stamp Duty

On Sale or Transfer of Immovable Property in Hong Kong

Amount or value of the consideration RateExceed Does not exceed

$2,000,000 $100$2,000,000 $2,351,760 $100 + 10% of excess over $2,000,000$2,351,760 $3,000,000 1.5%$3,000,000 $3,290,320 $45,000 + 10% of excess over $3,000,000$3,290,320 $4,000,000 2.25%$4,000,000 $4,428,570 $90,000 + 10% of excess over $4,000,000$4,428,570 $6,000,000 3%$6,000,000 $6,720,000 $180,000 + 10% of excess over $6,000,000$6,720,000 3.75%

On Lease of Immovable Property in Hong Kong

Term RateExceed Does not exceed

1 year 0.25% x of the total rent payable over the term of the lease1 year 3 years 0.5% x of the yearly or average yearly rent3 years 1% x of the yearly or average yearly rentNot de�ned or is uncertain 0.25% x of the yearly or average yearly rentKey money, construction fee etc. mentioned in the lease 3.75% of the consideration if rent is also payable under the lease. Otherwise, same duty as for a sale of immovable property

Duplicate or counterpart $5 each

Resources 置業錦囊

5% HSBC P-1% to 1.5% 5000 5800 2748 8080 www.hsbc.com.hk

Hang Seng Bank Hibor+1% 2000 Varies 2710 2288 P-2.9 10000 5106 www.hangseng.com

Bank of China P-1.25% 2000 5929 3669 3233 P-1.5% 5000 5800 www.bochk.com

5.25% Standard Chartered P-3% to 3.15% 5000 5106 2886 8855 Hibor+0% to 1% 5000 Varies www.sc.com

Bank of East Asia P-2% to 2.5% 5000 5672 3608 8686 P-3.28 to 3% 5000 5145 to 5527 www.hkbea.com

Citibank P-2.85% 10000 5250 8128 3311 P-2.6% to 3% 8000 5178 to 5352 www.Litibank.com.hk

Wing Hang Bank P-2.25% 5000 5546 3199 9188 2.18% Fixed to P-2.25% - 5145 to 5527 www.winghangbank.com

ICBC P-2.9% 8000 5277 2534 3000 Hibor+0.8% to P-2.9% - Varies www.icbcasia.com

Fubon Bank P-2.85 8500 5250 2806 7222 P-2.75 7000 5299 www.fubonbank.com.hk

CCB Hibor+0.7% 5000 Varies 2805 2383 P-3.1% 10000 5130 www.asia.ccb.com


28

HotListings magazine is a publication dedicated to companies and individuals working in, or with an interest in the Hong Kong property market. It provides readers with industry updates, analysis and recent market trends.

With it’s unique bilingual advertising section, HotListings provides property owners, estate agencies and service providers with exposure to a wide local audience from myriad international backgrounds. HotListings showcases your products and services to your potential clients at their very best.

時刻掌握市場資訊，才能馳騁物業投資市場。HotListings 置業指南為地產從業員、置業人士及投資者，提供最新的市場走勢及物業訊息。

HotListings置業指南也是發展商、物業代理、業主、以及各行業的宣傳平台，讓大眾深入了解您的優質物業、產品及服務，其中、英雙語廣告資訊，更能讓你的銷售訊息接觸更廣大實力的客戶群。HotListings置業指南助你以最輕鬆的方式，拓展商機。

Accessible from our website設有網上版本

Provides more affordable, flexible and tailor-made advertising solutions 提供更實惠、具彈性、及量身訂造的宣傳方案

P

P

Reaching both English and Chinese speaking potential clients能接觸中、英語的客戶

Distributed in various convenient locations citywide在全港多個方便地點派發

P

P

For more information about advertising opportunities in HotListings, please contact our advertising team請即與我們的廣告部聯絡

Tel 電話： 2537 7585Email 電郵： [email protected] 網址： www.hotlistings.com.hk


Your Source for Quality Properties您的優質置業指南

hotlistings december 2009

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