Luxury bungalow in Kheam Hock sold for $13.28 mil
A brand-new freehold luxury bungalow in the Kheam Hock landed housing estate was sold for $13.28 million ($2,586 psf).
The 2½-storey house, which sits on 5,137 sq ft of land, is one of three bungalows along Narooma Road developed by boutique real estate developer Lighthouse Developments.
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Hong Kong's home prices are so scary, people will live with ghosts to get a discount
Which is more frightening: a haunted house or one that takes a lifetime to save up for? For most people Hong Kong's sky-high property prices are a more terrifying prospect than the thought of living with ghosts, if a recent survey is anything to go by.
More than half of the respondents quizzed by Squarefoot, an online property portal in Hong Kong, said they would consider living in a home which hides a tragic past " if the price was right.
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Shopping Guide: Furnishings For Your Gender-Neutral Nursery
Gone are the days when parents go all out in decorating their nursery with the gender of the baby in mind. These days, regardless if it's a boy or a girl, nurseries tend to be more of a gender-neutral space. From being too traditional, the focus has already been on the design and functionality rather than the colour schemes.
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UNDER THE HAMMER: Detached home at Paradise Island for sale at $12.9 mil
A 2½-storey detached home at 2 Paradise Island, in Sentosa Cove in District 4, will be put up for auction on June 26 for the first time by Edmund Tie and Co (ET&Co). This is a mortgagee sale with a guide price of $12.9 million ($1,830 psf).
The house was purchased from the developer in April 2007, at $7.54 million ($1,071 psf), based on caveats lodged with URA. “Since it has been 12 years, the new owner will need to do major renovations on the unit,” says Joy Tan, head of auction and sales at ET&Co.
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Shophouses: Kampong Glam and Little India poised to be the next growth area
The story of shophouses within the CBD has already been adequately covered over the past few years. Location, location, location – this has always been a key factor to consider when investing in real estate. Due to the intense popularity of shophouses, supply is very tight, with little room for negotiation as both sellers and buyers are at a standoff in terms of price.
Shophouse investors are now beginning to set their sights on two other conservation areas with tremendous potential in terms of capital and rental growth: Kampong Glam in District 7 and Little India in District 8.
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Two Good Class Bungalows up for sale at $42 mil each
Two Good Class Bungalows (GCBs), at 5 Bin Tong Park in District 10 and 22A King Albert Park in District 21, are up for sale via expression of interest (EOI) at $42 million each. Edmund Tie and Co (ET&Co) is the exclusive sole marketing agent. Each GCB will be sold under an owner sale.
Both properties will be sold with vacant possession, or with tenancy on an “as is where is” basis. 5 Bin Tong Park runs on a month-to-month tenancy, while the tenancy for 22A King Albert Park ends in Oct 2019.
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Three-bedroom unit at One Amber earns $1.48 mil profit
The sale of a three-bedroom unit at La Suisse, a condo on Swiss View Road in District 11, earned its seller a profit of $1.63 million (177%) on May 31. The 2,099 sq ft unit changed hands for $2.55 million ($1,215 psf), having been bought for $920,000 ($438 psf) in November 2006. This translates to an annualised profit of 8.4% over more than 12 years.
The sale is the most profitable on record for the week of May 28 to June 4, and is also the most profitable deal ever recorded at the 999-year leasehold development. The latest transaction tops an earlier sale in 2011, which made a profit of $1.42 million (169%) for the seller of a 2,131 sq ft unit. The earlier sale fetched $2.25 million ($1,056 psf) when it changed hands in March that year, compared to its purchase price of $835,000 ($392 psf) in July 2006.
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