Senior Investor Acquires ONE STANLEY Four-Bed Duplex for HK$52 Million Ahead of Price Hike
AM730 · 2 SOURCESabout 2 hours ago2 MIN
Summary
K. Parkside Property Group's upscale seaside development ONE STANLEY in Wong Ma Kok Road, Stanley, has recorded another significant transaction. A local senior investor purchased a four-bedroom duplex flat on September 30 through tender at a price of approximately HK$52.04 million, representing HK$27,246 per square foot of saleable area. This marks the investor's fourth unit acquisition in the project, following previous purchases of three other special residential units.
Key Points
- The transacted unit, Flat B on the first and second floors of Block 3, spans 1,910 square feet of saleable area with a four-bedroom dual-ensuite layout
- The duplex occupies the project's top floors along Coral Avenue, featuring a private elevator lobby and a living and dining area measuring over 8.8 meters in length and 4.6 meters in depth
- The buyer is a local senior investor who had previously acquired three special residential units in the development, attracted by its South Bay traditional luxury location and Robert A.M. Stern Architects' design
- ONE STANLEY has achieved nine transactions since August, bringing total units sold to 59 with cumulative sales proceeds exceeding HK$6.25 billion
- The developer plans to raise internal price guidance for all unit types starting October 1, following the National Day holiday, citing shrinking supply of premium seaside properties
Why It Matters
The continued appetite for ONE STANLEY units by seasoned investors underscores the resilience of Hong Kong's ultra-luxury residential market despite broader economic headwinds. The planned price increase signals developer confidence in sustaining demand for scarce South Shore waterfront properties, while the recorded rental yield of 3.4 percent provides tangible investment justification amid volatile market conditions .
The continued appetite for ONE STANLEY units by seasoned investors underscores the resilience of Hong Kong's ultra-luxury residential market despite broader economic headwinds. The planned price increase signals developer confidence in sustaining demand for scarce South Shore waterfront properties, while the recorded rental yield of 3.4 percent provides tangible investment justification amid volatile market conditions .