Kowloon Peak Development Offers 5% Discount to House and Villa Owners
On.cc · 1 SOURCES1 day ago7 MIN
Summary
Cheung Kong's Montara Kowloon Peak (名日‧九肚山) development has introduced a targeted "Mountain Views" (山高有景) privilege program, offering a 5% discount exclusively to 10 qualified buyers who are current or former residents of Hong Kong houses or villas. The promotion begins on October 2 and requires buyers to present valid documentation proving their residence history in landed properties when signing the preliminary sale and purchase agreement. Cheung Kong sales manager Chan Hun-wing (詹勳榮) noted that many prospective buyers touring the show flats are affluent individuals currently or previously living in houses and villas, seeking to upgrade to spacious flats without navigating stairs—a feature particularly appealing to retirees and older residents. The specified units are located in Towers 1 and 2, all facing southeast, with six three-bedroom suite units with workroom (1,053 square feet) and ten four-bedroom double-suite units with workroom (1,213 to 1,226 square feet). Entry-level options include Tower 1, 15/F, Flat A at HK$21.011 million (HK$17,322 per square foot) and Tower 1, 15/F, Flat B at HK$17.823 million (HK$16,926 per square foot). The developer is also covering stamp duty and providing furniture vouchers worth HK$380,000 or HK$480,000. A newly decorated four-bedroom show flat in Tower 2 is now available for appointment viewing. Since launch, the project has sold 242 units for over HK$3.85 billion, leaving just 24 final three- and four-bedroom units available.
Key Points
- "Mountain Views" privilege offers 5% discount to 10 qualified buyers who can prove current or previous residence in Hong Kong houses or villas
- Promotion effective from October 2; buyers must present valid documentation when signing preliminary agreement
- Six specified units are three-bedroom suite with workroom (1,053 sq ft); ten are four-bedroom double-suite (1,213-1,226 sq ft)
- Entry unit Tower 1, 15/F, Flat A: HK$21.011 million (HK$17,322 psf); Tower 1, 15/F, Flat B: HK$17.823 million (HK$16,926 psf)
- Project sold 242 units totaling over HK$3.85 billion; only 24 premium three- and four-bedroom units remain
Why It Matters
The targeting of landed property owners reflects developers' recognition of Hong Kong's aging population seeking convenience without sacrificing space—a demographic trend reshaping luxury housing demand. This strategy positions Montara Kowloon Peak as a bridge between traditional landed prestige and modern flat living, potentially setting a precedent for similar "downsizing without compromise" campaigns in the high-end market .