Kerry Properties Sells Mount Beacon Unit for HK$200M at Record HK$46,243 psf
SingTao · 2 SOURCESabout 3 hours ago2 MIN
Summary
Kerry Properties has successfully sold a fully-furnished split-level residence at Mount Beacon, the group's super-luxury development in Kowloon Mid-Levels, through a tender process on September 1. The transaction for Unit B on the 1st floor of Tower 5 fetched HK$200 million, including two residential parking spaces, translating to a unit price of approximately HK$46,243 per sq ft. The sale adds to the project's impressive year-to-date performance of 12 units sold, generating total proceeds exceeding HK$2.8 billion.
Key Points
- The sold unit, Tower 5, 1/F, Unit B, has a saleable area of 4,325 sq ft plus a 256-sq-ft front court, featuring a four-bedroom, four-ensuite layout with double domestic helper rooms
- The transaction was conducted via tender with the buyer receiving two residential parking spaces included in the HK$200 million total consideration
- Mount Beacon has sold 55 units since launch, accumulating over HK$16.4 billion in transaction value with an average price per sq ft of approximately HK$58,000
- Nine premium units remain available: eight split-level residences and one penthouse with exclusive rooftop access
- The development comprises five residential towers and three villas with private gardens exceeding 10,000 sq ft, an outdoor pool, private elevator, and parking garage
Why It Matters
The continued strong sales performance of Mount Beacon, which commands prices significantly above the broader luxury market average, underscores persistent demand among ultra-high-net-worth buyers for limited-edition residential offerings in Hong Kong's most prestigious addresses, even as other market segments face headwinds .
The continued strong sales performance of Mount Beacon, which commands prices significantly above the broader luxury market average, underscores persistent demand among ultra-high-net-worth buyers for limited-edition residential offerings in Hong Kong's most prestigious addresses, even as other market segments face headwinds .