The first phase of MOUNT NICHOLSON, a super luxury property on the Peak jointly developed by Wharf and Nan Fung and marketed by Wheelock Properties, was put up for tender earlier this month and the tender was closed on the 13th of this month.

The 3-storey townhouse 12 has a basement level and a usable area of 7,042 sq ft with 4 bedrooms and a private garden of 2,715 sq ft. It is located on one side of MOUNT NICHOLSON Phase I. The buyer paid for the property in 74 days with a 10% down payment.

On the other hand, China Resources Land (Overseas), in partnership with Poly Land, sold Unit B, 30/F, Block 8, with a saleable area of 1,187 sq ft, a 3-bedroom flat with private lift lobby, for $43.535 million at around $36,650 per square foot. The property has sold 84 units so far, generating over $4.16 billion in cash.

As a matter of fact, due to the clearance effect, new luxury property transactions have been brisk so far this year, with 28 new luxury properties over $100 million in the first quarter of this year, up 3.6 times from only 6 in the fourth quarter of last year, according to the Consolidated Residential Properties Sales Information Website.

Among them, Altus Link House No. 6 in CENTRAL PEAK Phase 2 in Mid-Levels East was sold for over $409.6 million at a high price of $102,000 per square foot, making it the largest and highest priced new luxury residential property transaction in the first quarter of this year, while ST. GEORGE'S MANSIONS in Ho Man Tin, Kader Ka Fung Hui and Providence Peak were all sold for over $100 million.

In addition, Longwood Group's Kai Tak Providence Peak, which has been occupied for about two years, launched 12 additional units yesterday and will be available for sale from Friday until June 30 this year by daily closing bids.

The 12 units include penthouse with rooftop units, penthouse duplex with rooftop units and podium units with saleable area ranging from 1,087 to 2,040 square feet on the upper floors of Blocks 1 and 2. To tie in with the sale of the project, the developer has partnered with four estate agents - Centaline, Midland, Ricacorp and Hongkong Land - to offer furniture vouchers of up to $880,000 for four designated penthouse units.

According to Mr Kwan, Senior Marketing Director of Longhu Group Hong Kong, this batch of tender units will be priced at around $36,000 per square foot with reference to past transactions. Over 30 units of Providence Peak have been sold since the beginning of the year, with 80% to 90% of the buyers being new arrivals, who usually prefer three-bedroom, four-bedroom and large units with special features.

The whole development has sold 617 units so far, accounting for about 90% of the total number of units, together with the carparking spaces and shopping malls, the cash realized is $12.4 billion, with an average selling price of $28,019 per square foot.

She said that the upcoming new developments in the Kai Tak area will draw more attention to the area, as the Providence Peak project is within walking distance to the MTR station and adjacent to the Kai Tak River area, which will be turned into a Hong Kong version of the "Meguro River", and it is believed to be more advantageous than other new developments as it is ready to buy and live in.

From now to 30 April, the first 3 buyers who purchase the property through Centaline Property will receive a free Japanese brand star-rated dehumidifier worth $5,600 each, worth $16,800.