In recent years, there is very little supply of large new properties, until the rise of the south shore of Hong Kong Island, so that the new property Wong Chuk Hang grabbed all the attention of the market. In addition to the MTR superstructure, if we look at the railroad development in Hong Kong, we will see that there are few sales, which will certainly make the project become the focus of the market.
The fourth phase of the project is located at 11 Heung Yip Road, Wong Chuk Hang, subdivided into 4A and 4B phases, provided by two blocks, providing a total of 800 units, to be launched in mid-2023. Phase 4 will be subdivided into two phases of development, with Phase 4A being the first to be launched, involving Blocks 2A and 2B, providing 432 units. The standard units account for 416 units, ranging from one-bedroom to three-bedroom, with a total of 7 types of flat types and a usable area ranging from 389 to 915 square feet; there will also be 16 units with garden or rooftop features, with a usable area ranging from 351 to 1,847 square feet and the largest unit with a four-bedroom partition. The expected key date is May 2025.
According to the brochure, the smallest unit is located on the 5th floor of Block 2B, Room G. It is a garden unit with a usable area of 351 sq. ft. and 119 sq. ft. of garden outside. The unit is a one-room partition with an open kitchen. The smallest standard unit is located on the 6th to 12th floors and 15th to 23rd floors of Block 2B, Room G, with a usable area of 389 sq ft, with a 22 sq ft terrace and a 16 sq ft working platform.
As for the largest unit in the development, it is the featured unit on the 43rd floor of Block 2B, Room A, with a usable area of 1,847 square feet, including a 62-square-foot balcony with a 531-square-foot terrace and a staircase connecting to a 1,452-square-foot rooftop. There are 465 two-bedroom units, with Phase 4A offering 272 units and Phase 4B offering approximately 193 units, the largest number of unit types in the development. The project does not offer open-plan units, which have attracted much market attention in recent years.
The first batch of 88 units in Phase 4, covering 1 to 3 bedrooms, with a usable area of 403 to 914 square feet, priced at $11,789,000 to $36,751,000, with a unit price of $29,253 to $42,684, offering a maximum discount of 18%, with a discounted price of $9,667,000 to $30,135,900, with a discounted unit price of $23,988 to $35,001. The unit is Unit G, 6/F, Tower 2A, with a usable area of 403 sq ft, 1 room partition, at a discounted price of $23,988 per square foot. A variety of payment options and incentives are available, including stamp duty concessions and up to 70% of the property price.
In addition, the project is designed by the famous architectural and design team LWK + PARTNERS Leung Wong Koo Architects (Hong Kong), the design of the project is inspired by the mountains and coastline of the Southern District, the overall design of the project to match the advantages of the project's geographical location, the architectural planning, exterior design, interior decoration, as well as the selection of materials and ancillary aspects have also taken great care to create an elegant and comfortable and landmark-style architecture of quality luxury residential buildings The Southshore development on Hong Kong Island
The South Island development also features the largest leisure and lifestyle landmark mall on Hong Kong Island South. With the development of Hong Kong Island South into a new vibrant community, THE SOUTHSIDE will become the largest leisure and lifestyle landmark mall in Hong Kong Island South and the first mall in Wong Chuk Hang. The mall is seamlessly connected to MTR Wong Chuk Hang Station, providing a one-stop leisure and shopping experience for the public. With a total gross floor area of nearly 510,000 square feet, the mall is expected to be completed in 2023.
In addition to the completion of the new residential project, the buildings around Wong Chuk Hang Station, including industrial buildings and old commercial buildings, will be revitalized and transformed into a new business district under government policies and support from consortia, including many Grade A commercial buildings.
After the Wong Chuk Hang Station has become a new commercial area, the market demand for quality residential properties in this area is bound to increase greatly. The new property above the railroad together with the surrounding facilities will turn Wong Chuk Hang into a brand new living area with both luxury and high quality, which is believed to be the object of many strong buyers.
With the development of "Leapfrog Hong Kong Island South", coupled with the rare supply of large-scale residential projects above the railway on Hong Kong Island in recent years, the Wong Chuk Hang Hong Kong Island South Coast project has become the focus of the market and become the key development area on Hong Kong Island, so many buyers and prospective buyers are optimistic about the development advantages and property appreciation potential in the area, so there is no shortage of buyers in the area for self-use and long-term investment, and attract many wealthy and celebrities in the city.
