ONE STANLEY Villa Sells for Record HK$118M, Setting Dual Highs
SingTao · 1 SOURCESabout 1 hour ago2 MIN
Summary
K&K Development's ONE STANLEY project in Stanley reported two significant property transactions on Monday, including a record-breaking villa sale exceeding HK$118 million. The 17th villa, spanning 3,059 sq ft, achieved a price per sq ft of HK$38,598, setting new highs for both total price and unit price among comparable properties. A second transaction involved a duplex unit in Block 9, sold for HK$86.95 million. The developer noted strong buyer interest, with the project having sold 53 units totaling over HK$5.7 billion in transaction value. Since June, the project has recorded sales of five villas and three residential units, generating more than HK$1 billion. K&K Development is considering raising its internal target prices in September.
Key Points
- Villa No. 17 at ONE STANLEY sold via tender for over HK$118 million, with a unit price of HK$38,598 per sq ft, setting dual record highs
- The 3,059 sq ft villa features 4 bedrooms, 4 ensuites, a study, maid's room, utility room, front and rear gardens, and rooftop
- Cross-border businessman buyer chose the Stanley location for nearby international schools and comprehensive clubhouse facilities
- Block 9 duplex (ground and first floor, Unit A) sold for HK$86.95 million at HK$35,260 per sq ft; buyer previously lived in Kowloon
- Project has sold 53 units totaling over HK$5.7 billion; 5 villas and 3 residential units sold since June worth over HK$1 billion
Why It Matters
The record-breaking transaction at ONE STANLEY underscores sustained demand for ultra-luxury residential properties in Hong Kong's southern district, where limited supply and proximity to prestigious international schools continue to attract wealthy buyers. The strong sales performance and potential price adjustments signal confidence in the high-end property market, potentially influencing broader market sentiment as developers adjust pricing strategies.
The record-breaking transaction at ONE STANLEY underscores sustained demand for ultra-luxury residential properties in Hong Kong's southern district, where limited supply and proximity to prestigious international schools continue to attract wealthy buyers. The strong sales performance and potential price adjustments signal confidence in the high-end property market, potentially influencing broader market sentiment as developers adjust pricing strategies.