24 May 2019 - Island Garden, Nan Fung Group’s popular establishment in Hong Kong’s Eastern District, has attracted prospective buyers since 2016. While owners have gradually moved in, the remaining 11 special units will be on sale later this year.
Located in Shau Kei Wan, Island Garden offers four blocks of 470 units with a net area of between 485 and 2,290 square feet. According to property data, Island Garden’s latest transaction in April last year pocketed $21.1 million, or $24,534 per square foot. That price is on par with those of two other major housing estates in the area, Grand Promenade and Les Saisons. Earlier this month, a unit at Grand Promenade was sold for $23,565 per saleable unit, representing an over 118% increase from the previous transaction in 2009; On the other hand, Les Saisons soared 34% in its latest transaction at $26,048 per square foot. In comparison, Lei King Wan, another large-scale housing estate in the district, presents a more affordable price of $19,438 per square foot.
The premium at Island Garden ensures convenient transportation, thoughtful design and facilities and a spectacular mountain view. The property is located just 10-15 minutes from Shau Kei Wan MTR station, while multiple bus routes are also at its doorstep. Shops, restaurants, markets, as well as cinemas, community centres and children’s playgrounds are abundant. Families with children also find Island Garden particularly appealing, thanks to a selection of nearby schools, such as Shau Kei Wan Government Secondary School, Shau Kei Wan East Government Secondary School and Salesian School.
Some lucky residents at Island Garden can enjoy a sweeping mountain view and the tranquility that comes with it. Those who may not be able to take advantage of the surrounds can find solace in the complex’s excellent facilities, including an over 22,000-square foot clubhouse with a 25-metre-long indoor heated swimming pool, gym, sauna, Jacuzzi, reading area etc. A stroll along the 15,000-square foot landscaped gardens and terraces can also help residents unwind after a long day. Another new build in the area, Lime Gala, makes a keen competitor with an over 19,000-square foot clubhouse designed by reputable Japanese designer Yamagiwa Jumpei. It offers three blocks of 650 studios, one-bedroom and two-bedroom apartments, which have been filling up since January this year.
Comparing the two-room units, a low-rise, 485-square foot apartment at Island Garden seeks $29,000, or around $60 per square foot, in monthly rent, while a low-rise, 489-square foot unit at Lime Gala demands a lower monthly rent of $22,500, or $46 per square foot. Affordability aside, the layout of the two properties also contributes to buyers and tenants’ decision-making. The two-bedroom apartments at Island Garden are mostly distributed among the middle and lower floors with square-shaped dining rooms, open kitchens and sliding doors, which can hide the kitchen cabinets and by doing so, create a bigger space. Lime Gala arouses a lot of interest with its balconies, which make the living room more spacious.
Address: 33 Chai Wan Road
District: Shau Kei Wan
