June 30, 2009

Garden House on The Peak sold for $196,800,000

Landscope Realty is pleased to announce the completion of the sale and purchase of a garden house at The Belvedere, No. 57 Plantation Road, The Peak for $196,800,000.

The sale is the latest in the recent sizeable luxury residential transactions in Hong Kong. According to Maria Cheung, a manager with Residential Department, who brokered the landmark deal, the sale has manifested buyer’s confidence in the luxury property market. “The neo-classical house boasts the most breath-taking, bird’s eye view of the Victoria Harbour from the vantage point on The Peak. The house has its own swimming pool and garden, and provides spacious car parking and storage space in the basement,” she added.

Alan Wong, a director of Residential Department, commented further that the improved market sentiments and economic indicators have encouraged many investors to enter the luxury property market in the last four months. Sales of sizeable properties have tripled since last May compared with beginning of the year.

The buyer is a low-key Hong Kong businessman who wishes to remain anonymous.

The Belvedere is nestled in the best location to take in an unobstructed, bird’s eye view of the Victoria Harbour. The outstanding design and superior quality of construction make The Belvedere one of the best house developments in the Peak. The development comprises six 3-storey detached houses and each with private pool and sundeck. Spacious car parks are provided in the huge basement.

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