Savills By Order of the Receivers Appointed as Sole Agent for the Tender Sale of House E, 10 Black’s Link

The Property is situated in the prestigious residential area of Black’s Link on The Peak, which is renowned for its prime location and breathtaking views, encompassing both Deep Water Bay and Repulse Bay in the southern district. Embraced by verdant greenery, providing an elevated level of privacy. It is conveniently located near the junction of Wong Nai Chung Gap Road and Repulse Bay Road, providing easy access to the bustling Central business district, which is approximately a 14-minute drive away. Furthermore, the Deep Water Bay Beach is just a short 6-minute drive from the property. It also benefits from proximity to a network of esteemed international schools, with the French International School situated nearby. Additionally, it is near several top-tier private clubs such as the Hong Kong Golf Club, the Aberdeen Marina Club, and the Hong Kong Cricket Club, offering residents a wealth of recreational opportunities.

Mr. Raymond Lee, Chief Executive Officer, Greater China of Savills stated, “Despite the high interest rate environment in 2023, the luxury property market has remained stable. Properties on the Peak and Southern District have been highly sought after by buyers. In the first month of 2024, the luxury property market has already recorded over 5 transactions exceeding HK$ 100 million. The largest transaction was the sale of 25-26A&B, Lugard Road, The Peak, facilitated by Savills Hong Kong, which transacted at HK$838 million, indicating a fervent demand for high-quality ultra-luxury properties.

Furthermore, as part of the recent 2023-24 Budget announcement, stamp duties have been removed. Moreover, for buyers without a Hong Kong permanent resident identity card, the stamp duty rate has been reduced from 15% to maximum 4.25%. This significant reduction in stamp duty rates translates to potential savings of tens of millions of dollars for super luxury properties. It is anticipated that this policy change will attract a larger number of domestic investors.”

Mr. Raymond Wan, Chief Senior Director, Investment of Savills commented, “The property enjoys an excellent location, adjacent to well-known celebrities and notable families in the city. This property for sale is the relatively new single lot house on Black’s Link and has never been publicly available on the market before, making it extremely rare. Additionally, luxury property prices have adjusted significantly from their peak, resulting in a decrease in transaction cost. It is expected that traditional luxury residential areas will be the first choice for various investors, as this presents an opportune time for investors and buyers to acquire high-quality assets.”

^Provided by Rating and Valuation Department