4 April 2019 - Hong Kong’s property market is ready to soar back in the Year of the Pig after a steady decline of 10-20% since August 2018. New single-block developments remain higher demand among young buyers. In March, Henderson Land has unveiled its brand new single-block development project, The Consonance, with a price range of HK$5.2 to HK$7.9 million (i.e. HK$25,268 - HK$31,077 per sqft.). The units will be available for sale this weekend.
Owned by Henderson Land’s Chairman, property tycoon Lee Shau-kee, The Consonance boasts an omnipotent presence in the quaint Jupiter Street, Tin Hau. The building is conveniently located in between Tin Hau and Fortress Hill MTR stations, so as several bus stops and tram stops. Residents are treated to a wide variety of restaurants. They are also surrounded by multiple supermarkets and the Causeway Bay wet market, which makes getting the freshest products in town incredibly easy. The shiny new building only takes a several minutes of walk to the Victoria Park, Central Library and Causeway Bay Sportground. Through the park, you can easily reach Causeway Bay for shopping and entertainment that makes life at The Consonance much more fun.
The new first-hand developments haven’t stolen all the limelight, as the second-hand property market in the area blooms side by side. According to recent transaction record, DIVA on Electric Road was sold for $16,736 per sqft, Park Tower, where located above Tin Hau MTR station, pocketed $25,824 per sqft. On the other hand, a 280 sqft unit at the Hemispheres scored $25,571 per sqft - a record high for this development. Comparing to the price range of the second-hand property market, the asking price of the Consonance is considered fair.
The Consonance offers a total of 216 units, including studios and one-bedroom apartments with the smallest net saleable area of 175 sqft, which is tiny even by Hong Kong standard. Taken the issue into consideration, the developer has adopted very thoughtful design to compensate for the relatively small size. The rooms and living rooms are separated by a sliding door that can be opened to create one bigger connected living space. The same technique is being used for the glass sliding door separating the living space and balconies. The use of glass material allows ample light into the apartments. All units are furnished with open plan kitchens and moveable work stations to maximise space.
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For home-seekers who are looking for completed flats, DIVA would be a good option. The apartments also come with trendy open kitchens, however some might say the pre-installed 18.2 feet long windowsill in the open kitchens might limit the use of space. Another design concern is the windows, the natural light from the two side of the windows make the living room look more spacious, but the privacy is relatively low of being very close to their building next door. DIVA also offers two bedroom and three bedroom flats with sufficient living space. No matter if you are singles, couples and big family with 4-5 family members, you will find a suitable home. The spacious clubhouse within added a luxurious touch of this development. Being popular among residents and investors, DIVA has it all.
