{"id":13774,"date":"2021-05-19T12:08:17","date_gmt":"2021-05-19T05:08:17","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=12384"},"modified":"2021-06-04T16:12:57","modified_gmt":"2021-06-04T09:12:57","slug":"hong-kongs-booming-luxury-housing-market-could-snap-up-jardines-lookout","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/hong-kongs-booming-luxury-housing-market-could-snap-up-jardines-lookout\/","title":{"rendered":"Hong Kong&#8217;s booming luxury housing market could snap up \u2018Jardine&#8217;s Lookout\u2019"},"content":{"rendered":"<p><span data-contrast=\"auto\">Surveyors say the residential site could be worth HKD500 to 600 million<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\"><img decoding=\"async\" class=\"alignnone size-full wp-image-12385\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/05\/shutterstock_307145690.jpg\" alt=\"\" width=\"1000\" height=\"668\" \/>According to Savills, a Jardine\u2019s Lookout site offered for sale might be quickly snapped up during a boom in Hong Kong\u2019s luxury housing market, reported <a href=\"https:\/\/www.scmp.com\/business\/article\/3133950\/jardines-lookout-site-could-be-snapped-quickly-amid-boom-hong-kongs-luxury\" target=\"_blank\" rel=\"noopener\">South China Morning Post<\/a>.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">David Ku, senior manager, residential development and investment, at Savills, said the site could draw in buyers from among senior executives of technology companies in Hong Kong, including those from mainland China.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">\u201cAll technology giants, such as Alibaba, are in Causeway Bay. Jardine\u2019s Lookout is just a five minutes\u2019 drive from Causeway Bay, unlike traditional luxury districts such as The Peak and the Southern district, which are farther,\u201d he said.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The city\u2019s luxury housing market is\u00a0upturning as the number of transactions for villas soared 74.5 percent month on month to 82 in March, a nine-month high, said\u00a0Centaline\u00a0Property Agency.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/government-lures-wealthy-tourists-to-free-thailand-from-middle-income-trap\/\" target=\"_blank\" rel=\"noopener\"><strong>More: Government lures wealthy tourists to free Thailand from middle-income trap<\/strong><\/a><\/p>\n<p>Ku\u00a0added that the luxury market was \u201cbooming and red-hot. Houses on The Peak have sold like hotcakes \u2013 like Wheelock\u2019s Peak Road project. Many have broken records in recent transactions\u201d.<\/p>\n<p><span data-contrast=\"none\">He allotted the recent spike to revenge spending after a stagnant market last year, and he expects the momentum to continue as more people get vaccinated.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Houses in Jardine\u2019s Lookout can generally call for prices between HKD70,000 and HKD85,000 per square foot. Surveyors say that the cost for redeveloping the site could be between HKD5,000 and HKD8,000 per square foot.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Surveyors say that the residential site could be worth HKD500 million to HKD600 million\u00a0<\/p>\n","protected":false},"author":12,"featured_media":19609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[1357,171,1358,1359],"class_list":["post-13774","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-boom","tag-hong-kong","tag-luxury-housing","tag-rapid-spending","news_country-hongkong","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with 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