The Kwan family spent HKD 180 million to purchase the independent house at Shouson Peak in the Southern District, with a price per square foot of HKD 50,000

Local media reports indicate that members of the Kwan family from Sun Hung Kai Properties (00016.HK) spent HKD 180 million earlier this month to purchase an independent house at Shouson Peak in the Southern District, with a price per square foot of HKD 50,000. The house has a usable area of 3,600 square feet, along with a 750 square foot terrace and a 1,138 square foot garden, priced at HKD 50,000 per square foot, and the developer has paid 4.25% of the purchase price as stamp duty on their behalf, amounting to HKD 7.65 million.

Shouson Peak offers 31 independent houses, and an adjacent independent house with a usable area of 3,603 square feet, along with a 750 square foot terrace and a 1,138 square foot garden, was sold for nearly HKD 265 million in mid-2016, at a price per square foot of HKD 73,485, which is 32% higher than the price per square foot paid by the Kwan family members