The Thompson First Real Estate in Aurous Hill was highly sought after when it first opened, but more than a year had gone by and it has yet to be fully sold out. Although the villas had been snatched up, there were still some flats available for sale. This was due to the high overall positioning and pricing of the property, which was a typical example of an area with unequal distribution of wealth.
The focus of this high-low residential area was primarily on luxurious villas.
Ideally, the developer would like to turn it into a villa-only community, but to comply with the floor area ratio regulations imposed by the management, a portion of the land had been set aside for high-rise apartments.
The truly wealthy had already bought the expensive villas, which range from tens of millions to over one hundred million. The remaining apartments, priced from 10 million to 30 million, were in an awkward position regarding their positioning.
Those who could afford to buy a house at such a high cost are considered to be a part of the upper middle class. They often displayed a strong sense of entitlement and considered themselves to be a part of the elite in society. As a result, they would rather be a leader than a follower.
When it came to buying a home, these individuals tended to prefer communities that were predominantly composed of apartments, rather than high-end villas. They often opted for larger-sized apartments in these communities.
The middle class preferred to avoid the high-low residential area, as they had substantial net worth in the tens of millions and wanted a sense of achievement from their purchase.
Living in a mid-range community and owning a car worth over a million yuan would be considered impressive, but in a luxurious community like Thompson First, even the domestic workers might not measure up to the wealthy villa owners. This was the last thing they want to experience, as they did not want to be constantly overshadowed by the opulence of the villa owners.
The underground parking lot of the community was dominated by vehicles worth over 3 million, with more than half being high-end luxury cars. Cars worth less than 3 million, mostly from America, were considered modest and unremarkable compared to their more expensive counterparts.
Driving a standard luxury car like a Mercedes-Benz S-Class or BMW 7 Series could make one felt out of place in this opulent community, where one’s neighbors boasted even more extravagant and expensive vehicles.
When Christopher’s family came to inspect the property, Harold made a memorable remark. He believed that residing in this neighborhood was equivalent to serving as a shield for the wealthy individuals residing in the luxury villa area within.
As a result of this somewhat uncomfortable position, the villas in Thompson First struggled to find tenants after opening, yet these flats had continued to sell until present times.
Thankfully, Angela wasn’t bothered by these details. She simply sought a suitable home close to the school to serve as her private sanctuary.
Her requirements for the house were straight forward, easy access to transportation, a nice surrounding, quality furnishings, a prestigious real estate positioning and a refined cultural environment that would allow her to live peacefully as a young woman without having to worry about a noisy, low-quality atmosphere’.
When she arrived at the Thompson First sales office in a luxurious Rolls Royce, she had already made up her mind to buy a property in the complex.
The community’s close proximity to the school was a key factor in her decision, as transportation convenience was a major priority for her. In addition, the high-end positioning of Thompson First made it the top choice in the area and Angela was confident that she wouldn’t need to look elsewhere. While she had met many requirements for her home, transportation convenience was undoubtedly a crucial aspect.
Upon arrival at the sales office, Michelle accompanied Angela every step of the way. The atmosphere was much quieter than it was when the market first opened.
As soon as the salesperson saw a Rolls Royce parked by the side of the road, they were already ecstatic.
As Angela and Michelle stepped out of the luxurious car and approached the sales office, the sales director personally came out to greet them.
With great enthusiasm, the director opened the door for the two and said with utmost respect, “Welcome to Thompson First, would you like me to provide you with an overview of our project?”
Angela nodded, then cast a glance at the sales office.
She pointed to a row of high-rise buildings near the river on the huge, exquisite sand table in the center of the building and asked, “Is there any apartment available in this building?”
The sales director was quick to respond, “Yes, certainly! This building is one of the kinds of buildings in our flats. It offers a magnificent view and with our super large floor-to-ceiling viewing windows, you’ll have a panoramic view of the first-line river view!”
Angela followed up with another question, “Can you tell me more about the apartment type?”
The sales director responded energetically, “Miss, this apartment is our largest offering with a floor space of around 240 square meters. It comes with two and a half balconies and a bonus equipment room. The combined area of the balconies is over 8 square meters and the equipment room has an impressive 16 square meters of space!”
“It’s like receiving an extra bedroom for free! Plus, it has already been finished and decorated with a closed balcony that can be utilized as indoor space. These extra spaces bring the total usable area to over 250 square meters, an increase of 50 to 60 square meters.”
Angela expressed her confusion, “Two hundred and forty plus sixty doesn’t equal to two hundred and fifty.”
The sales director was taken aback, “Oh, I apologize for the mistake. Our shared area is considered a high level and accounts for nearly 20%. The shared area was not included in the calculation.”
Angela was also surprised, “Shared area? I grew up in a villa and have never bought a house or apartment, so I’m not familiar with real estate concepts. Furthermore, I’ve been focused on my studies.”
She went on to add, “Even though shared areas were once a popular concept in Hong Kong, it has been abolished ten years ago.”
Michelle stepped in and quietly explained the concept to Angela. After a short conversation, Angela finally understood what the shared area meant in the context of Hong Kong real estate. Although the apartment with more than 250 square meters was spacious, Angela felt it was a little too big for her needs.
She then asked the sales director, “Is this the only type of apartment available? Do you have any smaller options?”
The sales director replied, “This building has apartments of this type, with one elevator per household and a separate elevator for entry. If you don’t mind the view, you can consider the building behind, it has units of 180 square meters.”
Angela gazed at the approximate location, then shook her head and said, “No, let’s stick to this building. Do you have any units available on the top floor?”
The sales director nodded, “Yes, there was one unit on the top floor that recently became available. The previous buyer paid a deposit of one million yuan, but their loan was not approved, so they had to back out.”
Angela decided without a moment of doubt, “Alright, I’ll take it.”
The salesperson was taken aback, as they didn’t expect Angela to make a quick decision to purchase the apartment after just viewing it for the first time.
This was a luxurious apartment worth over 30 million yuan. Anyone who was considering purchasing such an expensive property would naturally take their time to thoroughly inspect the details and compare their options before making a final decision.
However, Angela did not have the energy to go through a thorough selection process for an apartment. Despite not having seen the unit in person, she was content with its location, transportation accessibility and ample size. Since it met her requirements, visiting the site would only be to examine the decoration details.
She realized that Aurous Hill had the finest real estate options and if she wasn’t pleased with this one, the others would likely disappoint her even more. Thus, she saw no need to waste time comparing other options.
“Why don’t I show you the apartment?” The sales director suggested “After all, it’s a 30 million yuan investment…”
Michelle chimed in, “Yes, Angela, let’s go have a look. If there’s anything you’d like to change in terms of layout or details, just give us an idea. And if you need an interior decorator, we can arrange that for you.”
Angela expressed her concern, “I love the top floor, but the sales director said there’s only one unit. I’m afraid someone else might take it.”
Michelle said with a grin, “Relax, Angela, the units in this building aren’t in high demand.”
The sales director chimed in, “Yes, there have been a few interested buyers, but the price is indeed steep. To be honest, it’s not an easy sell. Why don’t we just take a quick look? It’ll only take ten to twenty minutes…”
“You’ll be able to make a decision with confidence afterwards. And if you’re satisfied with what you see, we can come back and finalize the sale by signing the contract and making the deposit payment.”
Angela was unwavering in her decision and replied, “I don’t mind the risk. I’d rather secure the apartment with the intention deposit, even if there’s only a slight chance of it being taken. What do I need to pay right now to lock it in?”
The sales director responded promptly, “If you have the funds available, you can secure the apartment by paying a 1 million yuan deposit. This will guarantee that no one else can purchase it. However, if you decide not to proceed with the purchase, we will deduct 10% of the intention deposit as a fee.”
“Sure thing,” Angela replied confidently, “Swipe the card right away!”
The sales director beamed with joy and gestured towards the VIP room, saying, “Right this way, Miss!”
Angela followed the sales director into the VIP room and just as the door shut behind them, a masked middle-aged man walked in.
Another sales executive promptly approached him and greeted respectfully, “Hello Sir, are you here to view the property?”
“Yes, I want to move in immediately with my belongings. The bigger the property, the better!” the man declared.