Despite the money that needs to be injected into the project, it represents immense value. For the same price you can get hold of about 600 square feet in Mid-Levels. Which begs the question – why on earth do we live here? Apparently it requires another €2 million to get it up to your mother-in-law’s uncompromising standards but once she’s gone you can turn it into a boutique hotel. Or a shrine.

In fact over in Santo Stefano di Sessanio, a similar project involving a cute hotel in a venerable Italian village has been a great success. You can stroll down cobbled streets, pick from a few sublime little restaurants, and generally play mayor. Forget a one up/one down in Stanley – head to Valle Piola and buy the whole village.

It’s money well spent.