Hong Kong has long been a metropolis synonymous with luxury living. From the Peak, with its stunning views of Victoria Harbor and the city, to the shoreline of Repulse Bay, Hong Kong offers a plethora of choices for luxury home buyers.
Joshua Miller, chief executive of Hong Kong’s luxury brokerage firm, OKAY.COM, grew up in Hong Kong. Miller’s insider knowledge of the upscale neighborhoods is key to his success negotiating and navigating today’s market. Here’s a look at three top-shelf Hong Kong areas.
“The Peak is widely regarded as Hong Kong’s most exclusive residential area, literally the top of the world (or at least the top of Hong Kong Island),” explains Miller. Prices are among the highest in Hong Kong and vary depending on the size and type of property. For example, a recent sale in Mount Nicholson went for HK$720 million (nearly US$92 million). Homes aren’t the only high-ticket property for sale on The Peak, though. Miller points to “a parking lot at Mount Nicholson … sold for an astronomical price of HK$10.2 million (US$1.3 million).”
Buyers can choose from detached individual homes and spacious low-rise apartments with sweeping views of Victoria Harbor or views of rolling fog, sometimes within the same hour. There are height restrictions on The Peak, so you’ll find townhouses, detached homes and low-rise apartments with luxury amenities and secluded outdoor spaces.
The Peak’s central location near top international schools, first-class hospitals, shops and restaurants attracts locals and mainland Chinese,” said Miller. “Foreigners are more attracted to buy just a little lower off the Peak, in the mid-level.” There are plentiful walking trails that offer views of the harbor and the south side.
Currently for sale on the Peak is a 2,145 square foot home in Carolina Gardens with an asking price of HK$92.8 million (US$11,959,365). It has great views of the south side and the Aberdeen Reservoir
Expat families often look to Island South, where the Repulse Bay or Stanley areas are, to enjoy beaches and water sports. The island’s southern coastline has a beach for everyone. Every June, the beach is transformed into one of the most popular spots in Hong Kong where the Dragon Boat Festival race takes place.
There is a mix of modern apartment complexes, detached and semi-detached houses. “Both locations are ideal for large families. There are several prestigious international schools, including Hong Kong International School, Bradbury Junior School and South Island School,” notes Miller. The area is conveniently located to Hong Kong Country Club and Hong Kong Golf Club.
Chung Hom Kok and Stanley are a five-minute drive from each other and on the south side of Hong Kong Island. Although Chung Hom Kok is less crowded than Stanley, both areas are very low-density and mainly consist of townhouses with sea views and private outdoor spaces. The architecture is a mix of colonial and modern. The travel time to Central varies between 30 and 45 minutes.
Chung Hom Kok properties tend to have higher price tags than those in Stanley, with increased privacy explaining the premium. Currently on the market for HK$98 million (US$12,629,502) is a three-bedroom apartment with a large garden terrace in Shouson Hill.
Sai Kung/Clear Water Bay
“While further afield and requiring a 40-minute commute to the central business districts, Sai Kung’s main attraction stems from its lush green surroundings, spacious living areas, and relatively low housing costs,” says Miller. Homes are low-rise villa complexes with shared pools, making this a popular area for families.
“Sai Kung District consists of the Clear Water Bay and Sai Kung Peninsulas and the east coast of Kowloon. Traditionally a fishing village, Sai Kung Town has developed into a delightful mix of old and new and has a very strong sense of community,” says Miller. Sai Kung also offers village houses, which are self-contained houses that often come with private gardens. Prices are lower compared to the Peak but offer more space so more value for the price.
The area is best known for its tranquil setting, proximity to beautiful rural hiking trails, and ocean activities such as boating. It also boasts an increasing mix of restaurants and pubs on the waterfront and in the village. These features make Sai Kung a popular choice for expats.
In Clearwater Bay, a 2,127-square-foot, three-bedroom, three-bathroom home with a rooftop lounge and private gym is on the market for HK$75 million (US$9,665,435).
Luxury living in Hong Kong is truly a special experience as many expats have found.