Hong Kong has long been a cosmopolitan city that has stood for luxury living. From the Peak, with its magnificent views of Victoria Harbor and the city, to the coast of Repulse Bay, Hong Kong offers plenty of choice for luxury property buyers.
Joshua Miller, chief executive of Hong Kong Premier’s luxury brokerage firm OKAY.COM, grew up in Hong Kong. Miller’s inside knowledge of the luxury neighborhoods is key to his success in negotiating and navigating today’s market. Here’s a look at three top Hong Kong areas.
“The Peak is widely considered to be the most exclusive residential area in Hong Kong, 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 cost HK $ 720 million (nearly US $ 92 million). Homes aren’t the only high-priced properties for sale on The Peak, however. Miller points out “a parking lot on Mount Nicholson … sold for an astronomical price of HK $ 10.2 million ($ 1.3 million).”
Buyers can choose between detached single family homes and spacious low rise apartments with great views of Victoria Harbor or rolling mist views, sometimes within the same hour. There are height restrictions on The Peak, so you’ll find townhouses, single-family homes, and low-rise apartments with luxurious furnishings and private outdoor spaces.
The Peak’s central location near the best international schools, world-class hospitals, shopping, and restaurants attracts locals and mainland Chinese, ”says Miller. “Foreigners are more likely to buy something lower from the peak, in the middle area.” There are numerous hiking trails that enjoy the view of the harbor and the south side.
There is currently a 2,145-square-foot Carolina Gardens home for sale on Peak with an asking price of HK $ 92.8 million ($ 11,959,365). It has excellent views of the south side and the Aberdeen Reservoir
Expat families often head to Island South, which is where the Repulse Bay or Stanley areas are, for beaches and water sports. The south coast of the island has a beach for everyone. Every June, the beach is transformed into one of the most popular places in Hong Kong to host the Dragon Boat Festival.
There is a mixture of modern apartment complexes, single-family 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 convenient to the Hong Kong Country Club and Hong Kong Golf Club.
Chung Hom Kok and Stanley are a five minute drive from each other and are on the south side of Hong Kong Island. While Chung Hom Kok is less crowded than Stanley, both areas are very sparsely populated and consist mostly of townhouses with ocean views and private outdoor spaces. The architecture is a mix of colonial and modern. The commute time to Central varies between 30 and 45 minutes.
Chung Hom Kok properties tend to come with higher pricing than Stanley, with the premium being more privacy. Currently on the market for HK $ 98 million (US $ 12,629,502) is a three bedroom apartment with an expansive garden terrace in Shouson Hill.
Sai Kung / bay with clear water
“Although it is further away and requires a 40-minute drive to the central business district, the main attraction of Sai Kung is its lush green surroundings, spacious living and relatively low housing costs,” says Miller. The houses are flat complexes of villas with communal pools, making this a popular area for families.
“The Sai Kung district consists of the Clear Water Bay and Sai Kung peninsulas and the east coast of Kowloon. Historically 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 stand-alone houses, often with private gardens. The prices are lower compared to the Peak, but offer more space and thus a better price-performance ratio.
The area is best known for its peaceful surroundings, proximity to beautiful hiking trails, and marine activities such as boating. It also features an increasing mix of waterfront and village restaurants and pubs. These characteristics make Sai Kung a popular choice for expats.
In Clearwater Bay, a three-bedroom, three-bathroom, 2,127-square-foot home with a rooftop lounge and private gym is on the market for HK $ 75 million ($ 9,665,435).
Living luxury in Hong Kong is really a special experience, as many expats have found.