Hong Kong has long been a global city synonymous with luxury living. From the Peak, with its magnificent views of Victoria Harbor and the city, to the coastline of Repulse Bay, Hong Kong offers abundant choices for luxury home buyers.
Joshua Miller, chief executive of Hong Kong premier’s luxury brokerage firm, OKAY.COM, grew up in Hong Kong. Miller’s insider knowledge of the luxury 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 generally regarded as Hong Kong’s most exclusive residential area, the top of the world literally (or at least the top of Hong Kong Island),” Miller explains. Prices are among the highest in Hong Kong and vary according to the size and type of property. For example, a recent sale in Mount Nicholson went for HK $720 million (almost US $92 million). Homes aren’t the only high-ticket real estate for sale on The Peak, however. Miller points to “a car park 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 magnificent views of Victoria Harbour or views of rolling fog, sometimes within the same hour. There are height restrictions on The Peak, so you will find townhouses, detached houses and low-rise apartments with luxurious facilities and private outdoor spaces.
The Peak’s central location near top international schools, first-rate hospitals, shopping and restaurants attracts locals and Mainland Chinese,” Miller says. “Foreigners are more attracted to buy just a little lower of the Peak, in the mid-levels.” There are abundant hiking trails that take in the Harbour and south-side views.
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 outstanding south side and Aberdeen Reservoir views
Expat families often look to Island South, where the Repulse Bay or Stanley areas are, to enjoy beaches and watersports. The Island’s southern coastline has a beach for everyone. Every June, the beachfront is transformed into one of the most popular places in Hong Kong where the Dragon Boat Festival race takes place.
There is a mixture 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,” Miller notes. The area is convenient to Hong Kong Country Club and the Hong Kong Golf Club.
Chung Hom Kok and Stanley are a five-minute drive apart and located on the south side of Hong Kong Island. While Chung Hom Kok is less crowded than Stanley, both areas are very low density and consist mainly of townhouses with sea views and private outdoor spaces. The architecture is a mixture of colonial and modern. Commuting time to Central varies between 30 and 45 minutes.
Chung Hom Kok’s properties usually come with higher price tags than those in Stanley, with increased privacy accounting for the premium. Currently on the market for HK $98million (US $12,629,502) is a four-bedroom apartment with an expansive garden terrace in Shouson Hill.
Sai Kung/Clear Water Bay
“Though further away and requiring a 40-minute commute to central business districts, the main attraction of Sai Kung stems from the lush green environment, spacious living and the relatively low housing costs,” Miller says. Homes are low-rise villa complexes with shared swimming pools, making this a popular area for families.
“Sai Kung District is comprised 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 community feel,” Miller says. Sai Kung also offers village houses, which are standalone homes that often come with private gardens. Prices are lower in comparison to the Peak but offer more space, hence more value for the price.
The area is best known for its tranquil environment, proximity to beautiful countryside hiking trails and ocean activities such as boating. It also boasts an increasing mix of restaurants and pubs set on the waterfront and within the village. These attributes make Sai Kung a popular choice for expats.
In Clear Water 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.