There’s A Brewing Battle For Exclusivity In Hong Kong’s Luxury Home Market

The Peak remains one of the most popular destinations for a slice of exclusivity in Hong Kong, but there are other neighborhoods worth checking out.

Ultra-wealthy buyers have spared no expense in finding secluded yet prime real estate in the Hong Kong market. Despite uncertainty because of COVID-19, demand for exclusive properties remains noticeable.

Deep-pocketed individuals mostly seek homes in affluent neighborhoods to improve their image. More people, though, have realized the practicality of isolation during a pandemic. Other buyers specifically hunted for properties with spacious indoors and outdoors, which are ideal for working from home.

The Peak continues to be one of the most popular destinations for a slice of exclusivity in Hong Kong, but there are other neighborhoods worth checking out.

mo tat wan neighborhood sea view

Mo Tat Wan is one of three districts in the Mo Tat village, which is usually 10 minutes away from Aberdeen by car. (OKAY.com)

Mo Tat Wan, Lamma Island

Price: HKD 32 million (US $4.1 million)

Mo Tat Wan is one of three districts in the Mo Tat village, which is usually 10 minutes away from Aberdeen by car. The 2,100-square-foot property welcomes anyone to a panoramic seaside view, especially from the third floor. With four bedrooms and three baths, the place can be a perfect vacation home.

The pandemic further bolstered Lamma Island’s popularity among buyers because of its location. Outlying islands became more popular because of cheaper prices for luxury homes.

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This three-story residence in Mo Tat Wan, Lamma Island, is listed for HKD 32 million (about US $4.11 million). (OKAY.com)

In Mo Tat Wan, the price per square foot costs almost HK $16,670. Prices in more exclusive complexes such as The Peak can reach as high as HK $203,100 per square foot, according to OKAY.COM.

Lamma Island also attracts more buyers because it isn’t completely isolated from urbanization. Driving from Central Hong Kong, for instance, may only take at least 30 minutes by car.

Read More: Exploring Hong Kong’s Luxury Neighborhoods—From Clear Water Bay To The Peak

discovery bay residence living room with private pool

In Hong Kong’s Discovery Bay, this garden duplex with a private swimming pool is listed for HKD 34 million (about US $4.37 million). (OKAY.com)

18 Bayside Drive, Discovery Bay

Price: HKD 34 million (US $4.3 million)

Nothing speaks of exclusivity more than having access to a private pool and garden in a luxury home. The 18 Bayside Drive duplex at Discovery Bay features an open layout where bifold glass doors connect the dining area to an outdoor garden.

view from a balcony in hong kong at 18 Bayside Drive, Discovery Bay

Skyline and garden views are among perks of the Discovery Bay duplex. (OKAY.com).

The three-bedroom, two-bath property spans nearly 1,480 square feet of space. The duplex ensures privacy by having each bedroom on the upper level. You also won’t have to worry about coming into contact with a lot of people.

An estimated 20,270 people live in Discovery Bay as of 2016, according to government census records. For this reason, the resort-town development is a great option for seeking solitude.

view from a balcony in hong kong's happy valley

Hong Kong’s Happy Valley neighborhood is coveted for its proximity to the Causeway Bay shopping district and the infamous nightlife scene in Wan Chai. (OKAY.com)

1 Holly Road, Happy Valley

Price: HKD 33.7 million (US $4.3 million)

If you’d rather stay on Hong Kong Island, this high-rise property at the Wan Chai District offers serenity without compromising on convenience. The 1 Holly Road apartment comprises almost 1,100 square feet of space with one bedroom and one bath. The unit features a powder room and balcony, where you can enjoy stunning views of the Hong Kong skyline in peace.

Buyers have flocked to this neighborhood because of its proximity to the Causeway Bay shopping district and the infamous nightlife scene in Wan Chai. Happy Valley is also home to a world-famous racecourse, built in 1845 and one of the oldest tracks of its kind in the region.

contemporary living room in a hong kong apartment

The 1 Holly Road apartment comprises almost 1,100 square feet of space with one bedroom and one bath. (OKAY.com)

Property investors should also take note of a likely increase in residential rents at Happy Valley. In October 2021, Sunny Enterprises sold 341-343 Tai Hang Road to Peterson Group for HKD 1.24 billion (US $159 million), according to a press release.

The site spans approximately 11,000 square feet with an estimated 18,000 square feet of gross floor area. Peterson Group plans to convert the property into “low-density luxury flats for long-term investment.”

Read More: What’s Selling For $4.4 Million In Hawaii, Hong Kong And Southern California

living room inside 28&33 Kwu Tung Road, Sheung Shui

This three-bedroom residence in the Sheung Shui area features three bedrooms and a private swimming pool. Asking price: HKD 75 million (about US $9.63 million). (OKAY.com)

28&33 Kwu Tung Road, Sheung Shui

Price: HKD 75 million (US $9.6 million)

Here’s a three-story home where you can also relax in a private pool. Sheung Shui, which translates to “above-water,” is tucked away in the northern part of Hong Kong near the border of Shenzhen, China.

The area still kept some of its historical vibes from the 1930s when Sheung Shui was predominantly known as a marketplace. Private estates such as the Metropolis Plaza and Noble Hill now tower over 1950s-era apartments.

bedroom inside a hong kong house at 28&33 Kwu Tung Road, Sheung Shui

A total of three bedrooms and four bathrooms includes a top-floor primary suite with an open study and walk-in closet. (OKAY.com)

The 28&33 Kwu Tung Road property encompasses 2,770 square feet of space with three bedrooms and four bathrooms. It’s only a seven-minute drive from Metropolis Plaza where you can buy branded wine for stocking a floor-to-ceiling wine storage facility—perfect for shutting yourself in during quarantine.

Read More: What $10 Million Buys In Hawaii, Hong Kong And Santa Barbara

the view from the peak in hong kong

The Peak made headlines once again in November 2021 when two apartments at Mount Nicholson sold for a whopping HK 1.20 billion. (OKAY.com)

44 Mount Kellett Road, The Peak

Price: HKD 85 million (US $10.5 million)

The Peak made headlines once again in November 2021 when two apartments at Mount Nicholson sold for a whopping HKD 1.20 billion. The sale further bolstered the image of Hong Kong’s most exclusive neighborhood as the priciest town to buy luxury property.

You don’t have to spend billions to secure a private apartment at the Peak. For example, the Mountain Lodge at 44 Mount Kellett Road offers a serene escape from the concrete jungle. With 2,222 square feet of space, the property’s per-square-foot price costs around HKD 38,254.

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This four-bedroom residence in Hong Kong’s Peak neighborhood is priced at about HKD 38,254 per square foot. (OKAY.com)

Mountain Lodge has four bathrooms, three bedrooms, a maid’s room and a powder room. The apartment’s purchase price includes a covered parking space. If you prefer walking, a Central (Exchange Square) bus stop is just a 10-minute walk from Mount Kellett Road.

Read More: What $12 Million Buys In Australia, Hong Kong And Manhattan

Property listings were active as of publication date.

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Author

Randolf Santos has covered different segments of the real estate industry since 2014. He worked at S&P Global Market Intelligence before joining Forbes Global Properties as a contributor. You can reach him at randolf.santos@gmail.com.

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