Ready To Splurge? Here Are The Places In Hong Kong You Don't Want To Miss

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Real estate prices in Hong Kong are no joke and definitely not for the faint of heart to stomach.

Did you know that Hong Kong is one of the most overpriced real estate markets in the world, overtaking New York, London, and other metropolitans? As of 2017, Hong Kong has once again been ranked as one of the world’s most expensive cities to live in, mostly due to skyrocketing rent prices. Hong Kong is the most expensive city in Asia for expats to rent a high-end luxury apartment. According to an article by South China Morning Post that came out in January this year, rents for unfurnished 3-bedroom apartment in most popular expat areas near international schools in Hong Kong average a whopping HK$79,474 per month! The article also notes that Hong Kong has held the rank as the most expensive location in Asia for expatriates to lease a high-end apartments for the fifth year running, despite the city’s rents have fallen by 13 per cent since 2012. 

Now , those are some numbers that will make anyone’s head spin.  If you are one of the lucky ones who are able to splurge on luxurious living, these are some of the best neighbourhoods and districts in Hong Kong you don’t want to miss. You can live the life of ultimate opulence and comfort in one of the best homes in the city if you have the cash to shell out. Hong Kong property is outrageously expensive, but if you can afford it - why not spend it on a place that is worth it and that you can proudly call home? If price is not an issue, you can live virtually anywhere in the city, but here are some of our top picks for you if you want to live like a royalty!

The Peak

Top of the list is of course Hong Kong famed neighbourhood "The Peak". As Hong Kong’s most exclusive neighbourhood since colonial times, and with one of the world’s most spectacular cityscapes as its backdrop, The Peak is famed for being home to some of the most expensive homes in Hong Kong and in the world. This area attracts the rich and famous in ways that no other neighbourhood in Hong Kong can compare to. If you find yourself living here, you will be rubbing shoulders with some of the richest and most famous people in the world. 

What residents have to say about living in this neighbourhood:

"There are dozens of scenic hiking trails that give you access to different parts of the island and city."

" Driving or hiking to and from The Peak makes you feel like you’re really not in the city. It feels like like you are enjoying the countryside."

" It’s not as far out of the way as everyone thinks it is. With traffic, it’s only 15-20 minutes from Central by car. It’s very community like in that the neighbours all know each other since it’s quite secluded."

" Humidity is a problem. There are certain months of the year where it gets especially humid. Even if you do a fresh paint job, it wears away within a couple of months"

Mid-Levels

What makes The Mid-levels such a hot commodity is its conveniently central location on Hong Kong Island and for its breathtaking panoramic views of Hong Kong’s famous Victoria Harbour Skyline. It’s close proximity to the financial and commercial districts of Central and Admiralty make it the perfect residential neighbourhood for business professionals, families and expats. The added value of The Mid-Levels area is that it is close enough to the bustling city action for convenient access but just far enough out of reach where residents can still feel the tranquility of a proper residential neighbourhood, without being affected by the loud noises and bright lights of  action packed Hong Kong. Not to mention, The Mid-Levles is closer to nature where many parks and hike trails are - a great added bonus especially for those are who seeking the perfect balance between urban city-living and the serenity of natural surroundings and greenery. This area’s ultra-luxurious homes attract many wealthy people who are willing to pay top market prices for a home that has so many favourable qualities. There are not many neighbourhoods in Hong Kong where one can breathe in the beauty of nature right outside their doorsteps yet still be walking distance to the center of the city. 

The MId-Levels neighbourhood is favoured by many expats and the international crowd. Being one of the city’s most prestigious locations and a long-time favourite amongst city-dwellers, the hunt for the perfect home is quite competitive. There are not many areas in Hong Kong where you can live in quiet and peace yet be literally minutes away from downtown Central, with large accommodations that are close to most of Hong Kong’s top attractions, neighbourhood parks, and public transport lines. Mid-Levels is a top choice neighbourhood for almost all demographics. There’s a great multicultural feel with the diversity of residents who live in this neighbourhood, all from different racial and cultural backgrounds. If you are a single expat, young business professional or even a full-fledged family with young children, this is truly a great area to live in Hong Kong. 

Hong Kong’s famed Mid-Levels will always remain a top choice for expats. 

What residents have to say about living in this neighbourhood:

" The Midlevels area is seen as the place to live in Hong Kong for the wealthy. If you are new to Hong Kong, then Central/Midlevels makes sense as there are so many young professionals and expats here. It’s close to The Peak Hike, which is a hugely popular attraction for visitors and locals living here. Midlevels traffic can get pretty bad during rush hour, and it’s not the most convenient location out of all the other neighbourhoods that you can choose from. I moved from Midlevels to Happy Valley about 3 years ago and I really enjoy where I am now."

" The hills and slopes here are very steep, which has its pros and cons. Getting up here can be a mission but you also get quite a dramatic view over the Hong Kong skyline. The further up you go, the less densely populated it feels - so less claustrophobic."

" If you are single and young, this is a great place to live. Good access to bars and restaurants, and you can walk to work (if you work close by) during the cooler months of the year. It’s a very convenient location since you are practically in Central. Soho and Lang Kwai Fong are literally are literally at your fingertips, along with gym facilities like Pure. It’s a more expat community and less local."

"Plentiful greenery and hiking trails if you know where to look. The Botanical Gardens is in the area and more wellness friendly than other parts of Hong Kong."

Stanley

Stanley is very famous beachside town that is situated on a peninsula on the south side of Hong Kong Island. This beautiful area is nestled between Repulse Bay and Red Hill, Tam Tam. Technically, east of Repulse Bay, West of Shek O, and adjacent to Chung Hom Kok. Stanley is considered to be a part of the Southern District.

This attractive seaside town is a big favourite amongst the affluent crowd, catering to mostly expats and wealthy locals. Stanley checks off on all the attributes that International residents love - Mediterranean beach town vibes, charming waterfront promenade with bars and restaurants of every taste, lovely beaches, and local attractions that make it especially attractive to families with children. 

What residents have to say about living in this neighbourhood:

"Beachside living at its best. We don’t even feel like we are in Hong Kong. We have more space here, cleaner air, and getting to city centre is quite convenient. The entire area running from Deep Water Bay, Repulse Bay, South Bay, to Stanley is like a little community in itself. We can pretty much get most of the things we need here. It’s not as isolated as people say."

"It feels like resort-living. I commute to Central for work and it’s always a pleasant feeling to come home. It’s tranquil and gives me a peace of mind that is much needed in a busy city like HK."

"Lovely area and transportation is convenient. It helps to have a car though."

Kowloon Tong

This area of Hong Kong located in Kowloon West is home to one of the most expensive homes in Hong Kong. A low density and quiet residential neighbourhood, its housing comprises mainly of low-rises,  townhouses and villas. Kowloon Tong is a popular area among the upper class in the city due to the number of prestigious schools and expensive homes dotted all around the district. 

What residents have to say about living in this neighbourhood:

"The residential part of Kowloon Tong is fairly upmarket and not too budget-friendly, but if you are able to afford the options here, the housing is lovely. The commute can be quite horrendous depending on what time it is but there are always public transportation options. It’s so easy to get to Hong Kong Island via MTR or ferry. It’s close to some massive malls such as Festival Walk which has a fair number of movie theaters, supermarkets and shopping."

"It is mostly a quiet area with no loud noises. The main advantage is that it is mostly comprised of low-rise apartment complexes and houses. Pollution here is slightly better than most other areas. It’s great for families who are seeking a quieter lifestyle."

"There are a number of reputable schools in the area and is a great place for families with children. It’s quite an affluent area, and quite safe."

"Kowloon Tong is a very nice neighbourhood with good public transportation as well as shopping. Be prepared for the high rent and housing prices in this area as its tailored for the rich and famous. It’s also a very expat-friendly place with the number of reputable international schools around. It’s one of the lowest density places to live in Hong Kong."

"Kowloon Tong is a nice area to live especially if you work nearby. There’s more space, and residential buildings are most low-rise with tons of International/ESF schools around the area. There aren’t as many expats as there are on Hong Kong side but its still a rather expat-filled area depending on where in Kowloon Tong you are. Transportation is great with MTR, KCR, bus and minibus lines."

Repulse Bay

New residents to Hong Kong don’t correlate the city to beaches and waterfront views, but Repulse Bay offers just that. The south side of Hong Kong Island, specifically this area called Repulse Bay is one of the city’s most desirable and sought after places to live in. The area offers a more relaxed, beach-front lifestyle along with some phenomenal luxury accommodations. Repulse Bay is (as the name suggests) a bay located in the southern part of Hong Kong Island, the Souther District of Hong Kong. It is sandwiched between Deep Water Bay, Middle Bay, South Bay, and Stanley just a little further down. Located close the the city, but far enough to be away from the maddening crowds of Hong Kong, here we have the "French Riviera of Hong Kong". Truly an escape from the city, this upscale neighbourhood is characterized by its lush mountain views on one side and glistening ocean waves from the other. This area spans from Wong Nai Chung Gap Road all the way towards Chung Hom Kok beach, forming a lovely crescent shaped Repulse Bay that is dotted with plentiful luxury homes. 

The Repulse Bay area has become known as one of the most expensive and luxurious housing neighbourhoods in Hong Kong due to its combination of desirable features. Its location is still close to the city but with a more relaxed, beach-front resort lifestyle. The area has stunning wide expanse views of the south side oceanfront which is strung along a series of beautiful beaches, with spectacular mountain views in the back. There are not many neighbourhoods on Hong Kong Island that offers such spectacular views and living environment. Hong Kong is usually equated with hustling bustling city life, towering skyscrapers, concrete jungle, and a dense population. However, Repulse Bay offers something unique that is not normally expected of Hong Kong. The Repulse Bay area stretches towards the areas known as Middle Bay and South Bay, which are tucked neatly right next to one another - and is a highly exclusive and exquisite area. 

What residents have to say about living in this neighbourhood:

"We love living in Repulse Bay. You can walk everywhere in the area. Great hiking trails, plentiful outdoor space, a number of beaches to choose from, and more dog-friendly than most other places in Hong Kong. There’s a huge community feel here because it’s removed from city centre (15-20 minutes to Central by Taxi) , so it’s easy to meet your neighbours especially if you have kids that are enrolled in the same school(s). Hong Kong International School is nearby - it’s a beautiful area for kids to grow up in. It is definitely a pricey area though."

"If you love being outdoors, this is a perfect location. There is so much to do, and it’s a very self-contained neighbourhood. Transportation is not bad but it helps to have your own car. Some people love it here and others hate it. It may feel isolated, because apart from a handful of shops, restaurants and a spa, there is not much here. But there is easy and frequent transport to Central and other parts of the city. Repulse Bay Beach can get insanely crowded (and dirty) on the weekends. It’s has become a tourist attraction and tour buses pass by in flocks. It’s not as serene as it used to be, but it also depends on the day of the week."

Tai Tam

Tai Tam is an area in the Southern District on Hong Kong Island surrounded by beautiful views of fresh water reservoirs, beaches, high cliffs and country parks. This area’s beauty is unparalleled to the major bustling hubs of Hong Kong. With a number of luxurious high-rise apartments and townhouse estates in the area, this area is a popular location amongst expats and the affluent crowd in Hong Kong. 

Redhill Peninsula in Tai Tam is home to one of the most expensive houses in Hong Kong, and had a asking price of HKD $880million back in 2014. For this hefty price, you can live in this 3013 sq ft townhouse in Tai Tam that comes complete in full blown luxury with its four bedrooms, three bathrooms, a powder room, a maid’s room, a garden, a fitted kitchen, a terrace and its own car park. 

Tai Tam Red HIll area is also home to one of the most prestigious and affluent international schools in Hong Kong, known as Hong Kong International School - an American style curriculum private school where its high school campus is situated. 

What residents have to say about living in this neighbourhood:

"We enjoy living here because it’s more quiet and relaxing than many other parts of the city. Commuting is not that big of an issue. We have our own shuttle buses and it’s only about a 30-40 minute ride to Central."

"We love it here. We have a 7 month old son and my husband commutes to Central for work. It’s only about a 10 minute cab ride to Repulse Bay and even closer to Stanley Market where I can up all my groceries and essentials. The air quality is better here and the views are unbeatable overlooking the water. We are right next to one of the most prominent schools - Hong Kong International School (HKIS)."

Splurging on real estate in Hong Kong is exciting and full of limitless options. If you know where to look, you can live like a billionaire in some of the poshest neighbourhoods that our city has to offer and we are here to help you on that search!

If we have piqued your interest, do contact our team at Engel & Volkers for more detailed information and viewings of these luxury homes for sale. Engel & Voelkers are the leading experts in featuring real estate properties in the best areas of Hong Kong. We assure you that you will find your ideal dream home with our help.

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