5 of the most exclusive addresses in Hong Kong
In the first part of this series – which will look at the most prestigious addresses in other major Asian cities – we zoom in on luxury residential properties in the Pearl of the Orient
Hong Kong has some of the most expensive and exclusive real estate in the world. The prices and quality of real estate here match some of the most prestigious real estate in New York, Paris and London.
Peak Road, The Peak, Hong Kong
Average price: over HK$120,000 per square foot
Peak Road, at the very top of Victoria Peak, is the world’s most expensive and exclusive address. The lush green road claims top spot after two apartments on 75 Peak Road sold for an eye-popping HK$1.2 billion early last year – the largest deal in the history of Hong Kong’s residential market. The two properties (combined) have 11,000 square metres of living space – a big deal in a city known for its shoebox-like flats. Pollock’s Path on The Peak previously held the title of the world’s most expensive street, but there have been no recent sales there.
Koh Keng-shing, founder and CEO of Landscope Christie’s, a real estate consultancy specialising in luxury properties, points out that properties on The Peak rarely come onto the market, which is one of the reasons for such premium pricing. He adds that Mount Nicholson on The Peak is an exclusive residential development setting record prices, and is in hot demand among super rich property investors.
Stubbs Road, Happy Valley/Mid Levels
Average price: HK$75,000 to HK$100,000 per square foot
Stubbs Road, above Happy Valley, has some of the most exclusive developments on Hong Kong Island.