Hong Kong’s world-famous skyline may be best viewed across Victoria Harbour from the Kowloon side, but if you want to get up close with these stunning skyscrapers and experience their majestic structures, The Peak is the place to go. Those living on and around The Peak enjoy the ‘high life’, literally and figuratively.
Thanks to its elevated location, The area including The Peak and Mid-Levels possesses a rare serenity undisturbed by the hustle and bustle of the nearby Central business district. Surrounded by trees and greenery, it boasts a wonderful living environment as well as spectacular views of Victoria Harbour, which explains its equally extraordinary home prices. Supply of new units is extremely limited in the area, and being a traditionally affluent neighbourhood, housing prices have always remained robust. As Lily Wong, residential division director at OKAY.com, observes, “market sentiment rarely affects The Peak area with prices and rentals remaining undisturbed. Still, HNWIs and fans of the area rally around the area for availabilities.”
While many of the area’s properties are owned by the rich and powerful, renters in this area tend to be senior executives of large corporations and expat professionals. The latter often opt for shorter leases, which helps enhance circulation in the rental market and brings a steady stream of business. Living on The Peak and in the Mid-Levels area means a premium location and high levels of privacy. Only 10 minutes away from Central, it’s close to amenities and public transport, and offers lots of good places to walk your furry friends,Wong adds.
Mid-Levels is also known for its laid-back atmosphere, with an abundance of interesting boutiques, craft shops, vintage clothing stores, as well as hipster cafés and trendy eateries. In addition, the area, which belongs to the Central and Western District school net, has no shortage of reputable schools and sits close to the University of Hong Kong. There are many bus and minibus routes going from Mid-Levels to Central and other parts of Hong Kong Island, with The Peak Tram also nearby.
Centaline’s data shows that the current average per-square-foot price of a Mid-Levels home is HK$33,044, while most recently transacted properties had an asking price of HK$20 to 25 million. It’s worth noting that expat renters tend to prefer to live on or below Caine Road for greater connectivity, well-developed facilities and smaller units.
The 53-year-old Eredine is a Swire Properties development located on 38 Mount Kellett Road. Each of its units has a saleable area of over 2,700 square feet, and according to Centaline’s data, all five sales that took place this year were over HK$100 million each. Wong says that this exclusive complex sits virtually alone on the hilltop, overlooking beautiful views stretching as far as Southside, with higher level units enjoying harbour views as well.
Located on 41 Conduit Road, Realty Gardens is a 46-year-old luxury estate with five towers offering around 400 units, most of which are three-bedroom flats. The estate has parking spaces and shuttle buses going to Central and Admiralty.
This standalone building located on 71-73 Robinson Road is 41 years old and has 60 units with areas ranging from 680 to 750 square feet. It’s a 15-minute walk from the Sai Ying Pun MTR station.
Cloud Nine is located on 9 Plunkett’s Road and has 15 units, each with saleable areas of over 2,200 square feet. Wong explains that due to Cloud Nine’s unique features being rare to the neighbourhood, its units are seldom available for rent.
Things to know before moving onto The Peak & Mid-Levels
- Frequent burglaries
Nestled in the mountains, the luxury homes uphill are prime targets for burglars awaiting opportunities to break in. Be extra careful if your home is near hills or slopes.
- Narrow roads and heavy traffic
There are many streets in Mid-Levels and most of them only have two lanes. In times of road maintenance or accidents, vehicles from both directions will have to share one lane, which inevitably results in traffic congestion.
- Slope maintenance costs
Mid-Levels has a large number of slopes. Before purchasing a home, make sure to check if there are dangerous slopes in the surrounding area and if the Formation of Owners’ Corporation is responsible for their routine maintenance and inspections. If so, home owners may have to share the maintenance costs.
- School net
Mid-Levels’ primary school net is No. 11, which includes Sacred Heart Canossian School, King’s College Old Boys’ Association Primary School, and St. Stephen’s Girls’ Primary School. Its secondary school net belongs to the Central and Western District, which includes St. Paul’s Co-educational College, King’s College, St. Joseph’s College, St. Stephen’s Girls’ College, and Ying Wa Girls’ School. International schools in the area are Carmel School, Glenealy School, Island School, and the Woodland Montessori Pre-School, among others.