Variety of property types in Sheung Wan

Sheung Wan

With sky-high office buildings, luxury hotels and swanky malls, Hong Kong lives up to its name as a modern and international metropolis. However, while big-name brands and global merchants give the city its enviable wealth, behind the glitz and glamour, Hong Kong’s unique local sights and sounds are disappearing. Back in the days, the neighbourhood had many shops with its owners residing behind the shopfront, it formed an integral part of the community and was loved by local residents. Sadly, most of them have now given way to urban renewal, gentrification and new developments.

It was not until the current decade that, due to Hong Kong people’s increased interest in reviving local culture, the retro vibes began to return to Sheung Wan, making it a point of convergence for old-timey nostalgia and hip, trendy shops. The great school net of the neighbourhood and the adjacent Central business district add to the advantageous position of Sheung Wan’s residential properties. Meanwhile, the variety of property types offer an array of options for single professionals, families with children and expats. It is no wonder that Sheung Wan has become a popular destination for renters and home buyers. “Recently, we are seeing rising transaction volumes in Sheung Wan’s housing market,” says Harry Tan, project manager at Engel & Völkers. “The monthly rent is HKD$49-53 per square foot for small units, approximately HKD$57 for larger units, and HKD$69 or above for luxury units. As for sales, small- to medium-sized units typically sell for HKD$17,000-18,000 per square foot, while luxury units start at HKD$35,000 per square foot.”

With the demand currently strong, various property types in Sheung Wan have become hot commodity. Harry adds that housing estates in the area, such as Winner Court, CentrePoint and Hollywood Terrace, have seen recent sales: a high-rise D unit in Winner Court, with a saleable area of 1,018 square feet, was sold at HKD$17 million; a low-rise D unit in CentrePoint measuring 339 saleable square feet was sold at HKD$7.65 million; while in Hollywood Terrace, a G unit on a higher floor with a saleable area of 616 square feet was sold at HKD$11.28 million.

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28 Aberdeen St.

This development is a 23-storey standalone building with 40 one-bedroom units and two special units. It was newly available to the market this March, offering 30 one-bedroom units, all with a saleable area of 407 square feet, selling for HKD$13-18.4 million - around 50% more expensive compared to second-hand units in the neighbourhood.

28 Aberdeen St


Located on 72 Staunton Street, CentrePoint is a six-year-old 27-storey building with one- to three-bedroom flats and a few special units, with units starting from 484 square feet. At present, the average per-square-foot price at CentrePoint is approximately HKD$23,500.


Hollywood Terrace

Built in 1999 on 268 Queen’s Road Central, Hollywood Terrace is the last estate developed under the Urban Improvement Scheme of the Hong Kong Housing Society. It comprises of two buildings, offering a total of 550 two-bedroom and three-bedroom units.

Hollywood Terrace

>> More new development projects in Sheung Wan

Things to know before moving into Sheung Wan:

Cultural taboo

Death is a big taboo in traditional Chinese culture. Tan from Engel & Völkers points out that next to Tung Wah Hospital, a section of Hollywood Road hosts several coffin shops, which is worth bearing in mind for those who believe in such taboo.

Dried seafood shops

Tan also mentions that dried seafood shops and rice shops in Sheung Wan open very early. If you live near these shops, it may be noisy in the morning, but can enjoy the quietness at night or during weekends. On the other hand, dried seafood has a distinctive smell which can be unpleasant for some.

Great school net

The district belongs to primary school net 11, which includes Sacred Heart Canossian School, King's College Old Boys' Association Primary School and Saint Stephen's Girls' Primary School. Its secondary school net belongs to the Central and Western District, which has St. Paul's Co-educational College, King's College, St. Stephen's Girls' College, and Ying Wa Girls' School. The neighbourhood is also close to the University of Hong Kong. 

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