High Life: The Peak & Mid-levels

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 laidback 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 Midlevels 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.