The Peak is the most exclusive neighbourhood in the world and it is located in Hong Kong. The wealtiest people on the planet have property there. Very often, when we think about the most luxurious residential areas in the world, the ones that come to mind are in London, New York, Tokyo or Paris. Hardly anybody thinks about China and specifically Hong Kong.
And here is where The Peak is located, being the most exclusive place in the world. Suffice it to say that the average price of property there is between 80 and 110 million euros. Furthermore, if we pay attention to a specific property, then our unbelief grows. Recently, an 850 square metre mansion was bought for 180 million dollars (146 million euros), and the name of the buyer was not made public.
Frank Gehry, the prestigious architect, designed the Opus Hong Kong Building which is a modern tower that seems to be winding round and round. The apartments there are sold at more than 50 million euros, and the last one fetched the price of 57 million euros.
In the area of The Peak, there is a housing development called Monte Nicholson where very wealthy people invest. More than 1.000 million euros have been paid for 16 properties in this housing development. These dizzying figures can only be understood if we take into account the price per square metre which is always above 100.000 euros and sometimes even reaching 170.000 euros. Regarding rent, the monthly figure for a house is between 80.000 to 100.000 euros. A flat there can be rented for 20.000 to 24.000 euros per month. But why is The Peak so terribly expensive? Who lives there? Let´s analyse it in detail.
A RESIDENTIAL AREA ON A MOUNTAIN
The Peak is located on the hillside of Victoria Peak in Hong Kong. For more than a century it has been the most exclusive residential area in China, being its peace and quiet very much appreciated.
This is only natural because we must be aware of the fact that Hong Kong is one of the noisiest cities in the world. Therefore, the people of The Peak appreciate being able to live quietly with discretion. In spite of its glamour, you do not usually meet celebrities there, even though it is the most expensive residential area in the world. Instead, it is a sort of haven for millionaires who do not wish to be in the spotlight.
Another advantage it has, is its proximity to the centre of the city as it only takes 20 minutes by car to get there. And, we must point out that Hong Kong has more than 7 million inhabitants. The Peak boasts a superb view of the skyscrapers that seem to surface from nature as if by magic.
This residential area has supermarkets, luxury shops , services and even a viewpoint on the mountain top. Important Arab and Asian tycoons have chosen to live in this exclusive area because they are attracted to the luxury and glamour that the most expensive place in the world offers.
DID YOU KNOW THAT…?
In order to reach the mountain top of The Peak so as to enjoy the incredible view, you can use an old 1888 cable car which is still in working order.
Picture 01: Simeon W
Picture 03: Forgemind Archimedia
Picture 04: Rob Young
Picture 05: Romain Pontida
Picture 07: Lance Catedral
Picture 08: Hiroki Ogawa