Priciest homes in Asia: sales in Peak and Mid-Levels reach heights of HK$15 billion

Whether Hong Kong-based or from further afield, investors interested in new residential developments on The Peak or in Mid-Levels know what to expect.

Clearly, there is the prestige and status that come with owning a home in one of Asia’s most upmarket districts. There is a full range of first-rate amenities to minimise many of the stresses and strains of everyday life. The area’s subtropical green surroundings and country park walks enable Peak and Mid-Levels residents to stay in touch with nature - close to yet apart from the city’s pulse.

The leading developers are not simply looking to rely on reputation or the area’s traditional allure to attract potential buyers. Instead, their aim is keep innovating to exceed expectations – even at the top end of the market – in design, craftsmanship, interior decoration, and the practical integration of the latest technology.

“Over the years, we have invited a number of the world’s top architects and designers to tailor the look and layout of each project in our Peak portfolio,” says Ricky Wong, managing director of Wheelock Properties. “That gives each a unique character, which is then enhanced by the use of top-grade materials and appliances sourced from all over the world. Even though there is a general lack of supply of high-quality, international-grade projects, the key is to offer something exclusive.”

This, he suggests, was a significant factor in the “overwhelming” response last year to phases one and two of the firm’s eye-catching Mount Nicholson development.

“We achieved a satisfactory sales result with record-breaking transaction prices,” says Wong, of the project where 10 detached houses and 22 apartments have been sold, with total proceeds of more than HK$14.3 billion. “It showed there is strong market demand for mega size ultraluxury properties, and we believe this sector will remain resilient.”