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Properties / Homes

Hong Kong Property Market Still Shines With Resilience

Top-notch facilities and amenities found in two of Hong Kong’s most prestigious luxury residences.

Sep 22, 2023 | By Joe Lim

The city of Hong Kong is home to some of the most expensive real estate in the world, and the city’s real estate market has long been noted for its excessive prices. The market has, however, faced a few difficulties recently, including the global pandemic and governmental cooling measures. Despite these difficulties, high-end houses in Hong Kong continue to draw buyers, supporting the market’s resilience.

Hong Kong

The vibrant city of Hong Kong where property prices stay resilient. Image: China Guide Travel.

The rising desire for larger residences is one of the most prominent trends in Hong Kong’s luxury real estate market. Demand for homes with extra space, including home offices, gyms, and outdoor spaces, has increased because of the pandemic. According to data from Savills Hong Kong, the average size of luxury properties sold in the first quarter of 2023 was 2,200 square feet, up from 2,100 square feet at the same time last year. This tendency is reflected in the trend. As buyers place greater importance on space and amenities when looking for a home, this tendency is predicted to persist.


In the fourth quarter of 2022, prices in Hong Kong’s luxury real estate market rose 1.4 percent over the same period the year prior, according to Knight Frank Hong Kong’s Prime Global Cities Index. The survey also points out that, behind Monaco and London, Hong Kong is currently the third-most expensive city in the world for luxury real estate.


Savills Hong Kong’s research also supports the notion that the luxury property market in Hong Kong remains strong, with demand for high-end properties continuing to outpace supply. In their latest report, Savills notes that luxury homes in Hong Kong’s most prestigious neighbourhoods, such as The Peak and Repulse Bay, continue to command top prices. In fact, according to their data, the most expensive home sold in Hong Kong in 2022 was a 9,212-square-foot property in The Peak, which sold for HKD 880 million (approx. USD 112 million).


According to Jones Lang LaSalle Hong Kong, there is still a high demand for luxury residences, notably from affluent people in Mainland China who want to diversify their assets. The survey states that while certain properties attract substantially greater costs, the average price per square foot for luxury houses in Hong Kong is roughly HKD 50,000 (approx. USD 6,400).


High-end houses continue to draw purchasers from both domestic and foreign markets, despite the continuous difficulties the Hong Kong real estate market faces. Hong Kong’s luxury real estate market has a wide range of possibilities for discerning purchasers, whether they are searching for a sumptuous waterfront home or an elegant apartment in the centre of the city.


The Apex of Luxury Living

Villa Lucca, Hong Kong

Villa Lucca in Hong Kong sits on the famed peak of the country. Image: Villa Lucca.

Villa Lucca is a stunning luxury residence that emanates sophistication, elegance, and exclusivity. The property sits in the famed Peak district of Hong Kong. This magnificent property, which has 14,000 square feet of living area, provides unmatched panoramic views of the city skyline, Victoria Harbour, and the verdant surroundings.


You are welcomed by an impressive grand entrance hall at Villa Lucca, which leads to a roomy living room, dining room, and family room. The villa has six elegant bedrooms, each with an en suite bathroom and is intended to provide the utmost in luxury and comfort. With a private terrace, a walk-in closet, and an opulent bathroom with a freestanding tub, the master suite is a haven all to itself.


The stunning outdoor space at Villa Lucca is one of its most remarkable features. The villa’s sizable patio makes it the ideal location for hosting small groups, sizable events, or just lounging in style. An oasis of luxury and peace may be found in the heated infinity pool, outdoor Jacuzzi, and beautifully planted garden.


Not only is Villa Lucca a beautiful home, but it also offers an incredible selection of amenities. There is something for everyone at the villa thanks to its cutting-edge home theatre system, gym, and games area. The home also has a high-end kitchen, which is ideal for holding special events or for the chef in residence to make delectable culinary wonders.


The property is one of Hong Kong’s most sought-after properties because of its enviable location in the Peak area. Villa Lucca provides an opulent lifestyle with simple access to the city’s top places for dining, shopping, and entertainment.

 The house also has several opulent amenities, like a wine cellar, a gym, and a private theatre. There is even a karaoke area and a bar for individuals who appreciate hosting memorable gatherings with friends and family.


This luxury residential project is the ideal hideaway for individuals who want to experience the best of both worlds because, despite its remote setting, central Hong Kong is only a short drive away.


Villa Lucca is a genuinely unique property with unmatched elegance and exclusivity in one of the most exciting and dynamic cities in the world, and it is priced at HKD 680 million. Villa Lucca is the only choice if you’re looking for a home that delivers the height of luxury living.


As a marvel of architecture and design, Villa Lucca provides a living experience that is unmatched in the heart of Hong Kong. It is one of the most sought-after residences in the city and a true treasure in the world of luxury real estate because of its distinctive combination of sophistication, exclusivity, and luxury.


Townhouse-style Luxury Living

Mount Nicholson, Hong Kong

Townhouse design of Mount Nicholson in Hong Kong. Image: Mount Nicholson.

Few properties in Hong Kong can compare to the opulent and exclusive Mount Nicholson development despite its reputation for having sky-high real estate costs. This residential development, which is situated on the renowned Peak, raises the bar for opulent living in Hong Kong.


Mount Nicholson, which was built by Wheelock Properties and Nan Fung Group, offers unrivalled views of Victoria Harbour and the skyline of the city. The development comprises 48 apartments and 19 luxury homes, all of which were created with the finest care and attention to detail.


The homes’ sizes range from 6,200 to 10,000 square feet, include four to seven bedrooms, and each has an outside area and private infinity pool. The three- to four-bedroom residences, which range in size from 2,800 to 5,600 square feet, have enviable views and opulent interiors.


But Mount Nicholson’s advantages go beyond just the housing quarters. A 50-meter heated indoor swimming pool, a cutting-edge fitness centre, a private movie theatre, and a wine cellar are also available to residents. A professional concierge service is also part of the development to take care of residents’ every need. It’s also important to see how carefully the development was designed. The neighbourhood includes a gorgeous garden that Christopher Bradley-Hole, a distinguished landscape architect, created. The garden has a water feature, a gazebo for meditation, and a playground for kids.


However, it’s possible that Mount Nicholson’s position is what makes it unique. One of Hong Kong’s most upscale areas, The Peak is renowned for its magnificent vistas and opulent lifestyle. The property is conveniently located in Hong Kong’s thriving commercial and leisure districts, which are only a short drive away.

 Luxury living is obviously more expensive, and Mount Nicholson is no exception. The aristocracy of Hong Kong has frequently chosen Mount Nicholson despite the hefty prices. Over 60 per cent of the homes and apartments have already been sold, according to Wheelock Properties, with purchasers hailing from Hong Kong, mainland China, and other Asian countries.


Finally, Mount Nicholson epitomises luxury life in Hong Kong. Many people consider it to be their ideal home because of its breathtaking setting, exquisite design, and first-rate amenities. Even though the prices are high, Mount Nicholson offers those who can afford it a once-in-a-lifetime chance to possess a piece of Hong Kong’s most prestigious real estate.

This article was first published on issue 30 of Palace magazine.

For more reads on Hong Kong properties, please click here.

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