Five Facts You Don’t Know About The Peak Neighborhood

Five Facts You Don’t Know About The Peak Neighborhood

Peak Neighborhood Hong Kong

Welcome to the Peak Neighborhood Hong Kong, the world’s most expensive street.

The city isn’t just the most expensive place in the world but home to many famous and successful business moguls.

Surprisingly, many people don’t know what is so special about the expensive abode.

This article will unveil the most fascinating things about the highly-rated neighborhood in Hong Kong.

Where Is The Peak Neighborhood Located In Hong Kong

The quiet city shares boundaries with Lung Fu Shan Road, Stubbs Road, Mount Kellett Road, and Barker Road; which are regarded as the “Peak streets.”

People Living In The Peak Neighborhood Hong Kong

The rich are mostly seen in the secluded area as it costs a fortune to own an apartment.

Chinese business mogul Jack Ma, former Hong Kong chief executive Cy Heung, and real estate Tycoon Chen Hongtian invest a fortune in some of the pricey mansions in the Peak neighborhood.

  • Cy Heung

The $40m-rated businessman reportedly purchased a luxury house for an undisclosed fee.

It features multiple towers and a greenhouse for relaxation.

  • Jack Ma

$55 million-rated Jackman reportedly purchased a mansion worth $191 million in 2015 to enjoy quality time in a very private and secured vicinity.

Expectedly, Jack Ma’s mansion turned out to be the most expensive apartment in the neighborhood.

  • Chen Hongtian

You might need to change your mindset if you think Jack Ma’s mansion was too expensive because Chen Hongtian’s spending spree will shock you.

The Real Estate tycoon, who doubles as the founder and chairman of the Cheng Kei Group, surprised everyone when he purchased a home for $270 million.

The gigantic mansion features 9, 212 sq feet which is one of the most impressive parts of the property.

Designed by Frank Gehry, the 9212 sq ft house possesses a state-of-the-art architectural design that reflects Chinese culture.

It also features top-notch modern-day facilities, including a tennis court, museum, bathroom, and a well-furnished living room.

Describing the Mansion, Mr. Zackary Wright from Christie’s International Real Estate, said it is “the most striking building on The Peak”

The Gehry-inspired $270 million house unsurprisingly smashed the record for the most expensive home in the neighborhood, thanks to its bogey stature, multiple units, and high price.

Jack Ma’s mansion isn’t close to competing with the multi-million investment based on class, height, and financial value.

Revealing why he acquired such expensive property, the real estate tycoon said that the attractive home is strictly for personal use.

However, Hongtian sold the mansion’s last apartment for $66m despite his initial “not-for-sale” comment.

If an apartment costs that much, imagine how much the billionaire will generate from the whole mansion.

The Most Expensive Mansion On The Peak Neighborhood

There is tough competition for the most expensive mansion in the Peak Neighborhood Hong Kong.

Let’s say you’ve got to break someone’s record to become a recognized house owner in the street.

The elites in the area always flaunt their financial prowess by purchasing the Peak’s apartments at jaw-dropping prices.

The first most expensive apartment in the Peak Neighborhood was worth $105 million in 2015.

The record lasted for three years before an anonymous billionaire purchased a two-unit apartment for $150 million in 2018.

Another billionaire broke the record a year later when he scooped a beautiful mansion featuring a swimming pool and an elevator for $180 million in 2019.

It’s believed that the $180 million rated building is currently the most expensive mansion in the Peak Neighborhood.

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Are There Cheap Houses In Peak Neighborhood

Why go for a mansion when you can purchase cheap, beautiful, and conducive houses?


Unfortunately, there are no cheap houses in the Peak Neighborhood Hong Kong.

Nonetheless, you would see some attractive and gorgeous houses after intense searching.

There are handful of fully-furnished flats for sale in the Neighborhood if you are ready to cough out $40 million.

Beam your searchlight on Bakar Road — the only Peak street known for houses available for sale.

Alternatively, you can go for an apartment instead of a complete house.

There are relatively cheap unit apartments on the Peak compared to the pricey mansions and houses.

Cost Of A Flat In Peak Neighborhood

Though flats are cheaper than mansions, $40m appears a bit high for many salary earners.

An “affordable” flat in the Peak Neighborhood costs at least $40m

Cost Of An Apartment In The Peak Neighborhood

It is believed that you can get a conducive and beautiful apartment for $7.7 million in the world’s most unaffordable place to stay.

Who says you can’t achieve your dream of living on the Peak? Double your streams of income, and things will fall in place.

The Peak Neighborhood Hong Kong: Tourist Attractions

Meanwhile, the Peak is not all about the expensive and lavish mansions. It boasts captivating landscapes, spectacular views, and many exciting activities.

Some tourist attractions and exciting activities in Peak Neighborhood Hong Kong include Victoria Peak, Hiking, Galleria Peak, Sky Terrace, etc.

  • Victoria Peak

With over 7 million visitors per year, Victoria Peak is inarguably one of the most visited Hong Kong.

We recommend this serene residential area for those interested in a calm and pleasant place for their next vacation.

You haven’t seen the best of Hong Kong until you reach Victoria Peak’s top.

It offers a 360-degree scenic view of the island and its surroundings.

I advise you reach the top before 8 PM to enjoy the uninterrupted view of the countless skyscrapers and the spectacular Skyline lit against the night sky.

  • Hiking

Hiking is arguably the best way to reach the top of the Victoria Peak.

The fun you would derive while viewing iconic skyscrapers on your way to the top will remain with you forever.

  • Explore The Peak Tram

The gorgeous Peak Tram constructed in 1888 offers another exciting and lively route to get to the top of Vitoria Peak.

It guarantees a secured, affordable and seamless way to reach the top in no time. You don’t have to break the bank to explore this route.

  • The Galleria Peak

Getting to the top of Victoria Peak, you will see Galleria Peak — a mall created to make visitors feel at home.

Explore the Galleria’s escalators to enjoy the iconic view of the southern side of Hong Kong.

The Peak isn’t just about spending because the escalators are free! You don’t have to pay a dime to use them.

  • The Peak Tower

I almost forget, there is also a massive Peak Tower close to the Peak galleria. It is home to the Sky Terrace, Hong Kong’s highest viewing platform.

It offers almost the same service as the Galeria, although visitors must pay before exploring.

  • View The Stars With Your Spouse

Spread your tent to view the star with your spouse while the gentle breeze creates a soothing atmosphere.

Expectedly, the Peak neighborhood Hong Kong is a mosquito-free area. It’s also free from any air-borne health challenges.

  • Visit The Peak Café For Local And International Cuisines

Satisfy your hunger at the highly-rated Peak Café, which is one of the oldest restaurants in Hong Kong.

International and local cuisines are readily available for consumption as long as you have enough cash in your wallet.

  • Shop At The Nearby Central Business District

The Peak is 20 minutes away from the ever-busy central business district, where you can get whatever you need in the available shops, supermarkets, and restaurants.

Navigate your way through the winding roads in the neighbourhood; see the trunks of trees, and experience what it means to enjoy naturally calm and serene environments.

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Peak Neighborhood Weather Conditions

With 1811 feet above the seawater, the Peak guarantees mild altitude and conducive weather conditions.

Nonetheless, visit the Peak neighborhood with your sweater to be on a safe side.

Peak Neighborhood Hong Kong Security

The government officials know security around the region must be tight due to the number of billionaires and multi-million properties.

Barbed wire fences surrounds the ever-green area, making it extremely difficult for intruders to break into anyone’s apartment.

The government ensures the best of the best security officers guard the neighborhood daily.

In a nutshell, lives and properties in the Peak Neighborhood are secured and safe.

You can rest assured that staying in the neighborhood is safe. No cause for alarm.

Peak Neighborhood Hong Kong

Can Peak Neighborhood Hong Kong Maintain Its Expensive Status For Long?

Visualcapitalist’s recently-released data rates Hong Kong as the most expensive place in the world, with an affordability score of 20.8.

The list also includes Osaka, Singapore, Vancouver (11.9), Sydney (11.0), London(8.2), and San Diego (7.3).

I wasn’t surprised anyways; that has been the case for the past nine years.

Like every other year, The Peak Neighborhood influences Hong Kong’s ranking due to its high cost of living.

It is safe to admit that the neighborhood’s expensive status, as the world’s most unaffordable place, won’t change soon.

Many business owners, bankers, and celebrities reportedly consider investing in some of the Mansions in the neighborhood.

Conclusion

What are your thoughts on the world’s most expensive and unaffordable neighborhood?

Does it deserve the hype? Would you love to live in any of the extravagant mansions? Kindly share your reservations and opinions in the comment section below.

Ibukun Italoye

Ibukun Italoye is a writer with over two years of experience writing in various niches, including football, lifestyle, screenwriting, and stories. He is a Christian, a brother and a friend who loves helping others reach their full potential.

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