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Victoria Peak


China - Hong-Kong

15°C

Victoria Peak - Hong-Kong

The neighborhood was originally built by European residents who wanted to escape from the tropical heat of the port and who started to build their houses on this peak which reaches 550 meters of altitude. The Victoria Peak neighborhood is one of the best ones in Hong Kong. It is the highest point of the island and as it dominates the city, there is a breathtaking renowned view on the famous bay and the skyscrapers. It has been the most fashionable district since the colonial era. Between 1904 and 1930, the Peak Reservation Ordinance stated that the Victoria Peak district was a place which was only reserved for non-Chinese residents. Nowadays, it is a trendy residential place which hosts the most splendid properties of Hong Kong and welcomes the most wealthy population of the city.

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Market Overview

Hong Kong always attracts more foreign investors, and it has a considerable consequence on the real-estate prices, which have skyrocketed in the past few years. In 2014, prices increased by 12% and reached new heights: some luxury properties have been sold 185,000 euros per square meter, despite the legal measures taken by the Government to calm down the housing market. This phenomenon can be explained by the fact that the number of building plot did not rise these past years, which led to a frenetic increase of the existing properties. According to experts, Hong Kong is considered as the most expensive city in the world and this tendency is not ready to change as Hong Kong appeals to Chinese elite and very wealthy foreign businessmen every year.

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Hong-Kong
Hotspots in Hong-Kong

Hong-Kong is situated in the South-East of the People's Republic of China and is composed of more than 230 islands and a part of the continental territory. It is mainly made of mountainous relief and it has an exceptional deep water port. In 1842 the island of Hong Kong was given up to the United Kingdom. However, in July 1997, the Hong Kong territories were retroceded to China and they became a Special Administrative Region of the People's Republic of China, with a high degree of autonomy. Very urbanized, Hong Kong is a leading financial and commercial area and has a mature economic market and an active domestic consumption. 

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