Rich people in Hong Kong primarily live in exclusive areas on Hong Kong Island like The Peak, known for panoramic views and mansions, along with affluent neighborhoods like Mid-Levels, Deep Water Bay, Repulse Bay, and Happy Valley, all offering prestige, greenery, and high-end residences away from the dense city bustle, though some also reside in luxurious apartments in areas like Union Square on Kowloon.
Topping the list is The Peak, an exclusive residential area nestled atop the highest point on Hong Kong Island. Known for its breathtaking panoramic views of the city and Victoria Harbour, The Peak boasts luxurious mansions and high-end condominiums.
Home to stars like Aaron Kwok and Joey Yung, Happy Valley is one of Hong Kong's most exclusive residential areas. Supposedly its English name is ironic, referring to the death toll from disease in the area back in the 19th century, which prompted the establishment of Hong Kong's first Christian cemetery.
World-Class Wealths are the superior class in Hong Kong. They are successful middle-aged, Chinese and Western individuals or families in Hong Kong. They have small family size. They possess high educational qualifications, usually undergraduates or above.
The four big families of Hong Kong (Chinese: 香港四大家族) is a term used to describe the four business families that historically rose to prominence and became influential in Hong Kong. In order of influence, they are the Li, Ho, Lo and Hui families.
Chungking Mansions is located on the busy thoroughfare of Nathan Road, not far from several exits from the Tsim Sha Tsui and East Tsim Sha Tsui MTR stations and across the road from the towering Isquare mall.
To be in Hong Kong's top 1%, an income of $3.4 million is required, contributing to China's total income share of 13.9%.
New York City - #1
With over 340,000 HNWIs and total private wealth exceeding $3 trillion, NYC is home to Wall Street, luxury real estate markets, and global corporate headquarters.
A monthly salary of HKD 20,000–30,000 (USD 2,550–3,830) can support a comfortable lifestyle in Hong Kong. While HKD 50,000 (USD 6,380) is considered a high income, it's well above the city's average salary of HKD 20,000 (USD 2,550), offering greater financial flexibility.
With cooler air and bird's-eye views, Victoria Peak has long been Hong Kong's most desirable place to live.
Jackie Chan is the richest celebrity in Hong Kong, and he is also one of the richest actors in the world with a net worth of USD 400 million.
Here are the report's top 10 cities with the highest populations of ultra-wealthy people:
Hong Kong raises revenues from the sale and taxation of land and through attracting international businesses to provide capital for its public finance, due to its low tax policy.
Hong Kong's Tsim Sha Tsui retained its status as the most expensive retail street in the Asia-Pacific region and the fourth priciest worldwide, even as annual rents fell about 6 percent to US$1,515 (HK$11,817) per square foot, according to commercial real estate services firm Cushman & Wakefield's latest report.
Sydney is generally considered Australia's richest city, often topping lists for high-net-worth individuals, property values, and its strong financial sector, though Melbourne consistently ranks close behind, with both cities featuring in global wealth reports alongside Perth and Brisbane. Sydney leads in overall wealth indicators and is Australia's financial hub, while expensive suburbs are found across these major cities, including some in Western Australia and Victoria.
New York City, New York
As the country's financial capital, it houses more millionaires and billionaires than any other U.S. city. New York's mix of finance, culture, and global influence keeps it firmly at the top. No other American city matches its scale of wealth or its role as a global financial center.
1. Singapore city, Singapore 2. Tokyo, Japan 3. Seoul, South Korea 4.
Top 50 list of Hong Kong billionaires' wealth climb
Singapore had a projected GDP per capita of approximately $88,000 in 2024, making it one of the richest nations in Southeast Asia. Hong Kong's GDP per capita is slightly lower at around $52,000, but it still far surpasses most neighbouring economies.
After 2047, Hong Kong will likely see increasing integration with mainland China, potentially shifting from its current "one country, two systems" model towards full integration as an ordinary Chinese city, with changes affecting its legal system, currency (HKD to RMB), freedoms, and political autonomy, though Beijing officials claim the system will continue, possibly indefinitely, while property lease issues also need resolution. The core tension lies between Beijing's desire for full control and maintaining Hong Kong's unique economic role, with recent crackdowns on dissent suggesting a move towards "one country, one system" (1C1S).
Yes, approximately 90% of people in China own their homes, making it one of the highest homeownership rates globally, a result of significant housing reforms starting in 1998 that privatized public housing, alongside strong cultural emphasis on owning property as a marker of stability and a prerequisite for marriage, though it's important to note ownership is of the building, not the land, which remains state-owned. Urban rates hover around 87%, while rural rates are over 95%, with many families owning multiple properties.
Yes, foreigners can buy property in Hong Kong with virtually no restrictions. Unlike many other countries that impose limitations on non-residents purchasing real estate, Hong Kong has an open and transparent property market that allows foreigners to own residential and commercial properties outright.