Last month, my client Kelvin excitedly told me that he had finally managed to 'get on the property ladder' in a new development in Kowloon Bay, buying a 28th-floor unit with an open view. "The high-floor view is nice, nothing blocking it, of course it's worth it!" he said. But three months later, he regretted it—hot, intense southwest summer sun, air conditioning costs doubled, window frames leaking on typhoon days, and worst of all, he found out when reselling that the mid- to low-floor units in the same building were actually more popular with buyers.
In Hong Kong's property market, it seems to be an unwritten rule that 'the higher, the more expensive.' When developers set prices, units on higher floors are often 10-20% more expensive than those on lower floors, but is this premium really justified? As a veteran in the real estate industry with 15 years of experience, I have seen too many buyers blindly pursue high-floor units, only to hit various 'hidden pitfalls.' In today's article, I will break down the real pros and cons of high-floor units to help you make the smartest decision when buying a property.
:::tip Expert Tips According to data from Centaline Property in 2023, within the same housing estate, the turnover speed of mid-level units (10th-20th floors) is on average 15% faster than that of high-rise units, and they also have less room for price negotiation. This indicates that the market's pursuit of "high-rise" units may only be a psychological premium. :::
The 'Invisible Costs' of Upper Management: Accounts You Might Not Have Considered
Many friends buying their first home only see the 'view advantages' of high-floor units, but overlook the actual costs behind them. Let's use data to speak and see exactly where high-floor units are 'expensive'.
Air Conditioning Electricity Bill: Spend an Additional $8,000-$12,000 Annually
High-level units experience a serious west-facing issue, and combined with stronger winds, this leads to increased thermal convection. The air conditioning load in summer is 30-40% higher than that of lower-level units. For example, for a 400-square-foot unit:
- Lower floor units (5th-10th floor): Monthly electricity bill is about $800-$1,000
- Upper floor units (25th floor and above): Monthly electricity bill can reach $1,500-$2,000
Over the course of a year, just the electricity bill alone costs nearly ten thousand yuan more. If you are a first-time homebuyer whose mortgage is cheaper than rent, this extra expense absolutely cannot be ignored.
Maintenance: Window frames and exterior wall issues occur more frequently
High-level units in the Hong Kong real estate market, especially the "rooftop floors" above the 30th floor, are constantly exposed to strong winds, causing window frame sealants to deteriorate easily. I have a client who lives on the 35th floor of a luxury residence in Tseung Kwan O, and in the third year after moving in, he had to pay out of pocket to replace all the window frame seals, which cost $18,000.
:::warning Guide to Avoiding Pitfalls Before purchasing a high-floor unit, be sure to check the window frame brand and maintenance records. Some developers, in order to save costs, may use window frames in high-floor units that do not necessarily meet the 'wind pressure resistance standards,' and problems gradually emerge after moving in. :::
Resale Liquidity: Buyers Prefer 'Practical' Floors
According to Midland Realty's first-quarter data for 2024, in Hong Kong's secondary property market, mid-to-low floor units (floors 8-18) accounted for 52% of transactions, far higher than high-floor units at 28%. The reason is simple:
- Family buyers consider safety: Families with young children worry about the risk of falling from high floors and prefer to choose middle floors.
- Elderly dislike high floors: Older buyers generally feel psychological pressure from high floors, especially the "penthouse floors."
- Mortgage valuation is more conservative: Banks often appraise high-floor units more cautiously, especially for "very high floors" above the 30th floor.
I once handled a case: the owner held a unit on the 32nd floor in a certain estate in Tsuen Wan. The unit was on the market for three months with no interest and eventually had to be discounted by 8% before it was successfully sold. In contrast, a unit on the 12th floor in the same estate received three offers within a week.
The "Hidden Advantage" of Lower-Floor Units: Secrets Known Only to Insiders
Speaking of this, you might ask: 'Aren't lower-floor units noisy, stuffy, and without a view?' This is precisely the biggest misconception the public has about lower-floor units. In fact, lower-floor units in the Hong Kong real estate market have many 'hidden advantages'; it's just that developers won't proactively tell you.
More Practical: Daily Life Becomes More Convenient
Significantly Shorter Elevator Waiting Time: Friends who have lived in high-rise buildings know that waiting for the elevator during busy commuting hours can make you 'question life.' Lower-floor units (5th-10th floor) usually only take 1-2 minutes to get in and out, which is a real 'time cost' for workers rushing to get to work.
Emergency escape is safer: In case of a fire or elevator malfunction, residents on lower floors can choose to take the stairs, with distances below 10 floors being entirely acceptable. Residents on higher floors can only 'leave it to fate' and wait for rescue.
:::success Insider Tip If you choose a lower-floor unit, remember to avoid the 1st to 3rd floors (prone to street noise) and the 4th floor (some buyers avoid the number 'four'). The best floors are the 6th to 10th floors, which avoid the disadvantages of lower floors while enjoying the advantages of mid-level floors. :::
The view isn't necessarily bad: choosing the right orientation is more important
Many people think that lower-floor units definitely have no view, but in fact, the quality of the view depends on the 'orientation' and the 'surrounding environment', rather than simply the height of the floor.
Practical Case: I have a client who bought an 8th-floor unit in City One, Sha Tin, facing Shing Mun River, with an open view and a green belt blocking noise. In contrast, a 25th-floor unit in the same estate, although higher, faces the road and industrial area, and the view is actually worse.
Expert Advice: When choosing a property in the Hong Kong real estate market, orientation > floor level. A low-floor unit facing south or east is often more livable than a high-floor unit facing west or north.
Mortgage Valuations More Stable: Banks More Willing to 'Lend to the Maximum'
When banks approve mortgages, the valuation of middle and lower-floor units is usually more 'aggressive.' The reason is that these units have high liquidity and stable market demand, so banks consider the risk to be lower.
Real Data: According to the Meridian Mortgage 2024 report, within the same housing estate, the mortgage approval rate for lower to middle floor units is 5-8% higher than for higher floor units, and the proportion of 'borrowing to the maximum' (i.e., reaching the mortgage limit) is even higher.
For first-time homebuyers, this means you can 'get on the property ladder' with a smaller down payment, reducing financial pressure.
How to Choose the Floor That Suits You Best? Three Major Considerations
Seeing this, you might ask: 'So should I choose a high floor or a low floor?' The answer is: it depends on your needs and budget. Here are the three main factors I have summarized to help you make the smartest decision.
Consideration 1: Your Family Structure
- With children or elderly: It is recommended to choose a mid-level unit on floors 8-15, which offers higher safety and convenient access.
- Single individuals or young couples: You may consider high-level units on floors 20-25 to enjoy the scenic advantages.
- For investment rental purposes: Mid to low-level units (floors 6-12) have more stable rental demand and higher rental return rates.
Consideration 2: Your Budget Flexibility
If you are part of the group trying to buy a property with 'just enough for mortgage over rent' and have a limited budget, don't force yourself because of a 'premium for high floors'. A practical unit on the 10th floor is often more suitable for you than a 'beautiful view unit' on the 28th floor.
Calculation Formula:
- High-floor premium: usually 10-20% more expensive than low floors
- Additional costs: electricity, maintenance, management fees, etc., an extra $10,000-$15,000 per year
- Resale risk: high-floor units have an average listing time 30-40 days longer than mid-floor units
:::highlight Key Points In the Hong Kong property market, 'practical' is always more valuable than 'great view.' If your goal is to 'get on the property ladder' rather than 'show off,' lower to middle floor units are definitely the smarter choice. :::
Consideration 3: Estate Facilities and Surrounding Environment
The estate has clubhouse facilities: If the estate has a rooftop garden or sky clubhouse, residents on higher floors can access these facilities more conveniently, making a premium for higher floors more reasonable in this case.
There are noise sources nearby: If the estate is close to roads, railways, or industrial areas, lower-floor units will be disturbed by noise. In this case, choosing a unit above the 15th floor is more ideal.
Future Development Planning: Before purchasing, be sure to check the government's 'Outline Zoning Plan' to confirm whether there are any new high-rise construction plans nearby. If the 'high-floor unit with a beautiful view' you buy gets blocked by new buildings three years later, selling it then could result in a significant loss.
Summary: Purchase Property Rationally, Don't Be Trapped by the 'High-Floor Myth'
Having been involved in the Hong Kong property market for many years, I have seen too many buyers blindly chasing high-floor units, only to discover various problems after 'getting on the ladder'. High-floor units certainly have their advantages, but they are definitely not 'the higher, the better'.
Remember these three key points:
- Practicality > Vanity: A mid-level unit that fits your lifestyle needs is far more worth investing in than a high-level unit with a "nice view but impractical."
- Calculate hidden costs: Factors like electricity bills, maintenance, and resale liquidity can all affect your long-term holding costs.
- Choosing the right orientation is more important than choosing the right floor: Low-level units facing south or east are often more livable than high-level units facing west.
If you are a first-time homebuyer, my advice is: prioritize mid-level units on floors 8 to 15. This floor range avoids the noise issues of lower floors, does not carry the extra cost of higher floors, and also has the highest resale liquidity in the Hong Kong property market, making it the most "secure" choice.
:::tip Final reminder Buying a property is a major life event, so never let developers' 'premium for higher floors' or real estate agents' 'scenic view promotion' affect your judgment. Remember: the floor that suits you best is the best floor. :::
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Keywords: Hong Kong property market, real estate investment, home buying guide, property purchase strategies, first-time homeownership, getting on the property ladder, good deals, cheaper than renting, mortgage