Luxury abounds in Hong Kong. But when it comes to property, what does it mean? For many it's a matter of location, and Mid-Levels is seen as the place to be for many seeking apartments with a view to match the prestige address. In Hong Kong, the five-star location on every realtor's map is around May Road. The area has been known as the dress circle as far back as 100 years ago by the city's early settlers, according to Lily Choi, head of residential leasing at Kerry Properties. 'This exclusive residential neighbourhood became known as 'The Dress Circle' for its similarities between the preferred dress circle section in a majestic theatre and the privileged location enjoyed at the Kerry Properties' addresses,' Ms Choi explains. Kerry Properties has its own 'cul-de-sac' on the market with properties on either May Road or Tregunter Path. Ms Choi says that a good location implies 'convenience, a great view, great community and great neighbourhood'. Minutes from Central, yet with a tranquil setting, two of Kerry Properties' top residences, The Aigburth and Branksome Crest, have a unique blend of calm and convenience. Ms Choi says a luxury property can also be defined by the quality of the flat itself. As with The Aigburth and Branksome Crest, all the hardware and provisions that come with an apartment must be top quality in order to be called luxury. Because Kerry Properties knows that details matter to its top-end clients, even the hinges on the doors are meticulously checked and replaced as need be every time a tenant moves out of the units, Ms Choi says. And the final jewel required for a property to compete at the high-end level is well-trained customer service staff. But, if you see a luxury property you like, grab it. Great properties rarely stay on the market for long. 'Demand is much higher than supply,' Ms Choi says. Kerry Properties' overall occupancy rate is 98 per cent, and The Aigburth has just one 3,000 sqft unit available. For the optimistic, there is a waiting list for apartments ranging from 3,000 sqft to 6,000 sqft - a few with private swimming pools. Driving the demand are professionals from financial institutions, upmarket consumer products manufacturers, hi-tech service companies and international legal firms which continue to place their business emphasis in Southeast Asia. But luxury comes at a price. Kerry Properties' rents have increased by about 30per cent compared to this time last year at their luxury properties. The leasing range for properties at The Aigburth and Branksome Crest is about HK$58 per sqft. That's the price you pay for taking up residence in a building that satisfies all the factors that make it a desirable luxury address - a distinguished location, excellent quality and customer service. The Aigburth and Branksome Crest are located in the heart of Mid-Levels with views of the harbour and the Peak. Both boast top quality design and finishes, high-end appliances, and a bespoke concierge, branded as Kerry Residence. Despite headlines warning of a slowdown in the luxury property sales sector, Ms Choi's outlook on the luxury residential leasing sector for the coming year is positive. 'Demand is still strong versus supply. With the continual influx of expatriates, leasing activities are bound to continue to be strong.' Kerry Properties is controlled by the Kerry Group, the controlling shareholder of the SCMP Group, publisher of the South China Morning Post.