So I loved Peng Chau for its views of the sea, when I first moved in 2011, only 7500 for a 500 square foot ground floor flat with 600 square foot garden, every window a sea view- when I moved back in 2018, was 2nd floor and roof balcony, same size but renovated, for 13000. Can't beat the price. You get used to the commute and you always get a seat and it would relax me to look out the windows and see the sea. From Central, I walked to work in Sheung Wan or, when it was too hot, took the bus and walked to the ferry after work. Monthly pass- 600 dollars, can't beat the price- coworkers commuting from Kowloon paid more on the MTR. Big supermarket at the pier (no supermarket on Lamma) and a little bit of an economic boost during the pandemic as Peng Chau is not as popular as Lamma and became a better destination. When I first moved there, was about the only gweilo, at first the ferry people tried to show me other ferries thinking I was on the wrong boat. Didn't bother me in the least, everyone left me alone. Now some hipster cafes have opened and I was so happy to see that because it's so lovely there- had a lovely view of Lantau and the Trappist Monastery. Roof balcony had the best views of just about anywhere I have seen in HK. We had an inter-island ferry that went to Cheung Chau and Mui Wo. Our tiny church had a brank in Mui Wo and the priests lived there and came over to our tiny church on the ferry. Beautiful nature walk along the sea right by my flat, never crowded. Yes, if you want night life, bars, etc. it's not there but so easy to get to it all in Central, if that's your thing. Lots of interesting local festivals as well, including Cantonese opera for free for a couple of weeks (they build an outdoor theatre out of bamboo). The coolest funerals ever, right at the ferry exit.
It's not for everyone but would rather live there working in Sheung Wan than the equivalent rent on the Kowloon side. They also built some huge townhouses, you can get 4-5 bedrooms for about 40k really big.