"House party" is not a phrase in the average Hongkonger's vocabulary.

With space at a premium, tiny flats are the norm. Entertaining guests at home is very much an activity for the privileged.

Celebrities, financiers and real estate moguls loan out their properties for a night, and are typically compensated with between $10,000 and $19,000 to leave their home.

Renters pay between $102,000 and $128,000 for packages that, as well as the property, include staff, catering, and security.

"In Paris, lots of people host guests in their own homes -- it's cultural," Maherzi tells CNN.

"But in Hong Kong, (parties are) all in the same venues. It's the ballroom of the Grand Hyatt, it's a restaurant space that you take over. There's a big lack of imagination because of the lack of venues.

"With this kind of event, I was trying to educate people."

CNN profiles three of the most exclusive house party pads up for rent.

Villa with a killer view

Value: $44.7 million*

Monthly rent: $60,067*

Located on Bowen Road in the affluent Mid-levels area of Hong Kong Island, this 678-square-meter (7,300-square-foot) mansion is owned by local clothing magnate Samuel Chan Wing-sun, who is notorious for throwing extravagant parties.

With an incredible view of Hong Kong Island's famous skyline, including the iconic Bank of China, the home features a private swimming pool and garden -- both a rarity in densely populated Hong Kong, especially just 2.5 miles (4 kilometers) from the Central downtown district.

The house has also played host to some high-profile events planned by Maherzi, such as the closing party of 2016's Le French May, an annual cultural festival celebrating all things Gallic.

Baller beachfront apartment

Value: $12.8 million*

Monthly rent: $23,005

This 195-square-meter (2,100-square-foot), four-bedroom apartment is nestled in the uber-exclusive oceanfront neighborhood of Repulse Bay -- home to 110 Repulse Bay Road which earlier this year was reported to be the priciest property in the world, on a per square foot basis, with an estimated price tag of $87.3 million.

The property features a 93-square-meter (1,000-square-foot) balcony that overlooks the beach, which is ideal for dinners and private cocktail parties for up to 200 people.

"People usually love being on the terrace, where there's a breeze and the sound of the ocean," Tatiana Mercat, who lives at the apartment with her financier husband and their two children, tells CNN.

Mercat doesn't have to worry about gatecrashers when leasing out her home to party-goers.

Getting past the door without an invite is "impossible," says Maherzi, as stringent security at the main entrance, front door and inside the home is included.

Sky-high duplex

Value: $17.3 million*

Monthly rent: $11,503

Located just below the prestigious Peak area, which is named after the 552-meter (1,811 foot) tall mountain that is the highest point on Hong Kong Island, this apartment is a duplex of 279 square meters (3,000 square feet).

It has three bedrooms, but the pieces de resistance are its two private terraces, which boast extensive views over Victoria Harbor. One terrace normally would serve as a bar area during parties.

French financier Pierre, who declined to give his last name for privacy reasons, has been renting the apartment since 2012.

"I like the place very much. It's a beautiful one so I think it makes sense to have events here and to share that," he tells CNN.

"These kinds of events are very New York-style ... it would appeal to an international (crowd)."

Sometimes the owners will stay and enjoy the party, especially if it's a corporate event.

"Option one is, we include the owner on the guest list -- something the brands are more than happy to do," Maherzi explains. "If it's a big cocktail party, or if maybe the owner doesn't want to be here, or can't be here ... we offer them a two- or three-day staycation in a hotel."

Finally, what about noise complaints? Maherzi says it's not an issue.

"We invite all of the neighbors."