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Hong Kong property: Li Ka-shing’s CK Asset lists another 110 flats at Blue Coast after 8,000 buyers jump at first 138
- Second price list for Wong Chuk Hang project includes two- and three-bedroom flats priced from HK$9.05 million (US$1.16 million) to HK$24.7 million
- Market is keenly watching the project for signs of the likely speed and direction of the city’s housing market recovery
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CK Asset Holdings, the flagship property developer of Hong Kong billionaire Li Ka-shing, is putting another 110 units at its Blue Coast project on the market after buyers enthusiastically oversubscribed the development’s first batch of flats.
CK Asset released the second batch for the project in Wong Chuk Hang on Saturday after about 8,000 prospective buyers wrote cheques for a chance to buy the 138 flats put up for sale at prices below cost on Friday, according to property agents.
The new list includes 20 two-bedroom units and 90 three-bedrooms flats, with areas ranging from 452 to 972 sq ft. The prices after discounts range from HK$9.05 million (US$1.16 million) to HK$24.7 million, or HK$19,938 to HK25,805 per square foot.
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The average price per square foot of the 110 units works out to HK$22,703, HK$735 more than the average price of the first 138 flats, which surprised the market when CK Asset priced them at the lowest level among all completed projects in the residential neighbourhood.
The two price lists include a total of 248 units valued at HK$5 billion, and the developer is likely to start the first round of sales next weekend.
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The market is keenly watching the project, set to be one of the biggest launched in 2024, for signs of the likely speed and direction of the city’s housing market recovery.
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