2025-02-21 28Hse Editor
The third phase of Blue Coast II at Wong Chuk Hang MTR Station, co-developed by CK Asset Holdings (1113) and MTR Corporation (0066), is set to launch its first batch of 256 units for sale this Saturday. According to market sources, around 7,500 applications have been received so far, which translates to an over-subscription rate of more than 28 times for the new flats.
The developer noted that the recent policy changes announced in the Policy Address, which relaxed mortgage caps—especially the 70% mortgage ratio for properties above HK$30 million—have greatly benefitted larger units. As a result, the developer plans to bring forward the release of four-bedroom units, which were originally scheduled for sale next year, and sell them by tender in the next phase.
The developer also mentioned that since the Policy Address, inquiries about the project have tripled, with most inquiries coming from homeowners looking to upgrade to three-bedroom units.
Blue Coast II includes 61 four-bedroom units, accounting for 11% of the project. The previous phase, Blue Coast, sold 14 four-bedroom units, generating HK$530 million, with units selling between HK$36 million and HK$39 million. The highest price per square foot reached HK$31,000. It is expected that the price per square foot for the four-bedroom units in Blue Coast II could increase by 10%, reaching around HK$35,000.
The first batch of 256 units will go on sale this Saturday, offering a mix of two-bedroom and three-bedroom units. Specifically, there will be 151 two-bedroom units and 105 three-bedroom units, with usable areas ranging from 474 to 802 square feet. The discounted prices for these units range from HK$9.21 million to HK$18.91 million, with prices per square foot ranging from HK$18,998 to HK$24,458. The total market value of this batch is estimated at HK$3.99 billion.
The lowest-priced unit is a two-bedroom apartment, located in Block 5, Unit G on the 7th floor, with a saleable area of 485 square feet. Its discounted price is HK$9.21 million, which translates to HK$18,998 per square foot.
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