Blue Coast II Launches First Batch of 128 Flats | HK Weekend Property Market Recap

Blue Coast II has launched its first batch of units, with sale prices ranging from HK$9.21M to HK$18.82M, averaging about HK$21,500 per square foot. This is similar to the previous phase’s average of HK$21,968, despite earlier claims of a 10% price hike. The developer is marketing this as a limited time opportunity, implying that prices could rise if buyers wait.

However, over the last seven months since the previous phase launched, home prices in Hong Kong have dropped by about 7.5%. In light of this trend, there’s room for further price reductions, meaning that maintaining the same pricing could be seen as a price increase in a weakening market.

Transaction losses remain widespread in relatively new developments. Projects like La Marina and Southland in South Island have seen multiple listings with losses exceeding HK$10 million, largely due to pressure from Blue Coast, prompting many owners to offload their properties under stress.

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