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Cheung Kong Group launches another low-priced property launch
Apr 2, 2024
Cheung Kong Group launches another low-priced property launch Hong Kong
By   Internet
  • City News
  • Low price launch
  • Hong Kong property market
  • Hong Kong property
Abstract: Once again, the Cheung Kong Group has caused a stir in the Hong Kong property market with its low-price strategy, particularly with the successful launch of its latest project, Blue Coast.

Blue Coast, located in the area above Wong Chuk Hang Station, has garnered significant attention due to its relatively affordable prices and excellent location.


The average price of the initial batch of 138 units was HK$21,968 per square foot, representing a price reduction of 21% to 26% compared to previous new developments in the area. This pricing advantage is remarkable and demonstrates the Cheung Kong Group's continued tradition of offering properties at lower prices, as well as its precise market insight and acute grasp of market trends.


The success of this project's launch lies not only in its pricing advantage but also in the Cheung Kong Group's deep market experience and effective marketing strategies. Looking back at the launch of the Ocean Pride II project in August last year, which also attracted a large number of buyers with its low prices, it set a record in the history of the Hong Kong property market. The launch of Blue Coast once again confirms the Cheung Kong Group's strength and influence in selling properties at lower prices, further solidifying its position in the market.


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The market response to Blue Coast has been remarkable, with over 12,000 ballots submitted in a short period after its launch, surpassing the performance of previous projects. Additionally, over 13,000 people visited the site, demonstrating the high level of market interest in the project. It's worth noting that the proportion of local buyers has increased from 70% to 75%, reflecting the attractiveness of Blue Coast to local buyers and market recognition.


In addition to its pricing advantage, Blue Coast has also attracted attention due to its prime location. The convenient transportation adjacent to the MTR station has become one of the key factors for buyers choosing Blue Coast. Cheung Kong Executive Director Zhao Guoxiong revealed that some buyers are owners of properties in previous phases of developments on the south side of Hong Kong Island, and they are attracted to Blue Coast due to its convenient location. This also reflects the attractiveness of Blue Coast as an investment project.


Although the launch of Blue Coast has been a huge success, the Cheung Kong Group does not stop there. Zhao Guoxiong disclosed that they are in discussions with the MTR Corporation regarding details and expect to announce the third price list for Blue Coast soon, further meeting market demand. This also means that Blue Coast will continue to maintain its activity in the market and provide buyers with more opportunities for selection.

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Cheung Kong Group launches another low-priced property launch
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