The ’70s-era Sea Ranch development in Hong Kong.
Photographer: Anthony Kwan/BloombergReal Estate
Open House: Cheapest Hong Kong Luxury Housing Comes With a Major Catch
Sea Ranch is a rare example of a property development gone wrong in a city known for its sky-high house prices. Yet the project’s lack of convenience offers potential buyers rare bargains, provided they can put up with the solitude.
One of Hong Kong’s most enduringly strange places is Sea Ranch, a failed resort built in the 1970s for the wealthy that today offers some of the city’s cheapest real estate.
For example, one can buy a 1,250-square-foot (116-square-meter) apartment overlooking the sea for HK$5.3 million ($677,500), or less than half of what a home of a similar size would fetch in the nearby expat enclave of Discovery Bay.