Open House: Cheapest Hong Kong Luxury Housing Has a Major Catch

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.

The catch? It’s located in a remote part of Lantau Island, with no direct transport links to Hong Kong Island, shops or medical facilities, and a reputation for being a ghost town fringed by jungle. ...