Hong Kong homebuyers snap up units at The Sterling as value-focused demand deepens

Hong Kong homebuyers are still willing to spend, and the sell-out of a major new development on Saturday showed how demand is increasingly concentrated in projects that offer clear value as the housing recovery enters a more mature phase. China Resources Land’s The Sterling in southwestern Kowloon, in Cheung Sha Wan, sold all 180 units offered in its first price-list batch, generating nearly HK$1.6 billion (US$204 million). The project received more than 46,000 subscriptions, or more than 254...