Wheelock Properties Ltd. sold a luxury home in Hong Kong’s exclusive Peak neighborhood to an unidentified buyer for a lower-than-expected price tag of HK$830 million ($107 million) on Saturday. While it took Wheelock just three hours to sell the home, the transaction works out to HK$87,784 per square foot, more than 25 percent lower than estimates by some analysts. The sale shows that the ultra-luxury segment isn’t immune from a downturn in the broader housing market in Hong Kong, where prices have fallen 11 percent since September and analysts such as Bocom International Holdings Co.’s Alfred Lau are expecting ... (full story)