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Would HK property prices drop with the new chief executive - CY Leung?

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  1. #1

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    Would HK property prices drop with the new chief executive - CY Leung?

    I am currently renting a property and the lease would come to an end in June 12. I am debating whether buying a property or enter into another lease agreement. People are saying the property price of HK would drop with the new government start in July, headed by CY Leung. What is your view?


  2. #2

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    Quote Originally Posted by DS26:
    People are saying the property price of HK would drop with the new government start in July
    It depends on which people are saying this.

    If it's the people who collect cardboard from the bins in my village carpark then I shouldn't pay them any mind..

  3. #3

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    DS26 when you find out let me know also as I'm in the same position, To Buy or Not To Buy is the question


  4. #4

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    I dont see much supply and the flats that are available, the owners are asking crazy prices.

    If you will stay in HK for a long time then OK, but I have a feeling interest rates will change in a few years and then you are stuck with a higher mortgage and you cant sell.


  5. #5

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    HK is not a single market. Prices vary, depending on the location. HK Island Luxury units are going up, while in some areas in Kowloon and N.T. they are stable. So it depends where you want to buy. Also the downward risk in near term (say next 3 years) is very slight. If you are going to be in HK for long time then buy.


  6. #6

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    I have a friend who owns a 3 digit number of flats in Hong Kong. He said we should not buy now because if the government changes it is very likely that they will change the policy to artificially keep the supply short. In my opinion the drop could happen but would take a while as new constructions are not instant. And spaces in prime locations might not be affected.

    I stay in my place which I bought at a bit more than a quarter of the current price and will hold it. I had enough of renting before 1997 when contracts longer than 6-12 months were rarely available as prices increased steeply.

    Last edited by hktraveller; 07-04-2012 at 04:29 PM.

  7. #7

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    Quote Originally Posted by hktraveller:
    I have a friend who owns a 3 digit number of flats in Hong Kong. He said we should not buy now because if the government changes it is very likely that they will change the policy to artificially keep the supply short. In my opinion the drop could happen but would take a while as new constructions are not instant. And spaces in prime locations might not be affected.
    My friend said exactly the opposite of what your friend said. Well, not about the buying but about what the government is likely to do or not to do

  8. #8

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    Original Post Deleted
    That is how I read what was written the first time, but I think he actually means the government will change the policy AWAY FROM keeping supply short.

    Someone who owns over 100 flats in HK? Not Randy by any chance?

  9. #9

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    I do believe the prices will drop during cy's term. I do also believe prices will continue to go up before they come down. I don't know how high prices will go and how much it will come down.

    Not very useful eh.


  10. #10

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    Original Post Deleted
    Sorry, English is not my mother tongue. I should probably have added the word current so that it reads: "that they will change the current policy to artificially keep the supply short".

    @dumbdonkey: If you know any better, enlighten us. But we will hold you responsible for losses should it turn out differently.

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