HK Property Market crystal ball

[HKNewBi]

That is a 'how long is a piece of string' type question.

If you have your heart set on a flat, it is worth more to you than someone else who isn't interested. To equate that to a $ value is not possible other than to see how much more you are willing to pay.

Depends on many things - 1. Do you have the extra money / finance. 2. Even if you do, would you want to spend it as you may have job concerns etc.

The list goes on.

[tvrlover]

from my recent experience when flat hunting, is that even though the average flat prices have dropped.. it doesnt mean the ones u want have dropped...

it totally depends on how much you want to buy that flat, and how desperate the owner wants to sell... and if it is a nice flat, the demand usually keeps the price higher...

but out of interest, if you found your dream flat after perhaps searching for a few months, but the owner was not desperate to sell (i.e. paid off mortgage, retired, has a pot of cash)... so instead of 30 or 40% off... it was closer to about 5% to 10% off... would you still go for it?

Wait a few months, you'll see the 2nd drop (big one) in economic indicators, which will make a heck of a lot more sellers desperate. When everyone realizes the 'stimulus' packages aren't stimulating anything, it's game over.