People in asia has an excessive fear of not having a roof on the head under their name.. so that manifest into the fight for any real estate and subsequent belief that property prices will always go up in the long run blar blar blar.. speak to the real estate agents and you will see how deeply entrenched that belief is..
I have no answer to the question of whether it will be real estate inflation or deflation.. i think its not the virus that impact HK, more the fight with mainland which, ironically, makes CCP more determined to take back HK and exert more control, hence suppressing the demand of mainland money trying to get out of china..
we can only wait to see... honestly a real estate here is really a punt.. the place is not worth retirement (weather, cost, etc).. then only reason becomes speculation. you can join or you can don't, and find somewhere else more meaningful to invest in...
The total number of houses in HK is not that small.. many people are holding onto more than one unit for investment purposes.. as the baby boomer pass away.. we can only see if these supply comes into the market..