yes if interest rate is low, it makes sense to buy.
but u have to find a way to lock the interest rate below the market rental yield.
the reason why property value is still high, becuase
1. not many ppl are aware of the potential pitfall, or they choose not to be aware of it. remember one guy previously coming in to sell his 25y.o. CWB apartment and claiming that the government is willing to extend all leases for a 'nominal fee'.
2. the 2047 deadline is the same for everyone. so that cld be a reason why no difference between merton and harbour view.
interestingly, most people are not aware of the 'lease' period of a property.
technically apartments purchased are built on land that is rented from the government or from someone. some are longer lease some are short lease. some are permanent lease. this is a fact that i realized not many hkers are aware.