View Poll Results: Hong Kong Property Bubble burst - 2011

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50. You may not vote on this poll
  • There is no Property Bubble

    9 18.00%
  • May burst by end of 2011

    8 16.00%
  • May burst by end of 2012

    17 34.00%
  • May burst by end of 2014

    3 6.00%
  • May burst by end of 2016

    3 6.00%
  • No Clue - Try your luck by investing !!

    10 20.00%
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Hong Kong Property bubble

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  1. #131

    Join Date
    May 2006
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    Pampanga, Philippines
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    29,768
    Quote Originally Posted by Mat:

    saying it will fall is fine but kinda of useless. We all know it will. By the time it does fall, some will be richer, some will be poorer....it's life.
    Well some on here seem to think prices are sure to keep rising

  2. #132

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,624
    Quote Originally Posted by hullexile:
    Well some on here seem to think prices are sure to keep rising
    Again time horizon....now if you look at it since 97 the prices have risen or are on par....it's all a matter of timing....

    the question is only: until when will they keep rising, how hard will be the fall and how long to get back above the highest level it reached prior the fall. It took 14 years since 97, nobody knows the next time around....

  3. #133

    Join Date
    Dec 2009
    Posts
    7,471

    Isn't it a bit basic to ask whether prices will rise rather than to ask if they'll rise as compared to inflation? (or even compared to other investment opportunities) Property aside, 7 million dollars buys a lot less than it did in 1997. So in real terms prices have fallen quite significantly, although people talk as though it's "caught up"


  4. #134

    Join Date
    Mar 2011
    Posts
    314
    Original Post Deleted
    Why do you hope that?

  5. #135

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,624
    Quote Originally Posted by chateau:
    Why do you hope that?
    Because he is renting and does not own a property in HK

    I do no wish the prices to drop, be it as a owner, tenant or landlord, but I wish a slow and constant progression - instead of the ups and downs that HK is familiar with....that is in perfect world and we know life isn't like this....

    Any way the prices go there will be winners and losers....

  6. #136

    Join Date
    Jun 2011
    Location
    Kowloon
    Posts
    197
    Original Post Deleted

    Agreed I've noticed a couple of bars in TST close down and no one seems willing to take up the lease. If you ask me that's a good sign that prices are so high people are prepared to keep their money in the bank and wait. ergo, prices got to come down soon.

  7. #137

    Join Date
    Mar 2011
    Posts
    314

    I think everyone loves money. I certainly do. But even if you didn't love money, the nice thing is that if you have it, and really don't want it, you can always give it away. But if you don't have it, and want it, its unlikely people will give it to you. So, money gives you options.

    Now, on a note more specifically related to property, I made a fair offer on a niceapartment over the weekend. Financing is not a problem (in the meaning that I have it arranged) but the problem is unprofessional sales agents. After telling me with quite some certainty that a particular price will definately succeed to make the purchase, and after I even presented a cheque for the deposit, the seller apparently increased the price by 800K "due to market conditions". And the agent of course tells me this is high, but "can you make a counter offer".

    I don't mind negotiation at all, but what I dislike is being assured of something, only to later find out it is not correct. The agent should not make such assurances, unless he is certain he is telling the truth. This is indeed what I told him, in a frank, but polite way.


  8. #138

    Join Date
    Mar 2011
    Posts
    314

    Yes, but if I did that I would also avoid making a profit if prices keep rising...

    Now if you could ASSURE me prices will fall, of course I will not buy. Can you do that?


  9. #139

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,624
    Quote Originally Posted by chateau:
    I even presented a cheque for the deposit, the seller apparently increased the price by 800K "due to market conditions". And the agent of course tells me this is high, but "can you make a counter offer".
    How much is the flat?
    +1Mio (almost) is hard to believe to be honest.

  10. #140

    Join Date
    Mar 2011
    Posts
    314

    Bank val is 12.2. Agent "promised" it would sell for 12.5. Final result - sell decides he now wants 13.3.