There is no Property Bubble
May burst by end of 2011
May burst by end of 2012
May burst by end of 2014
May burst by end of 2016
No Clue - Try your luck by investing !!
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....
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"
Why do you hope that?Original Post Deleted
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....
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.
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.
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?
Bank val is 12.2. Agent "promised" it would sell for 12.5. Final result - sell decides he now wants 13.3.