I'll take a stab at answering this since I've been active in the property market over the past year.
**Disclaimer: Follow my advice at your own risk!!
1) With falling interest rates and rising inflation, we're approaching negative interest territory which means that property in HK will be an excellent hedge against inflation. As long as interest rates keep falling, property prices are bound to rise. So yes, I still think we have some way to go before we peak.
A lot of pundits are predicting that property prices will rise further - anywhere from 25% to 50% over the next 2 years.
2) $4M should get you something decent. However, decent is relative but it should buy you anywhere from 400 to 700 square feet of space, depending on the age, quality, and exact location of the building as well as the level of the seller's motivation.
How easily it can be rented out depends on the quality of the unit and how competitively you price it, in addition to what other units are available in your price range.
There is a lot for demand for flats in the SoHo Mid-levels area so as long as your flat is priced well and in good condition, you should be able to find a renter quite quickly.
3) To obtain a mortgage with a HK bank for regular salaried employees, you need to show at least 3 months of bank statements showing your income. For non-regular salaried employees (ie. commission/bonus heavy compensation), at least 6 months of bank statements are necessary.
Keep in mind that banks will look at your level of income, in addition to how much assets you have, to make sure that you can service the debt properly.
Originally Posted by travelfrog