I have spent 2 years in HK, and now my landlord wants to sell the property. I can buy his (which I don't really like) or other flats. The problem is, the price of flats in the area where I want to buy (Ma On Shan) have gone by 15-20% or so during the last 6 month, and 30-50% or in the last 3 years.
The mortgage is low now, so this isn't really a problem, but I am planning to stay in HK for another 2 to 4 years maximum. If the price of properties will drop by 30-50% in the next 2 to 4 years I am going to lose all the money I can set aside during these years.
What do you reckon is going to be the medium (2-4 years) trend in housing prices? I am looking for a cheapish property, around 3.5 to 4 million for a 800 square feet flat.
Thanks a lot.