My own prediction is that the correction won’t be as big as we expect. Look at what the government have done to cool down the market? None. The government appear to have done everything to prevent a collapse than anything. As soon as the Property price go down, the government will cease all their efforts in securing more land. Happened ten years ago.
is the pressure to find land more intense for public or private housing?
The correction percentage prediction has gone up to 15% from 10% predicted earlier. Apparently 'the city is facing its worst headwinds in 15 years'.
https://www.scmp.com/business/articl...nvestment-bank
If prices have risen 20% in the last 8 months, then fall 15% in the next 12 months, then aren't they still going up just a bit unstable?
Unless Greece and Italy really Fuck up, these minor bumps will go primarily unnoticed. Bought my place in 2016 and today got an offer which was about 5% higher than the best last month. Actually, my house has increased by over 70% in value in the last two years. I'm really thinking to sell it and downsize and use the excess cash to entertain myself. I'm semi retired at the age of 36, and been on overseas holidays 3 times this year already.
In today’s SCMP there’s another article about the imminent decline in Hong Kong’s property prices. Slowing economy, weak yuan and rising rates (I doubt any material increase will happen) point to a 15% drop, according to CLSA analysts. The only thing I can say is to the renters out there, prepare for monthly fee increases!!!! Landlords must be sweating hard. Doesn’t take much to make a local investor nervous.