think the media is only speaking for their own interest. Even though there will always be be possibility prices may drop, it is currently far from truth. The media 各懷鬼胎, on one hand this is what the public wants to hear so they will get more readership, on the second hand I think this is what the government wants to hear. Conspiracy theory here, the more they came prices drops the more likely government will withdraw or loosen the 3D? In this case they are doing investors like us a favor and lying to the people who have not yet bought anything.
I am the wet nurse. My boss (2067 divided by 3) is extremely obnoxious and has a hideous countenance. He should step down immediately and let me to replace him.
We can't control price rise or drop. If prices drop in the next few years. Investors will buy another flat. If price rise, they'll buy another flat. Makes no difference to them. Unless they can find a better investment. From years of experience I have lost money in stocks, made very little money in gold, no money in funds (lucky didn't buy accumulator) so unless there's a good and stable investment elsewhere I would keep buying property (maybe out of Hong Kong?) most importantly I spend too much time in business I don't have time to study other investments.
The way i see it there must me millions of other investments in this world but u only have limited time and capital. So only invest in something safe and experienced in.
An advice for people who wait to buy property when the price drops another 30%:
If you are renting now I suggest you really consider buying something today. Because as I suggested you will never know for certain that prices will drop or not. But you are racing against time. Please remember you are paying rent at about 3% of property value. This means if you want to "beat" the market property need to decrease more than 3%, 2 hears 6%, 3 years 9% and so on. If the property does drop 20% in 3 years you will beat the market by 10%, but remember you need to pay 3 more years of mortgages than if you buy today. So that will only come to around a few % difference in price. An I'm sure you can find some property that can be negotiated that few % today. And in the end it doesn't make so much difference. So notwithstanding prices rise or drop you will benefit.
If you are waiting for property to drop 50%, then it is up to you but you are playing against really poor odds. And if it does drop 50% I think the economy of Hong Kong with be very poor and still you probably cannot get mortgage.
