Recent Experiences in buying HK Property

[hong-konger]

What's the general sentiment : Are people still buying HK property these days or generally waiting for the change in country leadership later this year when supposed price reductions may take effect?

[TheBrit]

I think you are confusing HK with China...

[hong-konger]

Just to clarify :
An election will be held on March 25, 2012 to select the Chief Executive of Hong Kong. The incumbent Chief Executive Donald Tsang is barred from seeking a third term pursuant to the Basic Law of Hong Kong. The fourth Chief Executive term will begin on 1 July 2012.

[walkup]

What's the general sentiment : Are people still buying HK property these days or generally waiting for the change in country leadership later this year when supposed price reductions may take effect?

I have this sneaking suspicion that those asking this question would not buy if prices dropped as a result of sentiment dropping as they would fear further drops. Similarly, if prices rose as a result of sentiment rising, they would also refuse to buy as they would feel they have missed the boat. In short what they want is a situation of rising sentiment coupled with dropping prices and since this is never going to happen, the dithering can go on for ever and ever.

[booth]

I think it has slowed down. When a serious seller comes along, I see a cheap advertised price. But appears supply has lightened.

[randy1]

I think it has slowed down. When a serious seller comes along, I see a cheap advertised price. But appears supply has lightened.

What do you think has slowed? Transaction volume? Price increases? Supply growth of new property?

[zymu]

I have this sneaking suspicion that those asking this question would not buy if prices dropped as a result of sentiment dropping as they would fear further drops. Similarly, if prices rose as a result of sentiment rising, they would also refuse to buy as they would feel they have missed the boat. In short what they want is a situation of rising sentiment coupled with dropping prices and since this is never going to happen, the dithering can go on for ever and ever.

haha. this pretty much summarizes the crowd that's often "left out." they're just talkers and watchers because they never seize opportunities. if price drops, they run away and have no balls to swipe up bargains. if price accelerates upwards, they hit themselves in the head and complain.

[randy1]

haha. this pretty much summarizes the crowd that's often "left out." they're just talkers and watchers because they never seize opportunities. if price drops, they run away and have no balls to swipe up bargains. if price accelerates upwards, they hit themselves in the head and complain.

Yip. Agree entirely!

[hktraveller]

2004 was such a situation. I bought my first property 10% higher than the absolute SARS bottom. I hope we won't see it again to that extent.

[randy1]

Buy low, sell high. It's really that simple ...