Didnt some expert also mentioned that HK properties will also rise 5-10% this year ? And no more leakages to provide the liquidity ?
Expert sees possible 20pc dive in HK property prices by Karen Ha
Wednesday, August 17, 2011
Property prices in Hong Kong could tumble by up to 20 percent if the general global sentiment remains negative, CB Richard Ellis warned yesterday.
"We expect to see a correction of
5-10 percent in residential prices over the next 6-12 months. If sentiment continues to weaken, a correction of up to 20 percent would not be surprising," said Edward Farrelly, head of Hong Kong Research at the property consultancy.
The US Federal Reserve has vowed to maintain ultra-low interest rates until 2013, but this is unlikely to help boost home buyers' sentiment as the market remains vulnerable to credit risks, Farrelly said.
However, he noted Hong Kong's property market is still in a "relatively good position" as growth of the territory is not expected to weaken like developed Western economies.
Also, the market is not oversupplied and investors tend to turn their investments to emerging markets, including Hong Kong, during global downturns.
Another property consultancy, Midland Realty, expects property prices to remain flat or drop slightly for the rest of the year, after rising about 10 percent in the first seven months of the year from the same period in 2010.
Developers, meanwhile, are continuing to put new flats on the market. The Wings, a Tseung Kwan O residential project co-developed by Sun Hung Kai Properties (0016) and MTR Corp (0066), is expected to be available for sale soon.
Sung Hung Kai said it has not yet figured out when to introduce the flats to the market.
The pricing is expected to set a new benchmark for the district. The Wings will comprise 1,028 units, mainly between 1,000-1,400 square feet.
Some larger units are more than 2,500 sq ft.
Owners of similar-sized flats in the neighborhood are now asking for HK$8,000-HK$8,300 per square foot.
http://www.thestandard.com.hk/news_deta ... 10817&fc=4
It's all about "how much you made when you were right" & "how little you lost when you were wrong"