High property prices is good for property owners. But it is bad for the future generation, as they have to pay more for their property.
A property bubble may burst and cause losses to many people who bought their property at the peak.
The best situation is a situation where the supply and demand for property is properly managed, so that the property prices will appreciate gradually with the economic growth, and excessive speculation is avoided.
I hope that the current enthusiasm in our property market do not get out of control.
Your concern is not invalid.
ReplyDeleteHowever, I am more interested to see how Hong Kong is tackling their property problem.
Hong Kong has simliar problem like Singapore though.