Many buyers are choosing to acquire properties now, fearing that prices may surge in the coming years. As a result, demand in future could drop even more than expected leading to an oversupply, said Wing Tai Chairman Cheng Wai Keung.
"On top of that if the economy is not so good at that time, it will compound the problem." He added that the current housing cycle has exceeded his expectations.
"The effects of five rounds of property cooling measures have been short-lived. And despite the fact that the government has increased supply for so many years, the property market has not subsided. This means the pent-up demand is more than I expected," noted Cheng. Full story
