With the fast-moving nature of the property market, it is all too easy to focus on the short term. The central government's policy tightening has led to mainland property investors being less forthcoming, leading to some experts worrying that this source of investment may be shrinking.
However, one incident has reminded me of the importance of a long-term perspective. At an event featuring Canto-pop legend Sam Hui, when he returned to his alma mater, the University of Hong Kong, Hui spoke of his childhood poverty when he had to work five days or nights a week to pay his fees. Eventually, he made it to the top and his story is symbolic of Hong Kong's success. It took this city hard work, and decades to become a world city. It did not happen overnight.
China's success story is only just beginning. While there may be hiccups, the economy has a long way to grow. With Hong Kong being the mainlanders' preferred place to shop, whether for property or other luxury items, it is premature to pronounce the end of mainland demand.