You have to prepare about HK$1.26 million to buy the flat. I think you should enter the market now. We saw the prices of two-bedroom flats rise sharply in recent weeks. The price of a HK$4.2 million flat would grow to more than HK$4.4 million in the coming six months. You will have to pay more for the flat and the cost would be higher than your expenditure for the second mortgage.
Patrick Chow is the head of research at Ricacorp Properties
The prices of the new housing estates would be out of your budget. Palm Springs would be a better choice for you. Though the housing estate is old, the property price growth is in line with the other housing estates. It would be a good investment to buy a house at Palm Springs as the future supply of houses is tight. Most of the new supply will be apartments. That's why new villa projects have recorded strong sales in recent years.