Q & A with our experts, April 10, 2013
You could consider Belair Garden in Sha Tin, Sunshine City in Ma On Shan or single-block residential buildings in Tai Wai. They could meet your budget. But the size of three-bedroom flats at Sunshine City is only about 600 sq ft.
The rent for a two-bedroom flat in Heng Fa Chuen is about HK$16,000. Or you can try a one-bedroom unit in Grand Promenade in Shau Kei Wan, where the asking rent is about HK$14,700. The unit size is 436 sq ft in terms of gross area, or 314 sq ft in terms of saleable area. You can also look at Kornhill or Kornhill Garden flats in Quarry Bay, where there are more choices.
It is true that the property prices have started to decline. The value of some of flats is 5 to 10 per cent below previous transactions. However, most homeowners are not willing to cut their asking prices because their mortgage cost is low.
I think property prices will only decline by 5 to 10 per cent, as mortgage rates remain low. I don't think they will drop 15 to 20 per cent unless the United States raise interest rates. If the asking price of the flat is 5 to 10 per cent below its previous value, you should consider buying the flat.
