Where are prices going ?

Could you tell me where the two new towers re being constructed as I am not aware of these?


I live in Gold Coast and they are certainly marketing the location to the max at the moment. However I note on transacton websites that price per square foot remains between 2000-2500.


There is certainly plenty of supply in the region.

The rents in HK side seem to be going crazy.

Especially for the larger units.

In the past the Americans were the ones with the big budgets, however, supply has decreased because of buyers from the Mainland snapping up luxury units.


People keep telling me that as long as China remains "hot" there will be increased demand for the larger units because people want access to the

China Market.


It will take a while for the market to "correct" because once the big landlords raise their prices they are very reluctant to lower them quickly unless we have something like SARS or a major economic downturn.


Many of the properties are controlled by the big property tycoons. They would let a place stay vacant for months rather than accept a price decrease.


I think rents will go up a further 10-15% within the next 12 months. The prices for the luxury market will also put pressure on the mid-size units as some people downsize because they cannot afford the new price increase.