PS : don't forget to factor in the housing allowance..depending on your package and company the fact is this is money you are investing which you would otherwise be spilling down the toilet on rent. Do your sums you may find you can afford property to go down eg 20% more over x months or years and you stlll break even AND have a
home rather than be paying off someone else's asset with your rental allowance.
Look at the quality of life of those who are advising you and their values. Often the ones who didn't invest wisely will shout "you are crazy to buy when you are buying mate" then when prices go up they will say "sell ow coz the bubble will burst" then if things take a downturn they will clap their hands and justify the fact the have "lost nothing". If you think this is a good way to live ones life....bend their ear, or find those who come over make the best of their packages stick their necks out and regardless of economic potential trends at least are not scouring the headlines for bad news everyday and have lived a life as well as been an expat.
I think Buffet said...be greedy when everyone is fearful and be fearful when everyone else is greedy. 