The property market is of course vulnerable.
But in recent times, unlike 97, it has not been the domain of speculators. There was more return on the stock markets for gambling.
The figures for outright home ownership in Hong Kong are staggering if you are from the West. The fact that most of the remainder have less than 6 years to run on their mortgage equally staggering.
Mortgage stress seems to be a Western phenomenon brought on my high consumption and borrowings.
A modest to moderate correction is my prediction. I have a feeling Hong Kong property may be as safe as houses......
My HSBC valuation hasn't changed???? Confirmed by phone. Not that this means much.