So technically.....it's impossible for the HKG market to really crash due to FINANCIAL reasons( unless off course, SARS or anything of that sorts returns)???
That's exactly why it will crash... financial reasons! Right now, there's lots of support keeping the HKG housing market up, but interest rates are low. When the interest rates in the US go up, you'll see a drop in HKG real estate prices. Personally, I wouldn't be jumping in as a first time buyer right now.