I agree that properties will never depreciate.
But never in history (Malaysia's at least) had properties' prices increase in such magnitude(30%-70%) in a span of 2-3 years, while salary is stagnating.
Some may argue that with household income of 10k-20k, properties are still affordable. But let's be real. Are they the majority??

I have always believed that fundamentals will always have a final say.

And from another point of view, if this speculation, or appreciation(as most of you of prefer to believe) of properties prices is to continue, do you think the majority who could not afford a house will just sit back and just reflect at their misfortune??

Do you guys think the government have learned nothing from Tunisia and Egypt?? People's hardship = government's downfall. And bear in mind that majority of our people still think 'crutches' is a privilege of theirs. Bet your life that government will intervene.

So start looking at things in macro.

Just my 2 sen.

Haih.. Why is the party dying down?
I really hope for this buy buy buy party to last for another year or two.
By then, most ppl will be buying a normal 20x70 for a million+.
And most probably the 'high income group' will still be bringing 3k home a month.
I'd really like to see who the hell all this speculators gonna sell their props to.