This is a capitalist society. As long as there is demand there will be continued speculation. This is demand pull. Like stock market, as long as there are buyers, price will continue to go higher and higher until there is no buyer then sellers are forced to lower their offer price. As it is seller driven, we can see price spiralling down. Just that stock market is short term i.e we will see up and down in a few days time but property market, it may take years. Well, in Mallaysia, I agree property price has moved up significantly over the last few years. It it overheated or over priced overall, I personally don't think so. One can still get a property at reasonable price like a terrace house at RM360k in Puncak Alam, condo at around RM400psf in some areas. If one want good location and cheap price then it is like wanting a Miss Universe as your wife and yet will serve you faithfully like your well trained maid and is the daughter of the richest man in the world. Got such thing meh? Want good location, compete with others and pay more. Want affordable price, don't be fussy about location and quality of development and developers. Just my views! I fully agree with the durian theory as illustrated by Allan.