Faith that interest rates would stay low forever fostered a “fool’s paradise,” according to former Bank of England boss Mervyn King. Nowhere is this more obvious than in the unraveling of the global real estate boom, which is now turning into bust as prices start to fall around the world. Fair enough: After so much speculation and overvaluation amid an undersupply of new homes, a healthy correction is exactly what a lot of societies need.
https://www.bloomberg.com/opinion/articles/...l-prove-painful

A recent deal offers a glimpse into what distressed sales can get. The Goldin Financial Global Centre sold for HK$5.6 billion to investment firms after two years of trying, way shy of its estimated value of as much as HK$16.5 billion.
https://www.bloomberg.com/news/articles/202...they-can-t-sell

SHANGHAI -- Prices for existing homes in China are tumbling even in major cities as an influx of sellers and a dearth of buyers undermine the once-unquestioned assumption that the market would only keep growing.

Zhang Li (not her real name), an employee at a Shanghai law office, experienced this downturn firsthand. Eyeing a move into a larger home for her four- and 10-year-old daughters, she put her Shanghai apartment up for sale last August for 4.98 million yuan ($690,000).

Though the 2004 property is on the old side, it sits in a good location a half-hour drive from Hongqiao International Airport and the major railway station nearby.

But the apartment failed to attract buyers. At her real estate agency's recommendation, she kept cutting the asking price by between 50,000 yuan and 100,000 yuan at a time. By the time a prospective buyer emerged in May, it had fallen to 4.46 million yuan.

"It finally sold after I took 520,000 yuan off the initial price," Zhang said. That forced her to borrow more on the mortgage for her new home.
https://asia.nikkei.com/Business/Markets/Pr...sellers-rush-in

NEW property price will not fall.
Sub-sale yes.
Like car, once you buy, the value drops ... esp condos.

If you buy for own stay it does not matter, but if you think to flip then you will regret.

Even rental market is bad as it is oversupply now.

Actually if you have extra properties, better sell it (since bank charging you  5%) then put the money in FD/dividend stock, else then you go to rent instead ... you will earn ... that is how bad.

Interesting but define prime area with new landed homes?

Poorperly is illiquid, price doesn't crash like stock, BTC or commodities but takes years to bottom. As most bought with leverage, price stagnant or rise shower than loan interest and expenses incurred is a financial losses.

The reality remains most of those bought post 2013 are likely underwater, and if keep holding, losses is likely to widen in the foreseeable future.

You are wrong.

Poorperly development from acquiring land, designing, applying for development order, planning permission, construction, etc to VP take a few years. Poorperly oversupply could be known a few years in advance but many were blinded by greed.

According to data, there are  currently more home than households in KV. Oversupply will likely takes years to digest.

this country is not sg nor PRC.

When basic car cost RM 1m,  USD 1 > RM 100.

Contemporary history is available for reference, don't need to dream.

Have you ever hear r.e agents is not upbeat of next year poorperly market?

Boss, any luck in finding your landed Subang property?

Glenmarie Shah Alam seems like a nice area also for landed and near to PJ

Not true, just that no point sharing.

Until poorperly overhang is reduced substantially, price will remain suppressed.

most of those bought in the last 10 years are underwater.

Take yourself as example.

That feller been sprouting nonsense and thinks he's like some oracle.

Let dog fuck lah

unless one is realistic, reality is often disappointing.