QUOTE(Pai @ Apr 5 2008, 11:45 PM)
Abarai, care to elaborate what do u meant by a "property correction"?
How many drop are you expecting from this correction?
if i can tell you that, i'll be rich!
seriously, i doubt anyone can give a precise answer to that, analyst or not. but property prices all over the world has been correcting in some degree over the past year. starting with the biggest bubbles like US and Britain, now working it's way to smaller one like HK and SG. Msia in a sense, is lucky, becoz we were rather latecomers to the property party, and that too in quite specific segments like the upper-middle and high-end side of things (KLCC area for eg). so common sense will tell you that if a particular property hasn't really risen much during the past few years, it is also unlikely to fall much even if there's a slowdown.
i've read in another forum that KLCC prices recently has stagnated and some ads has already appeared which puts prices per/sqft at less than that of say 1 month ago. however, it's still much higher that the launch prices, so these investors/speculators are not really selling at losses yet (unless they were suckered into buying at the absolute peak). that's why still too early to say if it's a clear correction yet.
property is just like other investments, sentiment driven. so if enough ppl think prices will fall further, ppl will hold back and it will likely become self fulfilling.
so, if you're looking at property as an investment, i think better wait and see. but if you're looking for a home, then don't bother timing the market, just find something you like but keep it affordable and keep your gearing in check.