I totally dun agree with the statement, urbanization seems growing in accelerated speed everywhere, city's prime land in the whole world are scarce, there is no way back for land price to drop in prime area...looking at the upcoming high rise buildings in the pipeline (about 200 super tall buildings in Klang Valleys), landed property in KV will deem to be super super hot in future

it is not jacked up by seller. seller naturally demand high price. the valuer is lagging behind the market to protect the banks. valuer value lower does not mean that is the market value

It's already cooling down slowly.

1. Rental yield unable to catch up with property price.
2. Not enough expats to rent high end units.
3. Property values are higher than bank values, thus making selling props harder (LTV + under valued)
4. More projects and endless supply coming in (esp so called MK and KLCC area until 2015)

BBB mode will only continue for the rich, while the middle and low income will monitor and watch. This trend will continue until a point where the rich will no longer able to suck up so many units, and the market stagnant for a time. It only needs to take a little "trigger" to mess up the trend. Check on the transactions made after the LTV for sub-sale props. Thats why investors now whack developers units instead of sub-sale. Because it's no point to buy overvalued props, and rental yield can't cover. Pushing up the price further will only draw more hopeful buyers away.