In my workplace in HK practically everyone has cashed out of their property investments (sometimes with profits in excess of 4-5 million HKD). No-one is seriously considering buying and their income would be in the top 1-5% in HK. They're effectively feeling priced out. Hong Kong property cannot continue to rise. The only purchases now are from people trading up/sideways having made a profit on their recent sale. The only possibilty is stable prices/ low sales for a number of years as wages inflate. This, IMO is unlikely to happen and a 20%-30% fall is nigh on certain for the next year+.