Property is a cyclical phenomenon due to overall economic cycle. The property market plays a vital role in the Hong Kong's economy. A large proportion of assets for many households are belonging to housing. In banking sector, more than half of mortgage loans are credited for the purchase of the private residential properties and loans for construction companies and property development.

The Asian financial crisis was triggered in 2008. By the fall of 2008, the value of property market in many places decreased dramatically by around 30 percent to 40 percent. All people learned a lot of valuable lessons at the Asian financial crisis of 1997 and SARS in 2003. I think that golden opportunity comes. The monthly rental payment is almost equivalent to the monthly installment. Many bankers are still offering attractive mortgage packages to prospective investors and customers now. It is a good time for tenants to find their ideal homes.

I note that there have been a lot of transactions in some areas e.g. Shatin, Ma On Shan and Junk Bay etc at the end of 2008. I predict that Sai Kung, Silverstrand and Clearwater Bay will remain active in 2009. Hong Kong's economy will continue to forge ahead in coming years.