Property prices in HK

I have been paying rent for 10 years. On hindsight, I should have scrimped and saved to buy one seven years ago. Anyhow, the time has come for me to consider the million dollar question: should I purchase a property now, when prices are at their highest.

The diagram which I have put together with statistics from land register shows the price trend from 1982-2017. Drawing from histoty, a price of 30-40% could happen in a span of 1.5 years. Which means the value of a 347 sq ft flat could decrease from 4.1mio to 2.87mio (30%) in say 1.5 years. A monthly payment of 25k hkd/mth over a 1.5 year period amounts to 450k, which is not sufficient to cover the drop in value.

Would it be more prudent to adopt a wait approach and purchase when prices do drop? I can get more for less! Based on the cycles, it looks like a correction is due by end of this year and a sustained drop cycle will take six years to fully pan out.

Today's reflection post blood donation

¹⁸For I know that nothing good dwells within me, that is, in my flesh. I can will what is right, but I cannot do it. ¹⁹For I do not do the good I want, but the evil I do not want is what I do. ²⁰Now if I do what I do not want, it is no longer I that do it, but sin that dwells within me. ²¹So I find it to be a law that when I want to do what is good, evil lies close at hand. ²²For I delight in the law of God in my inmost self, ²³but I see in my members another law at war with the law of my mind, making me captive to the law of sin that dwells in my members.²⁴Wretched man that I am! Who will rescue me from this body of death?²⁵Thanks be to God through Jesus Christ our Lord! So then, with my mind I am a slave to the law of God, but with my flesh I am a slave to the law of sin.

I shouldn't have blamed the nurse today for my blood vessel construction.