Re OTP; you mentioned some that are not able to complete purchases and losing deposits.
I thought we were talking about those that own property, whether or not they will sell...???
"The fact is the majority Chinese buying these units are average people just caught up in the property fomo and because everyone else is doing it. If things get tough or start dropping people many people want out because it's emotionally difficult to feel you are going backwards on an investment"
Your theory that after going to the trouble and expense of purchasing a property in a foreign country and paying the associated costs, that they will simply sell because the boom is over is IMO incorrect. Do you actually believe that these buyers expected the boom to go on forever? That they do not understand cycles? That they went to all that trouble for a quick buck?
They have invested in a country that they believe is safe, secure and economically prosperous.
They will be fully aware about our forecast population growth.
We are all entitled to our opinion.
Mine is that the majority will not sell out as they want to own property here. Plus the costs of selling and re-entering make the risk of doing so higher than holding for the long term.
In fact this applies to most property owners. Again, LONG TERM game. This is not the share market.
Obviously anyone who is over leveraged, regardless of nationality, may have no choice, but this is not the discussion at hand.
