Hong Kong property: time to buy or bail?

Like so many things in Hong Kong, be it the stock market or the dating scene, the city’s property market has a speculative feel to it, seemingly dominated by players who are out for a quick punt rather than with the intention to buy-and-hold. And, for those who live in Hong Kong, expensive rents and spiralling property prices are simply a part of life in the city, much like the smog.