Perhaps freshly off the blower with Highrise Harry, Gottiboff explores some COVID-19 scenarios today. If it is stopped he says:
…On the weekend I was yarning with a Hong Kong resident who has temporality switched his base to Australia. He tells me the coronavirus is far more destabilising than the riots and a great many Hong Kong people are now dusting off their exit plans. Expect greater migration pressure from both Hong Kong and China once the crisis is over.
That will create a higher dwelling demand at a time when the market is already booming. First home buyers are back. We are looking at a severe shortage of dwellings in many areas, and that balloons prices. The looming housing shortage was created by the credit squeeze which triggered a severe drop in building. So now the higher demand threatens to explode the market because of the supply shortage.