Karamjit Singh

Prices have come off substantially and it's probably the one segment of the market that's facing some degree of distress, all in all prices have come off 20% to 30% from their peak in 2007.

It has always been compared with Hong Kong and there are a lot of parallels. But it's trading below half of Hong Kong's real estate prices in the luxury market, there are a combination of factors (for this) but the key central would be government policies and a very focused glut of supply focused around the luxury market.