86% of Hong Kong home buyers think local properties are overpriced

But here's the flip side.

In a release, GoHome.com.hk, announced the results of the Hong Kong property market sentiment survey for the first half of 2014.

86% of total respondents consider properties to be overpriced while 95% of non-property owners share the same view. In spite of this, there is a surge in the number of respondents (38%), who believe property prices will drop.

The survey shows an improvement in buying and selling sentiment, marking a reversal of the trend observed in previous surveys. The government introduced a series of measures last year to address property demand. In examining this move, the survey reveals that 43% of respondents hope the measures would continue to be implemented, while 30% desire the introduction of more stringent measures.

Low income families expressed the strongest support for the latter. In response to a series of stamp duty measures introduced by the government, developers have begun offering attractive discounts to buyers to boost new property sales. Reacting positively to these promotion offers, 40% of respondents said they would consider making a property purchase.