[xavils]

Basic current assumptions (approximate):

- Boom 10 years - Recession 5 years

- Initial property price, rounded current price in city center for 2bdr in each city. Hong Kong is a little bit too expensive but I currently live there and it's so expensive that it had to be exagerated.

- The 20% you need to buy and 40 year mortgage is how the property sector was working until 2008 in my hometown, Barcelona, before the recession.

- Mortgage rate is 3%

- Rent you receive is around 7% of property value annually

- Inflation is +4% annually during boom and -6% during recession

- Savings return is around 1% annually

- owned property devaluation happens during 15 years until it reaches a minimum and then keeps up with recession/boom cycles