I made a error in my calculation, and I think I need to point it out. Thank you to Chan Yuan, who leave comments that alert me to the error and generate more discussions. My apologies. Will be more careful with numbers.

I mentioned a growth rate of 2% on non resident population with means 320k more residents every year. The correct figure should be 32k
I also state there is a supply of about 30k units without buyers in the pipeline, that will come on the market over the next few years.
There is also a link provided by him.
Of which he think only 25% of the residents will get a unit. I assume he use EP, S pass and students.
It is a significant error as the verdict is different. In my original post, I think 30 k surplus over a few years …