This is the right time to take profit on property investments, said Matt Nacard, head of property research, Asia at Macquarie Securities, especially across Asia where governments are looking to cool things down.
"Basically, it doesn't get much better than this. When you look at the quantity of money and also the the price of money pumped into the system, you're looking for pro property policies over the last 12 months. That will gradually change over the next 12 months or so. And clearly, it doesn't pay to buy the sector when news is very, very strong," Nacard said on CNBC's Asia Squawk Box.
We like Hong Kong from a developer perspective, Nacard added. "If you look at where developers are at the moment relative to where they hit in 2007, there's still a big gap there. And Hong Kong also has a bit of a hedge as well."
Chinese liquidity is driving the Hong Kong market but it's also got low interest rates driven by the U.S., he explained.
Nacard also likes India's real estate market as it is a "very, very early cyclical play".
"We haven't seen NAVs upgraded there like we have around the rest of the region, so India I think, looks particularly interesting also."