Classical economic theory, grounded in the equilibrium between supply and demand, often overlooks the influence of irrational behaviour and investor sentiment, leading to deviations from housing fundamentals. Through an empirical analysis, this study will try to elucidate the underlying supply-demand imbalances across various classes of high-rise residential properties in Hong Kong, shedding light on the influence of sentiment on market dynamics. The study period encompasses diverse market conditions, including periods of both bullish and bearish sentiment, pre- and post-pandemic. Furthermore, it will underscore the multifaceted nature of housing issues and emphasises the critical role of government intervention in shaping market outcomes. By providing insights into the intricate dynamics of the housing market and the impact of sentiment, this study contributes to the existing literature by offering practical implications for policymakers and stakeholders with the ultimate goal of fostering prosperity and stability in Hong Kong's housing sector.