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How people survive in HK?

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  1. #1

    How people survive in HK?

    So a flat in hk is at least 4 million $$$
    It means that a young man who just finished his study starts working at the age of 24 with average income, and he lives with his family until he is 44 and finally buy a house with 20 years of savings, ? Anyone planning to leave hk because of this

    Last edited by Sahir798; 25-09-2017 at 12:32 AM.

  2. #2

    Join Date
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    So you understand why the youth of Hong Kong are so unhappy, disaffected and feel hopeless. And why they make up the bulk of people protesting at Occupy Central or the other marches and events around town.

    I'm one of the lucky ones who has a property (bought when it was more affordable), and also has easier ways out of HK (back to UK for example). But i certainly feel for the youth of today and support their objectives.


  3. #3

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    Well if you qualify for a public housing unit, then you would have a decent disposable income. I've seen a few late model mercs, BMWs, teslas at public estates.

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  4. #4

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    Well, I think there's a couple things you might have to realize:
    - The deposits are usually paid by their parents.
    - There's a government scheme where young qualified individuals has to only paying 5% deposit.
    - as big_panda also mentioned, public housing is an option for some.

    But yeah, I've seen pretty messy stuff where children fights each other for their parent's apartment when both parents passed away.

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  5. #5

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    It's not uncommon for bf and gf save together for their marriage which can cut the deposit savings time in half.

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  6. #6

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    Or, just join the majority world and accept that owning your own property is a rich man's privilege. Renting an urban property, however small, is still a step up from being a tenant farmer or indentured labour.

    Planning for "retirement" or even "future security" is very much a first world thing.


  7. #7

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    Not everyone needs to own. Look at NYC added with their taxes and higher interest rates. At least people have goals-- I'll say that.

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  8. #8

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    Sorry for being blunt folks-
    Since when did fresh grads wanting to own properties become a trend? I got mine at the age of 29 jointly with my partner and another just recently which also is jointly owned. If your family home does not offer privacy then do flat/room sharing, Work harder, make/achieve career goals and not moan about rising property prices.

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  9. #9

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    I don't think anyone is complaining that they can't get a flat right after graduation, it's that they might not get a flat before 50.

    Sahir798, Vix85, UK/HKboy and 2 others like this.

  10. #10

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    People's work situation should not be a constant. Specifically their earnings. Housing has cycles of ups and downs. There will be plenty of opportunities in the future. Plus most people should consider buying property with their partner/wife/husband anyway so that lessens the amount of money needed.

    Sahir798 likes this.

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