I tried googling it but I can't seem to find whats the average age for the first time home buyer in HK....
also feel free to tell me when did u first bought your own place and where =)
I tried googling it but I can't seem to find whats the average age for the first time home buyer in HK....
also feel free to tell me when did u first bought your own place and where =)
I'd bet it is quite old - simply because of the costs involved in owning your property.
Also consider that a large number of people still live in govt housing estates.
Mid 30's i expect is the average, it takes a while to save up for the deposit and after that you get a 20-25 year mortgage and your sorted. monthy you pay back the bank as you would if your renting a place. Its just the deposit part that holds back people from buying.
Google "average age for marrying" and you have your answer at least for those above the threshold for government housing, they need to wait a few years for their flat. It is really rare to move out if you're single, I know a few guys who are in their late thirties and stay still with mum and dad (one of them worked nearly ten years in the mainland, but when he was back to HK it was back to his old room )
well.. according to http://en.wikipedia.org/wiki/Demographics_of_Hong_Kong
average marriage for male =30 and female =27.
so i'm guessing people are buying houses at 30?.... it seems rather young comparing to UK or US... not to mention HK houses are much more exspensive.
I bought my first house in the UK at 25. I don't think that was unusually young. I didn't get married until many, many years later.
Last edited by PDLM; 06-02-2009 at 05:21 PM.
I thought that was rather common in the UK and US too (unlike Germany, where many people buy way later or rent their entire life). And hardly anyone buys a house here, technically. Freshly married couples would buy a 350sqft gross, 1br apartment in Tsuen Wan or Shatin for 800k-1million HK$. Are there cheaper places than this in the UK?