Buy or Rent?

a sell flat

Property market goes crazy here.  Price keep boosting to a sky high level.  But still most people would like to have their own house.  Well, should say flat or apartment.  Houses here are for rich people only.  Most people can’t afford any houses. 

Hong Kong is so small.  Not much flat lands, mostly mountains instead.  So a well-known concrete jungle.  Full of high rising building.


People work hard in their entire lives for an apartment.  Apartments are small here, around 700-800 square feet.  30% down payment for buying a flat.  The rest with bank mortgage which pay up in 20 years.  It do sound terrible.  Most of income goes to mortgage.  Still, people don’t like to rent a flat as they feel like helping others to pay the mortgage. 

All my friends suggested me to sell my small place.  Well, still under mortgage.  But the price boosted to double.  I can never save that amount of money by working hard as a small potato.  I love my small messy place.  But I do need money as well.  Especially, I don’t have saving.  Have to prepare for retirement life lol .  Yes, old enough to think about it.  I can start up something new if I sold the flat.   Might be going to somewhere else….. 

So sell the flat or keep it.  It bothered me.  Mid life crisis here!!!!


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