Inside the Lives of Hong Kong Millennials Property Woes, Political Shifts, Competitive Job Markets

80% of millennials in Hong Kong are still living with their parents. Yeah, you heard that right! It's like a never-ending family reunion over there. But what's behind this trend? Well, stick around, and we'll uncover it.

Meet Ken Ho, the poster child for Hong Kong millennials. He's 33, works as a vice president at a venture-capital firm, and is making big bucks, earning around 1.5 million Hong Kong dollars a year. That's roughly $191,000 in the bank. But here's the kicker, even Ken can't afford to buy a home in Hong Kong. The property market is wild, folks!

Now, let's switch gears to Summer Ng, who's living with her parents in a 709-square-foot place. She's an events organizer, and while she makes HK$22,000 a month, she's still a long way from owning her own home. "Property slave" is the term she uses, and it's not uncommon in this city.

But don't think Ken and Summer are the outliers. No, no! This is the reality for most Hong Kong millennials. They're part of the 20% of the population born between 1980 and 1994. And don't forget, they're the last generation born before the handover of Hong Kong to China in 1997. That's some history, right?

So, why are they staying put with their folks? Well, property prices are astronomical, and the average millennial salary doesn't quite cut it. Most of them can only dream of affording a home without help from family or friends.

But don't get the wrong idea; these millennials are savers! Aniqah Bhatnagar, for example, saves 60-70% of her salary. That's impressive! And it's not just about buying a home; they're saving for the future, be it retirement or that dream vacation.

Now, let's talk politics. The Hong Kong protests of 2019-2020 had a huge impact on this generation. They saw changes in freedom of speech and news, and many felt disconnected from the nationalism that swept the city during that time. It's all made some millennials like Aniqah look elsewhere, like Singapore or Sydney, for their future.

But here's a twist: unlike European millennials who are open to moving abroad for opportunities, Hong Kong millennials are pretty localized. They love their hometown, and even moving to mainland China isn't on their radar. They're all about local opportunities, education, and the environment.

And the job market in Hong Kong? Competitive doesn't even begin to cover it. With overqualified millennials and a highly competitive job scene, it's tough out there. The average salary in Hong Kong? Well, let's just say it's not keeping up with the skyrocketing living costs.

But here's the cherry on top: raising kids? That's a whole new challenge. It's expensive, and financial security is priority numero uno. With high property prices and the cost of living, many are putting off starting families.

So, what's the bottom line? Hong Kong millennials are a unique bunch, facing property woes, political changes, and competitive job markets. They're focused on saving for their futures and are holding off on those baby strollers for now.

If you found this dive into Hong Kong millennials as intriguing as I did, don't forget to like, comment, and subscribe. This has been Rob, your curious host, signing off as Rob the ignorant entrepreneur."

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