Parents in Hong Kong who own their property outright are likely already millionaires, even if it’s just a small one-bedroom apartment. However, younger generations like millennials and Gen Z are facing a significant financial burden due to the extremely high property prices. Many of these younger owners are struggling with long-term mortgages at high interest rates, making it difficult for them to move up the social ladder. This rapid urbanization means that younger individuals are unlikely to accumulate the same level of wealth through real estate as their parents once did.
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