28 Oct '16, 8am

#singapore #property Two in three Asian millennials still living with parents: Two in...

High property prices in the region are preventing millennials from buying their own home. Two in three young adults in Asia Pacific aged between 22 and 29 are happy to live in the family home until they have the financial capacity to live independently, revealed a CBRE survey. CBRE attributed this mindset to “cultural practices in Asia, where parents usually house their sons and daughters until they get married”. The results showed that India and Hong Kong have the highest proportion of millennials still living at home, while Australia has the lowest. High property prices are also a major factor preventing the region’s millennials from leaving home. “Surging property prices are outstripping wage growth and making it extremely difficult for Asia Pacific millennials to accumulate the necessary capital to buy their own home. Most respondents said they are forced into renting ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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