Three or four decades ago, it was the norm for young Hongkongers to start saving up so they could buy a flat as soon as possible, then sell it later and move on to a bigger and better place as their income increased.
For most young people today that is just a dream. No matter how much money they save, it is unlikely to catch up with the soaring real estate prices. It's not surprising some young people are thinking ahead and making the only logical move: applying for public housing.
According to the Housing Department, there were about 22,000 applications for public housing by 18- to 29-year-olds this year as of May. The figure represented a 28 per cent increase from last year and the highest-ever number of applications by single people.
James Liu Chih-kit, a Year One student at Baptist University, plans to apply for public housing - the first step on the way to eventually owning a flat.
'My mother told me that real estate prices in Hong Kong are going up so quickly ... it is extra tough for young people to buy a flat,' he says, adding that he is applying as early as possible so as to reduce the waiting time.
A points system introduced in 2005 gives lower priority to younger applicants - no points are given to those aged 18, with three points for every year above 18.
Liu says public housing is his 'starting point'. He says: 'If I have public housing, it will be easier to apply for Home Ownership Scheme flats as opposed to non-public housing residents.