CX Housing
The housing scheme is the only thing worthwhile about CX right now in terms of pay. The basic pay you get is crap in terms of your home currency (GBP, EUR, CHF, AUD, NZD, CAD etc). And with the demise of the USD, it won't be getting better any time soon. Also, inflation is on the rise here in Hong Kong. Food prices are up, house prices are up and transport prices are on the rise too.
So the 2 options are to rent or buy. If you rent, then you need to wait 2 years to get a decent enough allowance to get something even close to what is comfortable - especially with a family. Unfortunately it is dead money though.
If you buy, then there are a few considerations. First, you generally need to come up with 30% deposit. That's alot of money on a 9million dollar home. Sure, you might be able to sort out another option(personal loan, cooperative bank etc), but that's another story. Secondly, don't forget the stamp duty. That can be 250k or more on that 9 million dollar property. Thirdly, because the housing allowance is paid as a cash allowance, it is fully taxed at 15 or so %. This you need to account for as it will come out of your basic pay - not the allowance itself. Lastly, you are at the mercy of the property market. That entails a mixture of luck, balls and timing. There is potential to make a bundle of cash, But there is also the risk of being in negative equity too. So between the 30% deposit, paying tax on the housing allowance and paying the stamp duty out of your own pocket, the concept of CX paying a property off completely for you is a myth. Sure you can make capital gain, but the timing has to be right.