One other consideration: at the moment you may be planning 10-20 years but circumstances change. It may well happen that after 3 years, 5 years, whatever you or your family may decide that it is time to leave. Owning a property means that may be difficult. Can you sell it? For how much? How quickly?
I've noticed that many guys here find themselves fed up after about 5-7 years. Some leave, some stay.
Others have mentioned the high interest rates, higher downpayment, etc. The other issue is maintenance fees. Most properties have monthly fees. Those fees are controlled by the developer and, since they are not making money selling at the moment those fees have been going up. It is not uncommon to see increases of 50% or more!
This business (and country) are essentially unregulated!! The big firms set policy, have the ear of the government (if not owned by the government) which leaves you and the rest of us at their mercy. This is not me being negative but telling the way it is. The corruption is a fact of life.
As an example, in one of the big developments here the owner will be taking over the maintenance and operation (basically the condo corp). But guess what---the developer designed the initial contract, signed by the buyers, which states that the developers maintenance company is the only company that can contracted.
Anyway, once here you will see what we are writing about.
In the end, based on the research I have done it would take a good 15 years (closer to 20) to make a purchase worth it. For that time frame most people are better off staying in housing!