So, your loans and mortgage go some 20k over your housing allowance?
From what you've said, it sounds no different to anyone else who has a good salary spanking it all on a mortgage.. Such is life.
I do hope your upgrade comes soon, and the attributable increase in pay. I'm sure the short term sacrifice will turn out to be worth it.
Far too many of us make the same commitments. It doesn't, however, negate the need to take responsibility for living within your means. We all know that housing in HK is annoyingly expensive, but it's not something you can disregard when setting the bar for your repayments.
I had a long chat recently with a good friend who's a third year local SO feeding a family of 4, who lives in a nice place (granted, 25 minutes from central) with an amortization payment of 22000 a month. He has upwards of 20k a month left over after tax savings and the mortgage. This is on his basic + HKPA, and is in addition to HDP or anything else, which would suggest you've bought in to an extravagantly priced place. I hope it performs well for you.
I understand that you're money doesn't go far on property in HK, but what can you do? I presume your place is very nicely located? Everything's a trade-off. By the same token, a family member of mine is a young doctor in NYC - has a gross of US11k a month, has a maximum determined budget for rent, and consequently lives further out of town, in order to get somewhere decent for her budget.
I fail to see the issue? What most people on this forum seem to possess, is a sense of self-entitlement; that we shouldn't be subject to normal economic laws and practice, seen across all industries in large cities around the globe.
Sorry, but a lawyer in London, during the first decade of his career at least, has the choice of a !!!!box in the middle of it all, or a decent place outside. An accountant in London, the same, a Dr in Manhattan the same. An architect in Singapore, ditto. Why should a junior CX pilot have the God-given right live in a lovely place, and have that place be in the centre of everything?
If tax savings are having too big an impact, move over to the sand. Tax-free lifestyle? Free accommodation? How luxurious! Just be sure not to look at anyone the wrong way, or give anyone the impression that you and your wife are happy together.
Let's get real, folks. There's a key reason HK is so expensive - people want to live there, and people want to do business there. If you want a nice big house, and not pay through the nose for it, might I suggest Burkina Faso?