1. Talk to the people who actually live on boats. There are many of us.
2. Yes it is expensive - but if you dont have the cash for a flat it is still much better than renting since you are using your housing to pay of an asset as opposed to your landlords mortgage...
3. It is a fantastic lifestyle. Lots of SPACE!! Quiet. Calm. No jackhammers EVER. No concrete. No elevators. Natural environment around you. Nice neighbours. Lots of kids. Its by far the best quality of life for the money. The equivalent in a landed property would cost a lot more.
Privacy is not an issue - you dont share walls with neighbours and never hear them. And if you dont want to see them you close you blinds. Bedrooms are halfway below waterline- dead quiet, and totally private and a little dark due small windows. But i find that and advantage for sleeping in the daytime.
4. Nothing is perfect - there are some issues. Firstly the supposed issue with it being a pleasure vessel and therefore you don't "legally" live on it is nonsense. The marine department has no problem with the amount of time you spend on you pleasure vessel.
Secondly the helper issue is real. If you have a helper she cannot legally stay on your boat. It is being pursued. Hopefully can be resolved.
The DB marina club debenture renewals are Dec 2018. This will cost some money. Always has. The debenture value goes up accordingly. Its still you money and you sell it on when you go. These are still some of the cheapest debentures in hong kong. Most likely it will be a non issue just like in the past.