A graduate of the London School of Economics and Political Science, Shih said he considers himself an average Hong Kong citizen. His office is small and sparsely decorated, and he enjoys hiking and playing badminton -- hardly the pursuits of the billionaire set.
His modest upbringing has also helped keep him humble -- his father eschewed the elite international schools favored by Hong Kong’s wealthy and enrolled his children in local government-subsidized schools, and instilled his philosophy that money should be used to help the less fortunate from an early age.
He even worked as a real estate agent when he first joined the family business. “It was quite tough -- staying outdoors to compete with other agents for limited customers, rain or shine.”
And, like many other millennials in a city ranked the world’s least-affordable for the past nine years, he’s still saving for his first house.
Shih’s advice to his peers? Be realistic.
He aims to buy a two-bedroom apartment in a middle-class neighborhood in West Kowloon -- or the slightly more upmarket Ho Man Tin area if his parents chip in, citing those areas good public transport links and potential for price growth as draw cards -- a far cry from the multi-million dollar mansions his agency sells.
“The first home may not be the one you want the most. But at least you get on the property ladder and then you slowly climb up.”
This article was provided by Bloomberg News.