At just 27, Mr Krit Raksajit owns a three-storey house in the suburbs of Bangkok. And while some might envy his position, the office administrator is in fact regretting his decision to purchase a home.

“The housing and renovation loan payments, they’re soul sapping,” said the young Thai, who spends more than a third of his 35,000 baht (S$1,360) salary paying off the mortgage each month.