i've lived in two village houses in hk. personally, i think they are the way to go (as do most of the people living in sai kung!). you get a LOT more bang for your buck. and while occasionally i miss having a communal swimming pool, i would rather spend the money on more space for us. we have 5 bedrooms, 4 bathrooms, over 1000' garden, 2 free car parks and a rooftop. because we use the ground floor of our house for our dog boarding business and the dogs have the entire garden for themselves, we still have the rooftop for the family. we just got an 8' trampoline and put it on the roof. there is still 3/4 of the roof top empty, so we could bring our bbq up and set up a paddling pool there and STILL have space! we don't pay any management fees (which you would if you lived on an estate). so all of our monthly rent goes to just that... rent.
how do you meet people? well, we know everyone in our village by name. 95% of them are expats. we meet the parents of our kids' classmates and meet people at the gym (there's a curves gym in sai kung). just like you would anywhere else.