How much do you need to earn to live in Hong Kong? “You need to earn HK$280’000 per year to live in Hong Kong. This works out at roughly HK$23,000 per month,” says Jamie. This is the figure he shared with us when reflecting on his expenses for the year 2020.
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What salary is needed to live comfortably in Hong Kong?
You should allow for HK$30,000 to HK$50,000 (US$3,900 to US$6,500) per year for other living costs, including food, leisure, transportation, and personal items, depending on how extravagantly you plan to live.
What salary do you need in Hong Kong?
As of 2021, the minimum salary in Hong Kong is of HK$ 37.5 per hour (roughly 4.85 USD). Considering the average working week of 44 hours in Hong Kong, the minimum salary in Hong Kong is of approximately HKD 7425. The approximate amount in USD is 950. The average salary in Hong Kong is much higher.
How much do you need per month to live in Hong Kong?
Summary about cost of living in Hong Kong, Hong Kong: Family of four estimated monthly costs are 3,857$ (30,054HK$) without rent. A single person estimated monthly costs are 1,088$ (8,479HK$) without rent. Hong Kong is 19.59% less expensive than New York (without rent).
What is the average living cost in Hong Kong?
Family of four estimated monthly costs are 3,844$ (29,970HK$) without rent. A single person estimated monthly costs are 1,085$ (8,457HK$) without rent. Cost of living in Hong Kong is, on average, 14.80% higher than in United States. Rent in Hong Kong is, on average, 77.10% higher than in United States.
How much is apartment rent in Hong Kong?
The minimum rent in Hong Kong is about 15,000 HKD (1,900 USD) per month for a simple one-bedroom apartment further away from the center. If you wish to live closer to the center or rent a bigger place with more amenities expect to pay at least 20,000–30,000 HKD (2,550–3,850 USD) per month and more.
Is Hong Kong expensive to live in?
Hong Kong is no longer the most expensive city in the world to live in, according to rankings released by The Economist Intelligence Unit (EIU) on Wednesday, losing the top spot to Tel Aviv, as cities clocked the highest inflation rate in five years.
How much is the basic salary in Hong Kong?
At present, the minimum wage sits at HK$37.5 per hour and applies to all local workers apart from domestic helpers. The notion of raising the minimum wage is a fairly contentious concept, as many argue that it does more harm than good.
What is a healthy salary?
According to the census, the national average household income in 2019 was $68,703. A living wage would fall below this number while an ideal wage would exceed this number. Given this, a good salary would be $75,000.
How much is rich in Hong Kong?
More than 60,000 Hongkongers, or one in every 125 residents, have a net worth of at least US$5 million, making the city one of the most affluent in the world, according to a new report.
What is it like to live in Hong Kong as an expat?
Hong Kong is a fantastic destination for expats and their families, with wonderful food, a vibrant culture and so much opportunity. Just make sure you are well prepared, with a job offer secured, international health insurance prepared and an apartment ready to help you settle in quickly.
How much does rent cost in Hong Kong?
List of prices in Hong Kong Current as of Nov 2021.
| Food | Update prices |
|---|---|
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in expensive area | HK$46,026 |
| Monthly rent for 85 m2 (900 sqft) furnished accommodation in normal area | HK$30,346 |
| Utilities 1 month (heating, electricity, gas) for 2 people in 85m2 flat | HK$1,463 |
How expensive is rent in Hong Kong?
According to the report, prime rents in Hong Kong stood at $6.70 per square foot at the end of 2020, and a monthly budget of $10,000 would get a renter less than 1,500 square feet of space.
Is Hong Kong more expensive than New York?
Cost of Living Comparison Between Hong Kong and New York, NY
You would need around 64,825.12HK$ (8,311.08$) in New York, NY to maintain the same standard of life that you can have with 50,000.00HK$ in Hong Kong (assuming you rent in both cities).
Is Hong Kong more expensive than London?
Cost of Living Comparison Between Hong Kong and London
You would need around 51,088.47HK$ (4,917.95£) in London to maintain the same standard of life that you can have with 50,000.00HK$ in Hong Kong (assuming you rent in both cities).
Is it cheaper to live in Hong Kong or Singapore?
Cost of living: According to Expatisan.com, the cost of living in Singapore is 9 percent cheaper than in Hong Kong overall. This takes into account variables such as cost of food, housing, clothes, transportation, personal care and entertainment.
How much does a 3 bedroom apartment cost in Hong Kong?
How expensive is housing and accommodation in Hong Kong?
| Renting in Hong Kong | Average monthly cost |
|---|---|
| One bedroom apartment (city centre) | HK$16,551 |
| One bedroom apartment (outside of city centre) | HK$11,006 |
| Three bedroom family home (city centre) | HK$39,800 |
| Three bedroom family home (outside of city centre) | HK$23,426 |
What is the cheapest rent in Hong Kong?
The cheapest rent in Hong Kong: 14th floor of old industrial building in Yau Tong offered for HK$3.60 a square foot.
Is healthcare in Hong Kong free?
Because of its early health education, professional health services, and well-developed health care and medication system, residents of Hong Kong enjoy a life expectancy of 85.9 years for women and 80 years for men.In addition, Hong Kong’s public healthcare is virtually free to the individual.
Is Hong Kong English speaking?
English is one of the official languages in Hong Kong, and is used widely in the Government, academic circles, business and the courts. All road and government signs are bilingual. Those who spoke English or were taught English were considered the elite and upperclassmen.
Why is Hong Kong so expensive to live?
So why is Hong Kong housing so expensive? The most obvious reason is that Hong Kong is densely populated with over seven million residents living on just 1,106 square kilometres.With such low supply and high demand of living space, Hong Kong’s housing prices almost have no chance to come down.
