You should allow for HK$30,000 to HK$50,000 (US$3,900 to US$6,500) per year for other living costs, including food, leisure, transportation, and personal items, depending on how extravagantly you plan to live.
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Contents
What is a decent salary in Hong Kong?
The average salary in Hong Kong is much higher. It is also a good figure to base you research on, if you are coming to HK as an expat. The current average salary per month is 19100 HKD (2430 USD) for male workers and 14700 HKD (1875 USD) for female workers.
What is the average living cost in Hong Kong?
Family of four estimated monthly costs are 3,851$ (30,037HK$) without rent. A single person estimated monthly costs are 1,087$ (8,477HK$) without rent. Cost of living in Hong Kong is, on average, 14.98% higher than in United States. Rent in Hong Kong is, on average, 76.53% higher than in United States.
How much do you need a month to live in Hong Kong?
Summary about cost of living in Hong Kong, Hong Kong: Family of four estimated monthly costs are 3,857$ (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).
How much of your salary should you spend on rent in Hong Kong?
around 33%
According to experts, you should only spend around 33% of your salary/income on rent.
How much is an apartment 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.
How much does a maid earn in Hong Kong?
As effective from 1 October 2021, the government has set a Minimum Domestic Helper Salary of HK$4,630 per month which the employer has to pay to the foreign domestic helpers.
Is Hong Kong more expensive than New York?
Cost of Living Comparison Between Hong Kong and New York, NY
You would need around 64,825.12HK$ (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).
What is a good expat salary in Hong Kong?
The average cost of employing a mid-level expatriate employee in Hong Kong cost a company US$284,466 (HK$2,231,611), including an average cash salary of US$88,126 (HK$691,344). Expat packages include three main elements: the cash salary, benefits (such as accommodation, international schools, or cars) and tax.
Is housing expensive in Hong Kong?
Hong Kong has the most expensive housing market in the world.Hong Kong has the most expensive housing market in the world. Rent is so high, many can only afford to live in subdivided apartments known as “coffin homes.” But the problem isn’t land scarcity.
Why is it so expensive to live in Hong Kong?
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.
Is electricity expensive in Hong Kong?
For comparison, the average price of electricity in the world for that period is 0.135 U.S. Dollar per kWh for households and 0.123 U.S. Dollar for businesses.
Hong Kong electricity prices.
| Hong Kong electricity prices | Household, kWh | Business, kWh |
|---|---|---|
| Hong Kong Dollar | 1.170 | 1.135 |
| U.S. Dollar | 0.150 | 0.146 |
What is average rent in Hong Kong?
In 2021, the average monthly rent for public and private permanent housing in Hong Kong’s New Territories was 66 Hong Kong dollars per square meters.
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 |
Is it cheaper to live in Hong Kong or Singapore?
Singapore overtakes Hong Kong as most expensive place to live in Asia.
Can a foreigner buy a house in Hong Kong?
Yes – unlike some countries, Hong Kong allows foreigners (with the exception of a few nationalities) to buy properties in Hong Kong and rent them out without restriction.
Where should I live in Hong Kong?
The best places to live in Hong Kong
- Wan Chai. Wan Chai is a cross between a major commercial district and a trendy residential area.
- Mid-Levels.
- North Point.
- Repulse Bay.
- The Peak.
- Happy Valley.
- Jardine’s Lookout.
- West Kowloon.
How much is a Filipino maid in Hong Kong?
The Costs
Part-time local helpers are available from around HK$85 an hour (try the Smart Living government programme). For full-time, live-in maids you need to budget at least the minimum wage of HK$4,630 per month (as of September 2020), but many expats pay more.
What is the minimum salary in Hong Kong?
HK$37.5 per hour
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 the salary of DH in Hong Kong 2020?
The Government announced today (September 27) that the Minimum Allowable Wage (MAW) for foreign domestic helpers (FDHs) in Hong Kong will be increased by 2.4 per cent, from $4,520 to $4,630 per month.
