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How much should you spend on rent Hong Kong?

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.

Is Hong Kong more expensive than New York?

Cost of Living Comparison Between Hong Kong and New York, NY

You would need around 64,991.16HK$ (8,331.93$) in New York, NY to maintain the same standard of life that you can have with 50,000.00HK$ in Hong Kong (assuming you rent in both cities). ... Do you live in New York?

Is food in Hong Kong expensive?

While meal prices in Hong Kong can vary, the average cost of food in Hong Kong is HK$205 per day. Based on the spending habits of previous travelers, when dining out an average meal in Hong Kong should cost around HK$82 per person. Breakfast prices are usually a little cheaper than lunch or dinner.

How much is a 2 bedroom apartment in Hong Kong?

For somebody thinking about moving to Hong Kong, a 2-bedroom apartment would cost more than $3,700 per month to rent on average.Jul 11, 2018

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How does rent work in Hong Kong?

A rental lease in Hong Kong typically runs for two years. ... Finally, before you can move in you must typically pay one month's advance rent, plus a security deposit equivalent to two months' rent, which will be returned upon the end of your occupancy.

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Is Hong Kong affordable to live?

Foreigners may think that, in a bustling metropolis such as Hong Kong, life doesn't come cheap. ... 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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How much should you spend on rent Hong Kong?

According to experts, you should only spend around 33% of your salary/income on rent.

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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.Apr 30, 2020

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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.

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Is it cheap to live in Hong Kong?

Foreigners may think that, in a bustling metropolis such as Hong Kong, life doesn't come cheap. ... 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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Is it easy to get job in Hong Kong?

It is relatively hard to get a job in Hong Kong. The employers are picky when choosing foreign workers and fill visa application. The workers need to meet strict qualifications to land a job, and the employer needs to prove that they cannot pick a local resident for the job instead.Jul 3, 2020

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How much does a 2 bedroom apartment cost in Hong Kong?

For somebody thinking about moving to Hong Kong, a 2-bedroom apartment would cost more than $3,700 per month to rent on average.Jul 11, 2018

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What is a good salary in Hong Kong?

What is a good salary in Hong Kong? - Quora. I agree with some of the analyses below, although I would add that the median salary (as opposed to average) of HK is around HKD 16,800 as of 2018, which is about the salary an average university grad makes. The top 10% earns around HKD 40,000+.

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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.Nov 21, 2019

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Where can I rent a property in Hong Kong?

  • The above rental or sale information is provided by the hong kong property agency Landscope Real Estate Services Ltd or its sister companies, a premier real estate agent specializing in realty, residential property for rent and sale in Hong Kong. Looking to rent a flat, buy a flat or list property? Please call us at +852 2866 0130.

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How much does a 3 room central apartment cost in Hong Kong?

  • 3 rooms Central apartment 700 SQ ft. $18,000 per month walkup 3rd floor Non furnished Agency fee required C-076378 Whatsapp +852 60232006 3 rooms Central apartment 700 SQ ft.… 18,000 HKD/Month 700 m² / 7,535 ft² 6 3 rooms Central apartment For Rent> Apartments in Hong Kong

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What are Hong Kong apartments like for expats?

  • Hong Kong apartments range dramatically in price depending on the area of the city in question. A property in a skyrise may be the norm for expats, but hong kong apartments for rent can include accommodation in neighborhoods that are smaller, and a lot more local than the main expat heavy downtown area.

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How often can I rent a serviced apartment in Hong Kong?

  • Hong Kong serviced apartments can be rented monthly, as major workers are visiting the city on short terms contracts or for business ventures, thus need a fully furnished apartment in Hong Kong on a month by month basis.

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How much does it cost to live in Hong Kong per month?

Summary about cost of living in Hong Kong, Hong Kong: Family of four estimated monthly costs are 3,862$ (30,106HK$) without rent. A single person estimated monthly costs are 1,089$ (8,487HK$) without rent. Hong Kong is 20.02% less expensive than New York (without rent).

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How much is electricity bill in Hong Kong?

Hong Kong, June 2021: The price of electricity is 0.150 U.S. Dollar per kWh for households and 0.146 U.S. Dollar for businesses which includes all components of the electricity bill such as the cost of power, distribution and taxes.

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What is a decent salary in Hong Kong?

What is a good salary in Hong Kong? - Quora. I agree with some of the analyses below, although I would add that the median salary (as opposed to average) of HK is around HKD 16,800 as of 2018, which is about the salary an average university grad makes. The top 10% earns around HKD 40,000+.

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Why are Hong Kong apartments so expensive?

Hong Kong's average property value was a world-beating $1.25 million as of June 2020, according to CBRE Group Inc. The city's low housing stock can be traced back to the Asian financial crisis in 1997, when the government froze land supply to support the property market. ... The supply of new homes continues to decline.Jun 18, 2021

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Is rent expensive in Hong Kong?

Cost of living in Hong Kong is, on average, 15.10% higher than in United States. Rent in Hong Kong is, on average, 77.51% higher than in United States.

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How much is a 1 bedroom apartment in Hong Kong?

The average rent for a one-bedroom apartment in Hong Kong can range from 12,000 to 20,000 HKD (1,500 to 2,500 USD) or more per month. On the upside, most apartments easily meet the highest standards of living.Apr 30, 2020

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How safe is Hong Kong living?

Hong Kong is an advanced economy with very low rates of crime across the city. That's not to say crime doesn't happen. Thefts, assaults and burglaries occur as in any other city, and organised crime is a wider issue for the city. However, overall, crime levels are comparatively low and decreasing.Dec 24, 2021

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Which country is more expensive Hong Kong or Singapore?

Singapore is 9.4% more expensive than Hong Kong.

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What salary is needed to live comfortably in Singapore?

SINGAPORE: The “reasonable starting point” for a living wage in Singapore is S$2,906 a month, according to a study by the Lee Kuan Yew School of Public Policy.Oct 8, 2021

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Is Hong Kong a clean city?

So, is Hong Kong clean? Hong Kong is generally clean ranking third in 2021 for health security and has been making improvements in air quality from 2001 onwards but littering, beach and coastal health need to improve for Hong Kong to become a cleaner, healthier city going forward.Sep 17, 2021

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Is 30000 hkd a good salary?

How do you define good salary, median income of HK people is around 16k, 30k would be decent salary level. But if you are talking about have a high quality of life in HK, 30k is not enough, you can rent 100–200 sqft flat in HK with 10 to 20k(depends on location), 1 to 2k for transportation.

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What is a good expat salary in Hong Kong?

According to HSBC's 2016 Expat Explorer survey, expats in Hong Kong earn nearly USD 170,000 a year – this is well above the global average of USD 97,000. Skilled expats looking to relocate to the eastern economic powerhouse that is Hong Kong can expect high wages and a great quality of life.

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Can foreigner buy property 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.

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How much is McDonalds in Hong Kong?

What I like about McDonald's in Hong Kong is the price. This is one of the cheapest cities in the world for McDonalds meals, priced at HK$18-24 (US$2.25-3) for breakfast meals and (US$HK$24-28 (US$3-4) for lunch value meals.

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Are US dollars accepted in Hong Kong?

Generally, Hong Kong Dollar or HKD (HK$) is the legal currency of Hong Kong. ... In Hongkong and Macau, Chinese currency (RMB) is acceptable by some of shops and restaurants as well. In most cases, Hong Kong Dollars are used, and US Dollars, Euros, Japanese Yen, and RMB can also be used.

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Can you smoke in Hong Kong?

Smoking is prohibited in indoor public places and workplaces. The only exceptions to the smoking ban are: hotel rooms, designated areas in airports and correctional/detention facilities, and tasting rooms in cigar shops.Feb 24, 2020

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Where does Hong Kong electricity come from?

The electricity consumed in Hong Kong is generated mainly using coal, natural gas and nuclear energy as the sources. For example, the Lamma Power Station of The Hongkong Electric Co., Ltd.

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What is the basic charge for electricity?

Simply put, a base charge is the monthly flat fee that appears on your electric bill from your electric provider. A base charge can range from pennies to around $10 a month, depending on which electric company you go with. Which type of electric plan you choose also dictates the fee you'll see on your monthly bill.Jun 18, 2021

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How much power does an air conditioner consume?

The KwH consumption of air conditioners depends on horsepower (HP). For example, an aircon unit with 0.5 HP will use about 600 watts, while a 2.5 HP aircon will consume approximately 2,700 watts. You might want to get a unit that has the lowest HP.Dec 4, 2018

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Is 50000 hkd a good salary?

The top 10% earns around HKD 40,000+. But let's assume that you are a single young professional, looking to move to HK, and would like to enjoy a reasonable level of social life, I would say HKD 50,000 is a decent starting point.

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What is a good salary in Hong Kong 2021?

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. Source: Edigest (in Chinese).Feb 3, 2021

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What is the housing problem in Hong Kong?

Hong Kong has been ranked as the most expensive city to live in. Survey after survey has found that the housing prices in Hong Kong are simply unaffordable. On an average, the median income to housing price ratio is more than 18.

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Why are rents in Hong Kong so high?

Hong Kong became a destination of choice after Chinese tourists were allowed to enter the city as individual travelers as opposed to being in group tours in 2003. Their penchant for luxury goods boosted the city's retail industry -- and store rents shot up.Nov 4, 2021

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Why are Hong Kong apartments so small?

Hong Kong is known for its lack of space and notoriously high rents. ... Found all over Hong Kong, these tiny flats are the result of an imbalance between supply and demand; the increasing demand for and the scarcity of adequate housing has led to skyrocketing property prices.Mar 30, 2021

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Where do expats live in Hong Kong?

Whilst some intrepid souls love living in 'the dark side' of Kowloon, there are three key areas that expatriates tend to gravitate towards: the south side of the island including Stanley and Pokfulam; the Peak; and over to the New Territories, Sai Kung and Clear Water Bay.

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What is expat life like in Hong Kong?

Expats in Hong Kong seldom come to stay for longer than two years which means you're forced to be comfortable with change. Everything needs to be scheduled well in advance, especially with local friends. Additionally, there's a lot of privilege given to people of certain countries, and the opposite for minorities.”Aug 21, 2021

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Is it better to live in Hong Kong or Singapore?

In a nutshell, the answer looks like this: Living in Singapore will suit families better with a cheaper cost of living, a safer environment, top PISA marks, a higher standard of English and better air quality, but Hong Kong is the better place to live if you are pursuing a higher salary, enjoy a larger variety of ...Nov 5, 2021

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