Question: Is Living In Hong Kong Expensive?

How expensive is an apartment in Hong Kong?

How expensive is housing and accommodation in Hong Kong?Renting in Hong KongAverage monthly costOne bedroom apartment (city centre)HK$16,551One bedroom apartment (outside of city centre)HK$11,006Three bedroom family home (city centre)HK$39,800Three bedroom family home (outside of city centre)HK$23,4262 more rows•Aug 31, 2017.

How bad is the air quality in Hong Kong?

HongKong Air Pollution: Real-time Air Quality Index (AQI)CurrentMaxPM2.5 AQI6285PM10 AQI2434O3 AQI3240NO2 AQI25646 more rows

How much does a Big Mac cost in Hong Kong?

Hong Kong – $2.48 In addition to their graphically pleasing burger box, Hong Kong sells the Big Mac for $2.56 less than United States.

What is a good salary in Hong Kong 2019?

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.

Is Hong Kong nice place to live?

Hong Kong has one of the lowest crime rates in the world despite the territory having one of the most densely populated urban regions. Often described as one of the safest cities in the world, low crime rates make Hong Kong the perfect place for you to settle down.

What is the coldest month in Hong Kong?

JanuaryJanuary is the coldest month in Hong Kong, but it is still dry and mild usually. The average low and high temperatures are 10 °C (50 °F) and 23 °C (74 °F). January is the driest month of the year and so sightseeing is much easier. This is one of the best months to visit Hong Kong.

How much tax do I pay in Hong Kong?

Individuals are taxed at progressive rates on their net chargeable income (i.e. assessable income after deductions and allowances) starting at 2% and is capped at 17%; or 15% of net income (i.e. income after deductions only), whichever is lower. For further details, refer to Hong Kong Personal Income Tax guide.

What are houses like in Hong Kong?

You can find large, exclusive colonial mansions with sprawling gardens and long driveways on Hong Kong Island and Kowloon. Newer buildings are popping up in the New Territories. Houses are normally owned by the people living in them, but sometimes they are rented out to senior diplomatic officials or business people.

Is 30000 hkd a good salary?

If you want a more decent place to live in, say 500 sq feet in downtown, HKD 30k (your whole salary) may not be enough. … So, IMHO, if your company provides housing for you, I think HKD 30000 is OK, not very nice, but OK, and you should be able to live a comfortable life.

What is the average rent 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.

Is food expensive in Hong Kong?

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.

Why is Hong Kong so rich?

The economy of Hong Kong is a highly developed free-market economy characterised by low taxation, almost free port trade and well-established international financial market. Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, and is pegged to the US dollar.

How much does a house cost in Hong Kong?

According to the report, the average price of a home in Hong Kong in 2019 is more than $1.2 million. High demand and short supply have driven property prices to “unaffordable” levels in recent years, with the territory planning to build an $80 billion artificial island to help fix the crisis.

Can I drink the water in Hong Kong?

Hong Kong’s water is good enough to drink. According to Hong Kong’s Waterworks Regulations, the consumer is responsible for the proper maintenance of the building’s plumbing15. So as long as you maintain your plumbing in good condition, Hong Kong’s water is actually safe to drink from the tap without having to boil.

Do you pay tax in Hong Kong?

There is no capital gains tax, no dividend tax and no inheritance tax in Hong Kong. Hong Kong follows a territorial principle of taxation. Individuals are taxed only on income that has been “earned in Hong Kong”.

What is a good salary in Hong Kong?

A HK$1.5 million yearly income would mean a monthly salary of HK$125,000. According to the Population Census last year, only 4.2 per cent of the working population earn more than HK$60,000 a month, the highest category in the report. Hongkongers on average earn HK$12,800 per month.

How is life in Hong Kong for expat?

The expat community is small and no matter what you do for a living, meeting friendly like-minded people is easy. Everyone has business cards here and it’s considered impolite if heading out and not taking a handful with you for the chance encounter that you may have.

Why is Hong Kong so special?

Hong Kong is officially known as the Hong Kong Special Administrative Region. Hong Kong has one of the world’s most thriving economies and is a hub for international trade and investment. A cosmopolitan city, Hong Kong weaves Western and Asian influence into a world-class center of business, culture, and trade.

Is it expensive 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.

Why is living in Hong Kong so expensive?

It’s no secret Hong Kong is one of the most tax-friendly economies in the world. One of the reasons the government can keep taxes so low is because a large chunk of its revenues come from land sales. … In fact, if property values dropped too much, the government could even have to rethink its tax revenue system.

Can I buy a house in Hong Kong?

Most foreigners can buy in Hong Kong but, in an attempt to cool the market and put off overseas speculation, the government has imposed an extra 15% Buyers’ Stamp Duty on foreign sales. … There is also additional stamp duty for second homes and for homes resold within three years.