How Much Does It Cost to Live In Hong Kong?
Hong Kong is on the list of the world’s most eхpensive countries.
The prices here are very high for some separate items like luxury hotels, leisure or shopping.
The cheapest things in Hong Kong, though, are food, transport and lots of free outdoor and indoor activities.
This country has the highest level of life in entire Asia thanks to the intelligently developed infrastructure and government.
Natural resources are not subject to the pride of Hong Kong, but thousands of tourists and employees head to this rich country.Cost of Living Index:
Hong Kong : Cost of Living by City
The prices for food in Hong Kong are rather low.
You will not get your wallet left empty if you visit one of the local restaurants.
Especially cheap are combo meals, water, traditional rice, and similar food.
If you would like to try your native cuisine in Hong Kong or some other international dishes, you will pay more then.
Hong Kong has more than ten great outdoor retail markets that the local shops and boutiques will never beat.
Many products of good quality are sold at low prices.
Especially unique and colorful are the seafood markets, just make sure you do not mix them up with the goldfish market.
The vlaue of the products is rather high.
Transport in Hong Kong, according to the statistics is very cheap.
The transportation system in this country was very well developed many years ago and is improving with every other year.
You will save more if you buy a monthly pass for one of the means of public transport and do not drive your private car.
Prices of the monthly utilities are not that scary as it could seem at first glance.
Again, the average bill is based on the average consumption of water, electricity, gas, and conditioning.
The Internet is cheap in comparison to most of the European countries, as well as the mobile phone.
SPORTS & LEISURE
An active lifestyle and different leisure activities are supported in Hong Kong at the governmental level.
Old and young are encouraged to take part in the sporting programmes in the country and the city of Hong Kong.
As for water sports, people usually go swimming, boating, sailing, or canoeing.
CLOTHING & SHOES
The largest number of shops, restaurants, nightclubs, and bars are located on the Hong Kong island which can be named the center of shopping.
There are always sales and special offers where you can get discounts on collections of the previous season.
It has lots of outlet stores, shopping malls, and markets.
RENT PER MONTH
You have probably seen the photos of Hong Kong real estate property on the web, when they were talking about overpopulated places elsewhere.
Accommodation in Hong Kong is extremely expensive and difficult to find.
Some of the cheap hotels are of really bad quality so you will want to pay more but live in appropriate living conditions.
Cost of Living Averages Table for Hong Kong
|Average Restaurant Prices|
|Meal (Inexpensive Restaurant)||$6.37|
|Domestic Beer (0.5 Liter)||$6.37|
|Water (0.33 Liter)||$0.96||Average Market Prices|
|Milk (1 Liter)||$2.86|
|Loaf Bread (500g)||$2.35|
|Eggs (12)||$3.24||Average Transport Prices|
|One Way Ticket||$1.27|
|Gasoline||$2.02||Average Utilities Prices|
|Basic (Water, Electricity, Garbage, Heating, Cooling)||$199.39|
|1 min. of Prepaid Mobile Tariff Local||$0.06|
|Internet (Unlimited Data, Cable/ADSL)||$26.05||Average Leisure Prices|
|Fitness Club, Monthly Fee for 1 Adult||$78.32|
|Tennis Court Rent (1 Hour)||$7.40|
|Cinema, 1 Seat, International Release||$12.74||Average Clothing Prices|
|1 Pair of Jeans (Levis 501 Or Comparable)||$76.59|
|1 Summer Dress in a Chain Store (Zara, etc...)||$39.24|
|1 Pair of Adidas Walking Shoes (Mid-Range)||$82.65||Average Rent Prices|
|Apartment (1 bedroom) in City Center||$2333.70|
|Apartment (1 bedroom) Outside of Center||$1580.30|
|Apartment (3 bedrooms) in City Center||$4730.87|
How Does the Average Person Spend Their Money in Hong Kong?
Since the prices for accommodation are far beyond the figures that your imagination can draw, the largest portion of the monthly income of an average Hong Kong citizen is spent on the rent.
In comparison with the markets which get 25.7% of the money from buyers, the percentage of money spent in restaurants in Hong Kong seems surprisingly low (7.5%).
The food and transportation are so cheap that the charts are not similar to any similar charts for America or Europe.
Only 1.9% of the family budget is spent on clothing and shoes, which is too low.
Utility bills take as much as 4%, while sports and leisure are at the level of 4.6% of the money spent.
Hong Kong: Average Salary, Minimum Wage & Mortgages
An average monthly net salary for a Hong Kong citizen is $2425.57 and the minimum wage is $821.9.
With these sums of money, you are unlikely to be able to rent an apartment in the city center or enjoy life to the fullest.
Although, the mortgage interest rate is rather low here, so you can take the housing loan and benefit thousands of dollars from rent.
The interest rate per annum for 20 years of loan is 2.47%.
The best salaries are paid to executive assistants, marketing assistants, IT guys, and project managers.
Cost of Living by City in Hong Kong
|City||Cost of Living Index|