Easy access to travel throughout Asia: As a major transportation hub, Hong Kong provides easy access to other Asian destinations, making it an ideal base for travelers and expats. This will cover all expenses. Hong Kong vs New York City - Cost of Living Comparison Take a ride on the Star Ferry: Hop on the iconic green and white ferries that traverse Victoria Harbour. What is the Cost of Accommodation in Hong Kong? Prices range from $0.70 to $5.00 USD (HKD 5.5 39). Still, a major plus is that tax rates in Hong Kong are low compared to the rest of the region, and much lower compared to Australia or Europe. Total cost of living in Hong Kong for two person with average consumption for one month will be 1258.26 USD, no rent price included. We went all out and summarized the cost of living in Hong Kong and provided a table of expenses, information on rent, accommodation, food costs, videos, Facebook Groups, Tourism Boards and more from our time living there as digital nomads! 80.00 (821.07 HK$) Coffee costs: $4.98. While you may want to stay in a skyscraper, serviced apartments in smaller neighborhoods are often more affordable and more localized than those in the citys downtown area. 30.00 (32.63 HK$) 50.56 (55.00 HK$) Meal for 2 People, Mid-range Restaurant, Three-course. Expect to spend from $50 $100 a month on Transportation, Most People dont Own a car in Hong Kong because the parking fees are crazy, the best way to get around is to use the Subway, Tram and Ferry Heres a breakdown of each option, including costs: Here is a detailed table of estimated costs for public transportation in Hong Kong:Transportation Options in Hong KongDescriptionPrice Range per Trip (USD)Price Range per Trip (HKD)MTR (Mass Transit Railway)The MTR (Mass Transit Railway) is a subway system covering most Hong Kong areas, including the airport. Expat Cost Of Living In Hong Kong | Adam Fayed Tram: The tram is a great choice for an affordable way to travel around Hong Kong Island. Mobile phone plan (Postpaid): The estimated monthly cost for a postpaid mobile phone plan in Hong Kong ranges from $20 to $35 USD or HKD 160 to HKD 280. . Change currency (USD) pay 15.2 % more for entertainment and sports Utilities: Your monthly bill for electricity and water should be around $50 to $100 USD or HKD 390 to HKD 780. Rent: A studio apartment in Hong Kong will cost you $1,200 to $2,000 USD or HKD 9,360 to HKD 15,600 per month, while a 1 bedroom apartment will cost $1,500 to $3,000 USD or HKD 11,700 to HKD 23,400. It is fast, efficient, and affordable.$0.80 $2.30HKD 6.2 18BusBuses cover areas that are not serviced by the MTR. Rents in the United Kingdom are rising at a record pace, a trend that helped the nation's most famous landlord, King Charles III, make a big payday. ), 1 min. While most of the citys business center is located in the Central district, you can find apartments further out in the suburbs. One bedroom apartment (city centre) HK$16,551. Check out these prices, for your reference. Mid-range restaurants in Hong Kong cost an average of $600 to $1,200 per month or HKD 4,600 to HKD 9,200. Limited political freedoms and free speech: While Hong Kong has a degree of autonomy from China, there are concerns about the erosion of political freedoms and free speech in the city. Water: The estimated monthly cost for water in Hong Kong ranges from $23 to $32 USD or HKD 180 to HKD 250. The Cost Of Living Per Month In Hong Kong, is $2,370 $10,600 (HKD 18,500 HKD 83,161) Per Month or more, depending on your spending habits! Go to a horse race: Experience the excitement of horse racing at the Happy Valley Racecourse. How much to rent an apartment in Hong Kong? Public transport is cheap, clean and reliable. If you are in Hong Kong on a budget, however, serviced apartments are often a great option for those who want to experience living in a more affordable setting. Hong Kong offers different types of buses, including double-decker buses, air-conditioned buses, and minibuses. Travel Resources and Reliable Sources For Hong Kong, Apartment rentals on Hong Kong Rental site, Hong Kong Digital Nomad and expat Facebook group, Government Of transportation in Hong Kong. The tram is an affordable way to travel around Hong Kong Island. Expats and digital nomads may spend more, $3200 $5100 per month, to maintain their living standards in Hong Kong. The cost of food in Hong Kong can vary depending on your lifestyle, dining preferences, and dietary restrictions. The cost of living calculated as a consumer basket for a moderate lifestyle in developed countries and thus might seem too high for some least developed countries where maintaining such a standard of living is expensive. Our Monthly Cost of Transportation in Hong Kong: Our monthly transportation costs range from $40 to $100 (HKD 312 HKD 780), depending on the mode of transportation used, such as public transit or taxis. And moving Hong Kong is well established as one of the worlds leading financial centres with low taxes and a highly market driven economy. While you wont find a lot of space for your money, you can get a good one-bedroom apartment for HK$60,000 or more per month. Continue with Recommended Cookies, Posted on Published: March 13, 2023- Last updated: June 16, 2023. Cities ranked 63rd and 9th ( $2884 vs $3300) in the list of the most expensive cities in the world and ranked 1st and 1st in China and Singapore, respectively. For those looking for serviced apartments, there are plenty of them available in the city. A full list of rating actions is at the end of this rating action commentary. Cost of living and prices in Hong Kong - TravelTables.com Specialty food stores in Hong Kong cost an average of $300 to $500 per month or HKD 2,300 to HKD 3,900. Fitch Revises Kenya's Outlook to Negative; Affirms at 'B' Property No. Many expats in Hong Kong prefer to rent a serviced apartment for a minimum stay of one week. What is the Cost of Mobile Phone SIM and Internet Data In Hong Kong? Cost Of Living. Here are just a few reasons why you should try SafetyWing Insurance for your next trip: We suggest you also have it, especially if you live as an expat and digital nomad in Hong Kong. Others spend $10,000 or more each month for an extravagant, next-level lifestyle or even $2,500 on the strictest budget staying in hostels, couchsurfing, and smaller studio apartments, ensuring they make it work no matter what! What is the Cost of Utilities in Hong Kong? Our Monthly Cost of Health Insurance in Hong Kong: Our monthly cost for health insurance ranges from $100 to $300 (HKD 780 HKD 2,340), depending on the level of coverage and provider. Wide Range of Coverage: SafetyWing offers coverage for a variety of events, including medical emergencies, trip cancellations, lost or stolen property, and more. A small one-bedroom apartment in Aberdeen can cost anywhere from HK$1,000 to HK$3,600 per month. Here is a table of expenses for a couple living in Hong Kong per month:Average Cost of Living In Hong KongCost in USDCost in HKDRent (Studio apartment)$1,200 $2,000HKD 9,360 HKD 15,600Rent (1 bedroom apartment)$1,500 $3,000HKD 11,700 HKD 23,400Rent (2 bedroom apartment)$2,500 $4,500HKD 19,500 HKD 35,100Rent (3 bedroom apartment)$3,500 $7,000HKD 27,300 HKD 54,600Utilities (electricity, water)$50 $100HKD 390 HKD 780Mobile phone (unlimited data plan, Sim Card)$30 $50HKD 234 HKD 390Internet (wifi)$30 $50HKD 234 HKD 390Food (groceries, dining out, Partying, nightlife)$500 $1,000HKD 3,900 HKD 7,800Transportation (Public transport, Taxi, Scooter, car)$60 $150HKD 470 HKD 1,170Healthy activities (gym, martial arts, yoga, massages)$50 $150HKD 390 HKD 1,170Health insurance (SafetyWing, World Nomads, or Medicare)$50 $150HKD 390 HKD 1,170Cost of Living In Hong Kong Per Month Total Expenses$2,370 $10,600HKD 18,500 HKD 83,161. The Average cost of rent in Hong Kong is around $1,500 to $10,000 Per Month in Hong Kong. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. The Best things to do in Hong Kong here on Viator! Take a food tour: Sample a wide variety of Hong Kongs famous cuisine, from dim sum to street food. The cost of studio and one-bedroom apartments in Hong Kong: The Cost of 2 Bedroom Apartment in Hong Kong: The Cost of a 3 bedroom apartment in Hong Kong: The Cost of a Luxury Apartment in Hong Kong per month: Suppose youre considering renting an apartment in Hong Kong. 4. A family costs: $8,158 per month. Hong Kong is an exciting and spectacular destination for expats, but it doesnt come cheap. The average cost of living in Hong Kong is $2884, which is in the top 0.7% of the most expensive cities in the world, ranked 63rd out of 9294 in our global list and 1st out of 544 in China. Cost of Living in Hong Kong - Expat Forum I figured out how to make money online, and I bought a one-way ticket to Thailand in 2018, and we never looked back; I have been traveling the world with my girlfriend, Salina. Rent in HK is not high, so long as you dont pay much for utilities or food, its possible to live on this amount. One-bedroom serviced apartments cost around HK$15,000 per week. Here is an example table of expenses for the average monthly utilities in Hong Kong: Pros and Cons of Living in Hong Kong Table:Pros of Living In Hong KongCons of Living in Hong KongExcellent public transportation systemHigh cost of livingLow crime rateCrowded living spacesHigh quality healthcareAir pollutionExcellent food and dining optionsTyphoons and other extreme weather conditionsVibrant and diverse cultural scenePolitical tensions and protestsEasy access to travel throughout AsiaLimited outdoor recreational opportunitiesExcellent job opportunities, particularly in finance and technologyHigh stress and long work hoursWorld-class education systemLimited political freedoms and free speechEfficient and reliable public services, such as waste disposal and postal servicesDifficulty in obtaining permanent residency or citizenship. Prices range from $3.20 to $42.00 USD (HKD 24.5 325). To save money on your rental and daily expenses, consider looking for an apartment located in a neighborhood with access to local markets, gyms, and restaurants and short walking distances and safe areas. Find out what is the real equivalent in Hong Kong of your current salary and improve your chances of a happy relocation. Bus: Buses are a great choice if youre looking to travel to areas not covered by the MTR. Meal, Inexpensive Restaurant. 950.40 HK$. in Hong Kong vs $5500 to $10380 per month living in New York City, United States. In addition to the basic requirements, the minimum rent for a one-bedroom apartment in Hong Kong is around 15,000 HKD per month. . Hong Kong Comparison Cost of living in Shenzhen (China) is 53% cheaper than in Hong Kong How much money will you need in Shenzhen ? Cost of education in Hong Kong The best time to visit Hong Kong is during the dry season from October to April. It runs from Tung Chung to Ngong Ping on Lantau Island. "In Hong Kong, rental properties typically include a refrigerator, washing machine, air conditioner, and stove. MTR (Mass Transit Railway): The MTR is a fast and efficient subway system covering most Hong Kong areas, including the airport. The two largest items you should ask for if you are able to obtain an expat package are support for accommodation and school costs. (2023 Updated) Cost of Living in Hong Kong How Much Does It Cost to Live In Hong Kong? Meal, Inexpensive Restaurant. The average cost of living in Hong Kong is $2884, which is in the top 0.7% of the most expensive cities in the world, ranked 63rd out of 9294 in our global list and 1st out of 544 in China. Global Coverage: SafetyWing insurance covers you anywhere in the world, including countries that many other insurance companies exclude. Manage Settings Living in Hong Kong: What You Need to Know Before You Move - InterNations Renting in Hong Kong. Visit the Big Buddha and Po Lin Monastery: Take a cable car ride up to the giant bronze statue of Buddha on Lantau Island. Proof of ID is usually enough. Rent accommodation farther out of the city, Do your fruit and vegetable or grocery shopping in the open air or government organise markets, Use the (free) parks and hiking trails to keep fit, instead of joining a gym or club. Buses cover areas that are not serviced by the MTR. Airport Express: If you need to get to the city center from the airport, the Airport Express is a fast and convenient train. The Cost of Utilities in Hong Kong Cost around $200 to $400 per month, depending on your energy consumption! Its okay to live alone with a budget of this size if you earn less than thirty thousand dollars per month, as long as you prepare yourself to live very sparsely. For luxury apartments located outside the city of Hong Kong, the average monthly cost is $9,000 or more, equivalent to HKD 70,000 or more.

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