Quick Answer: What Is Considered A Good Salary In Hong Kong?

Where do most expats live in Hong Kong?

So with all that in mind, the following 7 areas of the city are the best places to live for expats in varying circumstances.Happy Valley/Jardine’s Lookout – Upmarket Living.

Kowloon Tong & West Kowloon – Good for Families.

The Mid Levels – Wonderfully Central.

Repulse Bay & Stanley – Offering the Beach Life.

The Peak.More items…•.

Why are taxes so low in Hong Kong?

Companies and workers in Hong Kong enjoy some of the lowest taxes in the world. This is partly because the government has huge fiscal reserves equivalent to more than 12 months of expenditure. The interest received on these reserves is a crucial source of revenue, and helps keep the tax burden light.

How much do you need to live comfortably in Hong Kong?

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.

How much is an average 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.

Is Hong Kong expensive to live?

For the last eight years, U.S. planning consultancy Demographia has ranked Hong Kong the most expensive city in the world to live in on a scale calculated by dividing the median house price by the median household income. In Hong Kong, property costs 19.4 times the average household income.

What is a good salary in Hong Kong 2020?

As of January 2020, the new minimum salary is of HK$ 37.5. 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 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.

Is it difficult to get a job in Hong Kong?

Although Hong Kong has a reputation as an expat playground, it has never been harder to find a job here. Competition from mainland immigrants is fierce, and work visa rules are tighter than ever before. … Finding work for the lone expat is much more difficult, primarily because they don’t speak Cantonese.

Why Hong Kong is 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.

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.

What is the average cost of living 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 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.