Cost of living in Hong Kong:
In 2018, Hong Kong was regarded as the most expensive city for expats among 209 cities worldwide edging out Tokyo, Zurich, Singapore, and Seoul. Soaring rental costs are the major reason why Hong Kong outpaced other cities. However, transportation, telecommunications, and public healthcare cost significantly less than many countries in Europe or the USA. Expats who are going to relocate to Hong Kong may need to know more about the cost of living in Hong Kong.
Cost of accommodation
As mentioned, the cost of accommodation in Hong Kong is extremely high. If you get the housing allowances from or even an apartment arranged by your company, you will not treat the housing as a big issue. Otherwise, you may want to know where to live and how much it costs. Most of the expats move to Hong Kong Island. Families with kids love to settle in the southern part of Hong Kong Island, while the wealthy one tends to live in the Mid-Levels. Generally, a decent two-bedroom apartment in the expat dense area can cost you USD$6000 or even higher, and the price varies according to location. You can also pay less if you don’t mind to live in Kowloon or even in New territories. Since the rent is comparatively high in the areas near to famous schools, expats who come alone may consider avoiding those locations.
Cost of Food
Hong Kong imports vegetables and meats from all around the world, thus you can easily buy ingredients in wet market or supermarket. As Hong Kong is a cuisine paradise, you can find all kinds of food in Hong Kong, and the price range is large. Generally, you need to pay 10% service charge when dining in a restaurant, which is relatively low comparing that in the US.
Cost of Transportation
Transportation is sophisticated in Hong Kong, and the fare is cheap. You can reach most of the places in Hong Kong by bus or train within an hour by paying little. Taxi fare starts from US$3 and rises US$0.2 for every additional 200 meters and minute of waiting.