Cost of living in Hong Kong: let’s analyze costs of food, real estate, entertainment and transport in Hong Kong, China
Are you planning to visit or work in Hong Kong? Check below the data for the cost of living in Hong Kong, the most developed Special Administrative Region of China.
Cost of Living in Hong Kong
Hong Kong is one of the most interesting cities in Asia. What was once part of the British Empire and now a Special Administrative Region of China, Hong Kong managed to remain highly attractive for Asian and Western expats, investors and corporations.
The city undoubtedly offers career prospects for many expats. Hong Kong is one of the world’s leading financial hubs, also a free port, and one of the most attracting places in the world when it comes to taxes.
Despite an extremely favorable scenario for business (HK scores high in economic freedom), the city also has its disadvantages. The cost of living in Hong Kong is extremely high. The main factor pushing the overall cost of living in Hong Kong is the price of housing. Hong Kong is one of the most expensive cities in the world for both home buyers and renters.
Other costs of living in Hong Kong such as groceries and restaurant prices are comparable to other Asian top tier cities including Tokyo and Seoul.
Let’s check some data for the cost of living in Hong Kong below:
The currency in Hong Kong is the Hong Kong Dollar. The conversion rate to the HKD is 1 dollar to 7.75 HKD as of April 10, 2020.
If you want to suggest your own values based on your experiences in this city, click on edit and insert the values. Upon moderation they will be calculated to make part of the average prices displayed below.
|1 liter of milk||3.05 USD|
|1 loaf of bread||2.10 USD|
|1 kg of tomatoes||3.10 USD|
|1 kg of chicken||6.50 USD|
|1 single meal cheap restaurant||7.30 USD|
|1 single meal high-end restaurant||22.00 USD|
|1 cappuccino or latte||4.60 USD|
|1 big pizza delivery||20.50 USD|
|Real Estate||Price [EDIT]|
|1 bedroom flat (40 m2) rent per month||2,100.00 USD|
|1 bedroom flat (40 m2) utilities per month||95.00 USD|
|2 bedroom flat (80 m2) rent per month||4,200.00 USD|
|2 bedroom flat (80 m2) utilities per month||170.00 USD|
|Price per square meter (city center)||26,500.00 USD|
|1 single ride public transport||1.20 USD|
|Monthly public transport ticket||59.00 USD|
|1 km taxi or similar transport app||1.10 USD|
|1 liter of gasoline (1/4 gallon)||1.95 USD|
|Toyota Corolla (new) basic version||25,475.00 USD|
|Minimum Salary||920.00 USD|
|Average Salary (net)||2,650.00 USD|
|1 ticket to the movies (adult price)||13.00 USD|
|High speed internet per month||26.20 USD|
|1 month gym subscription||65.00 USD|
Cost of Living for Students in Hong Kong
Hong Kong is a desirable place to study in a higher education institution. There are both public and private universities in Hong Kong, offering a wide range of degrees both in English and Chinese.
Non local students will usually pay for tuition on an yearly basis. Studying in Hong Kong is not necessarily affordable and tuition fees can cost from USD 11000 to 34000, depending on the field of study and the program selected.
Here are some of the main higher education institutions in Hong Kong:
Getting a Job in Hong Kong
Hong Kong is a highly desirable place to get a job. Firstly, many important companies in the finance, shipping and ecommerce have either headquarters or offices in the area. Secondly, Hong Kong has some of the highest salaries in Asia. There are many positions, mostly on upper scale in the IT, finance or marketing in international companies that will not require you to speak Cantonese or Chinese to get a job.
The Special Administrative Region is also a great place to start a company. Hong Kong based companies do not pay taxes on income earned outside of Hong Kong, which makes it a highly attractive place for ecommerce and internet marketing companies.
Finally, Hong Kong is also attracting a number of low skilled workers for the past decades. These include jobs mostly positions which do not require language skills are often filled by Asian workers from countries in Southeast Asia.
Here are some websites for job hunting in Hong Kong:
Quality of Life in Hong Kong
In terms of quality of life, Hong Kong scores high in most aspects, but it also has some disadvantages. The city is extremely safe, and also has one of the best urban transport networks in the world. Hong Kongers are usually polite and helpful towards foreigners. The climate in Hong Kong is usually pleasant year round, however, sometimes Typhoons may hit the region.
Hong Kong is an extremely dense in terms of population, which reflects in how problematic the housing situation is. While air pollution is relatively high in Hong Kong, it is low when compared to most cities in Mainland China.
If you are going around Kowloon or the Hong Kong Island, you will have no problems finding English speakers. If you travel to more secluded areas of Hong Kong, it may be possible that the locals who only speak Cantonese. In recent years, the growth of Mandarin in Hong Kong is noticeable.
If you are visiting Hong Kong soon you may want to check some of our other guides to Asia. Check the where to stay in Hong Kong and our article on the best places to stay in Shenzhen. You can also check the our article on how to travel from Hong Kong to Macau and the average and minimum salary in Hong Kong.
Other Resources for Expats and Travelers
Salaries Worldwide: check our articles on wages worldwide and understand better the economics of the countries you may be considering to move or invest.
Retire Abroad: check our retirement guides and maximize your retirement income and quality of life.
Jetradar: compare and find the cheapest air fares worldwide.