16 Aug 2023
With leading global brands headquartered there and outstanding schooling opportunities on offer, many dream of moving to Hong Kong.
Despite its expensive reputation, Hong Kong remains attractive to expats, with a thriving population of 7 million. The city grapples with limited space yet offers remarkable career prospects and a global company presence. This expansion and the rising prices prompt the question: what's the true cost of living in Hong Kong? To help you with your move, we've broken each aspect into our guide.
The initial and greatest cost, no matter where you live, is housing; and this is no different for densely populated Hong Kong. When you move here, you have many choices to make: buy or rent, in the city centre or on the outskirts. The best decision for you comes down to the amount of time you will be living there and where you want to be. We've broken down both of these costs.
|
Accommodation type |
Cost (HK)* |
Cost (GBP)* |
|
1 Bedroom Flat in the City Center |
17,900 HK$ |
1,788 |
|
3 Bedroom Flat in the City Center |
34,000 HK$ |
3,382 |
|
1 Bedroom Flat Outside of Centre |
12,800 HK$ |
1,291 |
|
3 Bedroom Flat Outside of Centre |
23,000 HK$ |
2,255 |
|
Accommodation type |
Cost (HK)* |
Cost (GBP)* |
|
1 Bedroom Flat in the City Center |
5 million HK$ |
£500,000 |
|
3 Bedroom Flat in the City Center |
15millionHK$ |
£1,500,000 |
The next consideration after accommodation is looking at the cost of daily living in Hong Kong. Like every city, they can cater for a variety of budgets, with many high-end and affordable options on offer. To give you an idea of average prices and budgets, we've broken down some of the essential living expenses so you have a clear vision of your costs when living in Hong Kong.
|
Cost (HK)* |
Cost (GBP)* |
|
|
Milk (regular), (1 litre) |
24.05 HK$ |
£2.42 |
|
Loaf of Fresh White Bread (500g) |
17.05 HK$ |
£1.71 |
|
Rice (white), (1kg) |
19.15 HK$ |
£1.93 |
|
Eggs (regular) (12) |
28.22 HK$ |
£2.84 |
|
Local Cheese (1kg) |
185.88 HK$ |
£18.70 |
|
Chicken Fillets (1kg) |
73.29 HK$ |
£7.37 |
|
Beef Round (1kg) (or Equivalent Back Leg Red Meat) |
192.64 HK$ |
£19.38 |
|
Apples (1kg) |
33.21 HK$ |
£3.34 |
|
Cost (HK)* |
Cost (GBP)* |
|
|
One-way Ticket (Local Transport) |
11.35 HK$ |
£1.14 |
|
Monthly Pass (Regular Price) |
500.00 HK$ |
£50.29 |
|
Taxi Start (Normal Tariff) |
27.00 HK$ |
£2.72 |
|
Taxi 1km (Normal Tariff) |
10.00 HK$ |
£1.01 |
|
Taxi 1 hour Waiting (Normal Tariff) |
102.00 HK$ |
£10.26 |
|
Gasoline (1 litre) |
22.40 HK$ |
£2.25 |
Hong Kong has an incredible infrastructure to cater to its large population, but it's vital to understand the costs, especially if you aren't planning on using public services. Opting to use private healthcare and education is common practice among expats, which is why we’ve broken them into smaller sections.
Education in Hong Kong is free and compulsory from 6 to 15. State education is in Chinese, with a possibility of English in the later years. For families moving to Hong Kong from the UK, international schools tend to be the most popular option for education. Here is a breakdown of prices, but it’s important to note that international school prices will vary based on factors such as age, amount of children you are enrolling and facilities.
|
Type: |
Yearly average HKD* |
Yearly average HKD* |
|
International school |
100,000 to 200,000HK$ |
£10,000 to £20,000 |
|
Public School |
Free |
Free |
Hospitals in Hong Kong are known for being pricier than other cities. With these charges, it is good to factor in the average cost when considering your cost of living here.
|
Type: |
Cost HKD* |
Cost GBP* |
|
Consultation with GP |
250 HK$ |
£25 |
|
Consultation with Dentist |
500- 1000 HK$ |
£50-£100 |
|
Hospital Deposit |
30,000 - 40,000HK$ |
£3000 -£4000 |
Planning a move? Bishop’s Move is here to help. We’ve been planning and executing international moves for over 165 years. Contact us today and our friendly team will be on hand to help with your removal to Hong Kong.
*All prices are approx as of August 2023.
