Hong Kong : Cost of Living by City
How Much Does It Cost to Live in Hong Kong?
Hong Kong is on the list of the world’s most expensive countries.
The prices here are very high for some separate items like luxury hotels, leisure, or shopping.
The cheapest things in Hong Kong, though, are food, transport, and lots of free outdoor and indoor activities.
This country has the highest level of life in entire Asia thanks to the intelligently developed infrastructure and government.
Natural resources are not subject to the pride of Hong Kong, but thousands of tourists and employees head to this rich country.
Cost of Living Breakdown in Hong Kong
RESTAURANTS
The prices for food in Hong Kong are rather low.
You will not get your wallet left empty if you visit one of the local restaurants.
Especially cheap are combo meals, water, traditional rice, and similar food.
If you would like to try your native cuisine in Hong Kong or some other international dishes, you will pay more then.
| Average Restaurant Prices | |
|---|---|
| Meal (Inexpensive Restaurant) | $7.66 |
| Domestic Beer (0.5 Liter) | $6.71 |
| Water (0.33 Liter) | $1.05 |
MARKETS
Hong Kong has more than ten great outdoor retail markets that the local shops and boutiques will never beat.
Many products of good quality are sold at low prices.
Especially unique and colorful are the seafood markets, just make sure you do not mix them up with the goldfish market.
The value of the products is rather high.
| Average Market Prices | |
|---|---|
| Milk (1 Liter) | $3.09 |
| Loaf Bread (500g) | $2.33 |
| Eggs (12) | $3.41 |
TRANSPORTATION
Transport in Hong Kong, according to the statistics is very cheap.
The transportation system in this country was very well developed many years ago and is improving every other year.
You will save more if you buy a monthly pass for one of the means of public transport and do not drive your private car.
| Average Transport Prices | |
|---|---|
| One Way Ticket | $1.53 |
| Monthly Pass | $63.86 |
| Gasoline | $2.78 |
UTILITIES (MONTHLY)
Prices of the monthly utilities are not as scary as they could seem at first glance.
Again, the average bill is based on the average consumption of water, electricity, gas, and conditioning.
The Internet is cheap in comparison to most European countries, as well as the mobile phone.
| Average Utilities Prices | |
|---|---|
| Basic (Water, Electricity, Garbage, Heating, Cooling) | $199.44 |
| 1 min. of Prepaid Mobile Tariff Local | $0.10 |
| Internet (Unlimited Data, Cable/ADSL) | $23.11 |
SPORTS & LEISURE
An active lifestyle and different leisure activities are supported in Hong Kong at the governmental level.
Old and young are encouraged to take part in the sporting programs in the country and the city of Hong Kong.
As for water sports, people usually go swimming, boating, sailing, or canoeing.
| Average Leisure Prices | |
|---|---|
| Fitness Club, Monthly Fee for 1 Adult | $72.59 |
| Tennis Court Rent (1 Hour) | $9.10 |
| Cinema, 1 Seat, International Release | $12.77 |
CLOTHING & SHOES
The largest number of shops, restaurants, nightclubs, and bars are located on Hong Kong island which can be named the center of shopping.
There are always sales and special offers where you can get discounts on collections from the previous season.
It has lots of outlet stores, shopping malls, and markets.
| Average Clothing Prices | |
|---|---|
| 1 Pair of Jeans (Levis 501 Or Comparable) | $81.98 |
| 1 Summer Dress in a Chain Store (Zara, etc...) | $40.30 |
| 1 Pair of Adidas Walking Shoes (Mid-Range) | $89.19 |
RENT PER MONTH
You have probably seen the photos of Hong Kong real estate property on the web when they were talking about overpopulated places elsewhere.
Accommodation in Hong Kong is extremely expensive and difficult to find.
Some of the cheap hotels are of really bad quality so you will want to pay more but live in appropriate living conditions.
| Average Rent Prices | |
|---|---|
| Apartment (1 bedroom) in City Center | $2221.95 |
| Apartment (1 bedroom) Outside of Center | $1601.07 |
| Apartment (3 bedrooms) in City Center | $4642.94 |
HEALTHCARE
Hong Kong maintains a mixed system with heavily subsidized public care that is low-cost for residents and a large private sector.
Private health insurance premiums average about 585 USD per year, with higher plans costing more for greater coverage.
Out-of-pocket expenses for private care can run from several hundred to over 1,000 USD per year.
With average monthly salaries of 3,000 to 3,500 USD, basic public care is affordable, but private services and insurance costs can make healthcare a notable portion of income for those choosing private care.
EDUCATION
Public primary and secondary schools charge low tuition, around $1,000 to $3,000 per year, but families pay for uniforms, books, and supplies.
Private schools and international schools charge $10,000 to $40,000 annually.
Public universities charge tuition of $5,000 to $9,000 per year for local students, while international students often pay $15,000 to $25,000 annually.
Additional costs include housing, food, transport, and textbooks.
Average monthly income is about $4,500, making public education affordable, while private schooling and university tuition are significant expenses.
How Does the Average Person Spend Their Money in Hong Kong?
Since the prices for accommodation are far beyond the figures that your imagination can draw, the largest portion of the monthly income of an average Hong Kong citizen is spent on rent.
In comparison with the markets which get 28.1% of the money from buyers, the percentage of money spent in restaurants in Hong Kong seems surprisingly low (8.5%).
Food and transportation are so cheap that the charts are not similar to any similar charts for America or Europe.
Only 1.9% of the family budget is spent on clothing and shoes, which is too low.
Utility bills take as much as 4%, while sports and leisure are at the level of 4.2% of the money spent.
Average Costs Breakdown
Hong Kong: Average Salary, Minimum Wage & Mortgages
An average monthly net salary for a Hong Kong citizen is $2,867.39 and the minimum wage is $797.7.
With these sums of money, you are unlikely to be able to rent an apartment in the city center or enjoy life to the fullest.
Although the mortgage interest rate is rather low here, so you can take a housing loan and benefit thousands of dollars from rent.
The interest rate per annum for 20 years of the loan is 2.60%.
The best salaries are paid to executive assistants, marketing assistants, IT guys, and project managers.
Hong Kong Safety Overview
READ THE FULL REPORT: Hong Kong Safety Review
| OVERALL RISK | LOW |
|---|---|
| TRANSPORT & TAXIS RISK | MEDIUM |
| PICKPOCKETS RISK | HIGH |
| NATURAL DISASTERS RISK | HIGH |
| MUGGING RISK | LOW |
| TERRORISM RISK | LOW |
| SCAMS RISK | MEDIUM |
| WOMEN TRAVELERS RISK | LOW |
| TAP WATER RISK | LOW |
Cost of Living by City in Hong Kong
| City | Cost of Living Index |
|---|---|
| Hong Kong |
74.73 |
I don’t know, but is it just me or is Hong Kong a bit crowded compared then? I went there with my family as tourists and we were surprised by the number of people there.
I think it is better to visit Hong Kong than living there, it’s just my two cents. I travel there for work and what I like most about it is the asian food.
It’s wild how the high cost of living can put a price tag on experiences, yet here you can feast on amazing food without breaking the bank. Guess it’s all about finding that sweet spot between splurging on luxuries and enjoying the simple pleasures!