Initial set up costs + furniture

[Richack10]

Currently looking at relocating to HK and have been told to allow the equivalent of 4 (or preferably 5) months rent to set up. To cover costs such as deposits, agency commission, initial utility bills etc. Do people who have moved out there reckon that's a fair estimate? Rent would be about $12K so budgeting $48 - $60K.

Also, I will be moving from the UK and if I cannot get a furnished place I was contemplating asking my company to pay to furnish the apartment instead. I know there's an Ikea that delivers but does anyone else have details of other (reasonably priced) furniture superstores?

[larac]

You will need 2 months rent as a deposit plus Stamp Duty but I can't recall how much that is. Utilities will cost about $2k in bonds/advance payments then anything up to about $30k for basic furnishings but totally dependent on you style and space. Pricerite is an alternative to Ikea - if you register on their website you can see the prices and they often have free deliver if you buy a certain amount. Most flats come with a fridge and washing machine but you need to buy everything else.

[Richack10]

Thanks. All the apartments I viewed had fully equipped kitchens so don't anything like that but any advice on where to look for electrical goods, TVs etc...?

[carang]

as someone said, you need 2 months deposit plus stamp duties.

however... you also need first month's rent up front AND 1/2 month IF you use an agent.

this means that you actually need 3.5 months up front, just to move into the flat. can't remember how much i had to put down for utilities deposit as i did it 11 years ago...sorry.

[larac]

So right - I totally forgot about the huge agent commission and the actual first months rent. It is alot to pay at once so see if your company will cover it and you can take a salary deduction over the next year to pay it back. For tv's etc check out Broadway and Fortress - they are all over the place and usually charge the same. If you go to Times Square they are side by side and the Tai Lin Radio Shop, which we have ended up getting all our electronic stuff from, is upstairs. For furniture you've got Pricerite and Ikea, all the shops on Queens Road in WanChai and Horizon Plaza in Ap Lei Chau as good places to start, for homewear check out Wing On in Sheung Wan.