moving to hk

[gsyd]

hi - i'm looking at moving up to hk next year and just wondering if i was prepared to flatshare in a flat close to the business district and earning US100k (gross) per annum, i would be able to save? assume a pretty modest lifestyle with regards to eating/entertainment/travel etc.
thanks

[berryplucker]

Yes, very comfortably, assuming no wives, kids etc.

[superlayer]

lol
100k usd per year?

Thats what 68000 hkd per month.

I think many locals would feel insulted if they got a question like that.

You can live comfortable in any place in the world for that amount of money.

[kram]

If your question is relative to what you are saving currently in another place, the answer could be different. But you can live a comfy life and save with 100k in HK.

[JJexpat]

Humour aside, Nivanti is right. I evaluate your 100k USD at about 65000 HKD/month. That is more than most make. However, it is also true that if housing is not included, it is far less than some make. Everything is relative and you need to be realistic. At that income, you will easily afford a decent flat and will not need to share unless you want the company and/or some instant contacts who know the ropes.

Rates are inflated in part because companies pay it for their execs. I was out to Sai Kung today...housing can run 45k+ to approximate what many are used to abroad. It all depends on what people are used to, so the questions are not really surprising. (Equivalent housing to what I had in Canada would run 150+ here...I simply don't expect the same standard of living. I find great irony in people assuming one comes to Hong Kong to make out like a bandit--I think those days are over.)

Learn about your tax implications, learn a bit about the stages of expatdom, and maybe take a serviced suite at first to give yourself time to learn the lay of the land and select a flat you'll want to stay in for a while.

Enjoy HK - it's an amazing experience ;-)
JJ

[koheba]

Sorry of the ignorance, but I am new top this board...I take it the US$100,000 per annum is gross,meaning you have to find your own accomodation and etc., is this the correct way to understand this? I ask because I may be moving to HK very soon and aslo trying to get a sense of the living standard, etc. I am currently from Canada.

Cheer

[syosko]

I recently moved from the US (Boston), and have gone through the househunting bit, etc..

If you're looking at $100k gross, the big question for youw ill be, is your company going to tax equalize you (ie. you'll pay US txs & they make up the difference) or not. That's gonna be the big factor for you. If you want some advice, you should also check into transportation allowances, as well as whether or not your health insurance will be covered. Those are 2 areas that can quickly become big $$ sinks for you.

Also, you need to be prepared that what you get for rental space is vastly different from what you'd get in a US major city- probably the big compromise will be space (sq footage). The rental market is even stingier than NYC, so you're not likely to get a lot of space for your $$.

Hope that helps. If you need anything else, you can send me a pm.

[berryplucker]

Don't get railroaded by people trying to sell you health insurance. Emergency medical care in the hospitals is essentially free ($100 per visit for HK ID card holders). As a young, healthy single person you may feel that there is no need for any additional insurance.

[KnowItAll]

Nivant, I would not go that far. They're no worse than stock brokers, investment houses and other fine institutions.