Another salary question: Is 40K enough for two?

[normad]

Thanks for your tips, JJExpat. I am surprised to hear that the Flower Market area is quiet. Do you live in a Chinese-style apartment (tong lau)? That area is very convenient with all the shopping streets around and it is cheap. So I will look into it.

I have a new question: Does anybody know how housing allowance works? How exactly does it help you reduce taxation, if any?

[PDLM]

Housing allowance is explained in detail here:
http://www.ird.gov.hk/eng/pdf/pam44e.pdf

[PA-Sea]

Holly Cow, HKD40,000 is about 5000USD a month that is my pension that's a lot of mula! My wife wants to relocate back to Hong Kong after I retire for good but that might be too high a price to pay for fish balls!

[carang]

Hk is the LAST place i would consider for retirement!!!!

[normad]

PA-Sea:
Some things in Hong Kong are just priceless, including fish balls

[coolgirl]

7-8k for the rent - 700sqft, 3 bedrooms.

Expatriate, where would this be located? So far from the forum, it's hard to find something below 15K...

[jimbo]

Expatriate, where would this be located? So far from the forum, it's hard to find something below 15K...

Far from it, Plenty of places are less than 15k.

Sai Kung you can get 700 sq ft apartments with balcony for 6k.
Other places in the new territories are even cheaper for example 700 sq ft apartment in a village house in Tai Po for less than 4k.

Not everybody can afford to live in mid levels etc.

[Mat]

Below 10 K in the NT you can easily get on of those flat in big complex with swimming pool,, tennis....and between 600 and 800 sq ft.

In this forum, most or at least a fair number of ppl are under Expatriate package. Therefore the companies pay their flat and they can afford a 30.000/50.000/100.000 HKD flat in midlevels, the peak or repulse bay..

Keep in mind that a fair number of ppl earn less than 20.000 HKD a month, so definitely you can find flat for less than 15K

[hospro]

you will be fine with 20K a month in Hong Kong after rent. Save atleast 5-10K a month! Do not go out to much, only weekends!

I am average spending 500 a day for 2 persons! I am European and dine outside every other day! Not much Chinese, more Thai, Italian average 200$ per night!

Please be aware of the Tax you have to pay! Do not take to much taxis, use Octopus Cards!

phone is very cheap, normally in Europe you spend 100 Euro a month here maybe 100 HK$!

You need to adjust and everythig in Balance!

Cheers,
Maurice

[coolgirl]

The Merton is something I strongly recommend! I absolutely love the apartment Im going to rent starting next month!!! It's 8K for 400 sq. ft, but it's conveniently located in Kennedy town, near Central relatively. And I have a partial sea view and it's in a very high floor

Yeah, it's wise to budget and save On a normal office day I only allocate HKD 100 for all expenses - food and transport. I just add a little bit more if my office mates want to eat out - then add 50-100 more, but i want that to be occasional!