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Another salary question: Is 40K enough for two?

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  1. #61

    Join Date
    Dec 2005
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    40

    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?


  2. #62

    Join Date
    Jun 2005
    Location
    Hong Kong
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    23,217

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


  3. #63

    Join Date
    Feb 2006
    Location
    Currently I am stationed in Alaska
    Posts
    4

    40k!!!

    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!


  4. #64

    Join Date
    Apr 2005
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    Sai Kung
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    8,561

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


  5. #65

    Join Date
    Dec 2005
    Posts
    40

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


  6. #66

    Join Date
    Mar 2006
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    KTK rules!!!
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    776
    Quote Originally Posted by Expatriate:
    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...

  7. #67

    Join Date
    Oct 2005
    Posts
    14,373
    Quote Originally Posted by coolgirl:
    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.

  8. #68

    Join Date
    Jun 2004
    Location
    HK
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    14,593

    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


  9. #69

    Join Date
    Apr 2006
    Posts
    2

    Ok

    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


  10. #70

    Join Date
    Mar 2006
    Location
    KTK rules!!!
    Posts
    776

    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!


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