Thanks for the suggestions everyone, it's great to hear other suggestions for locations.
I'll be in Hong Kong until probably the middle of August, and then returning probably early in September, so hopefully I won't be paying for a flat I'm not in for too long.
Salary wise when you take the housing allowance into account I'm actually on $HK317,000 a year. Which calculates at around 21,000. After HK tax (calculated with my housing allowance) this calculates at around 20,000. My current UK salary is 23,000 but after UK tax this calculates to around 17,500. So it actually looks like a small raise, however I'm sure this will be eaten up by my rise in living costs.
To be honest I'm not exactly in a position to demand more. I'm only out of university a year and not hugely experienced. I'm coming over more for the experience than any financial gains and I'm happy as long as I'm not in the poverty zone!