Housing Allowance

[hkdman]

Hi All:

I hope you can help me with this question. I am an American looking to move to HK on a company transfer. My company is a financial service company (brokerage firm) and I am a VP with 12+ years of experience. Initially, I was thinking of expecting about 40k HKD (or 5,000 USD) for housing allowance. However, I am wondering if my estimate is way too low.

I will be moving with a wife and 2 kids. I would like to have an apt with around 2000 sqft of living space. I realize that apts come in all shapes and sizes, however; I would like something in one of the better areas (i.e. Tai Tam, Repulse bay, etc.) with nice amenities such as a pool and gym. I would also like a sea view. Anythoughts on reasonable prices to ask / expect for housing allowance?

Thanks much!

[Mat]

Hi All:

I hope you can help me with this question. I am an American looking to move to HK on a company transfer. My company is a financial service company (brokerage firm) and I am a VP with 12+ years of experience. Initially, I was thinking of expecting about 40k HKD (or 5,000 USD) for housing allowance. However, I am wondering if my estimate is way too low.

I will be moving with a wife and 2 kids. I would like to have an apt with around 2000 sqft of living space. I realize that apts come in all shapes and sizes, however; I would like something in one of the better areas (i.e. Tai Tam, Repulse bay, etc.) with nice amenities such as a pool and gym. I would also like a sea view. Anythoughts on reasonable prices to ask / expect for housing allowance?

Thanks much!

40 K might be a bit tight based on your requirements. 55/60 K should offer you more choices in those area for the size and facilities you expect.

[hello_there]

Expat housing allowances are both varied and negotiable. If you don't think that 40k/ month will get you what you want, ask for more. Its pretty unlikely to find a 2000sf sea view for 40k/ month. But, you shouldn't necessarily expect your company to pick up your entire housing tab either. Quite a few people pay the difference for a nicer pad. But, its definitely worth pushing for a larger package, particularly given your relative seniority.

[Sleuth]

My housing allowance is more than yours and I am not a VP and only have one kid.
And you are going to need around 3,000 square foot apartment in order to have your 2,000 square feet of living space.

[hkdman]

My housing allowance is more than yours and I am not a VP and only have one kid.
And you are going to need around 3,000 square foot apartment in order to have your 2,000 square feet of living space.

Thanks so much. May I ask how much you get? This will be my first experience with negotiating an expat deal and I want to make sure that I am asking for the right amount. So far, most of my research is via the internet. I am scheduled to fly out to HK in about 2 weeks...so I hope to have a better feel for prices.

Also, what do you mean by 3000 sqft will get you 2000 sqft of living space? My wife thinks that they count all areas in the sqft (i.e. balcony) whereas I am used to sqft indicating livable space...

Thanks!

[hullexile]

[QUOTE=hkdman;167961

Also, what do you mean by 3000 sqft will get you 2000 sqft of living space? My wife thinks that they count all areas in the sqft (i.e. balcony) whereas I am used to sqft indicating livable space...

Thanks![/QUOTE]

It's livable space if you live in the walls, the area between your flat and the lift, etc.....

[Sleuth]

HK square footage is more like US commercial footage. Find the length and width of the outside walls, multiply and then divide by the number of apartments. From what I have seen you end up with about 2/3 of the square footage.
My housing allowance is HK$54,000/month.

[Tommyknocker]

Expat or local? As an expat with 2 kids etc you should be looking at double that amount. As a local you will get an allowance based on your position in the Company - VP is likely to be 40K to 55K and you pay the rest.

[hkdman]

Expat or local? As an expat with 2 kids etc you should be looking at double that amount. As a local you will get an allowance based on your position in the Company - VP is likely to be 40K to 55K and you pay the rest.

I know this is probably a stupid question...but how do I know if this is an expat deal or local? My company never approached me about the position, however; I made some inquiries and found that this may be a potential match. During the phone call, the hiring manager kept saying "expat" however I have not seen anything that says if this is an expat deal (i.e. from the job description).

[Sleuth]

Is the company a local company or a MNC with an office in HK?