@thinkingofhk - late in this conversation, but if you're working in Cyberport - take a look at Pok Fu Lam terrace. Nice new building and 5 min bus ride to Cyberport (or 20 min walk).
@thinkingofhk - late in this conversation, but if you're working in Cyberport - take a look at Pok Fu Lam terrace. Nice new building and 5 min bus ride to Cyberport (or 20 min walk).
You don't need 100k for a nice flat especially since your kid is very young and won't need huge amounts of space. it will be smaller than what you are used to in the US (even European houses are smaller to be fair), but you will find you don't need that much unless you plan to entertain and have parties.
Even 30k is more than enough to get a decent 2 bedroom flat, but these are unlikely to have 2 bathrooms. You may need to spend a bit more to get a larger flat if you want that.
If you want all the mod cons, then you should look at new builds. But don't discount the older buildings too if the place is renovated. You will get more space for your money, and you may find something which has more character.
I personally hate the new buildings. The flats are just beige, beige, white and beige...
I am always pretty amazed by what people are spending in Hong Kong (based on this and other threads). To me the key thing is how much are you willing to commute (for instance do you need to go to Cyberport every day)? When we moved to Hong Kong we looked at many areas and in the end decided to rent in Ma Wan / Park Island (as I also fly on a regular basis).
To this day we have zero regrets. Loads of kids/newborns, fantastic clubhouses with all facilities needed, pretty decent supermarket etc. My kid goes rollerskating without fear of being run over by cars, I hear the birds in the morning when I wake up and the commute to Central (typically take the ferry) provides a swift 25 minute commute with seats opposed to the packed MTR's. I sometimes have to go to Cyberport too and that is typically a 15 to 20 minute cab ride from where the ferry starts.
Not saying Ma Wan/ Park Island is the place for you but choosing the right location can bring down living costs considerably: I have a 3 bedroom/ 2 bathroom + helper room / bathroom place of over 1.000 ft gross / 800 Sqft saleable with unobstructed sea view and pay around HKD 25.000 a month. Sure, it is not a huge place by US or European standards but is comfortable enough and larger than most Hong Kong places. As for utilities: electricity is by far the largest utility bill and we pay around 500-600 HKD a month in winter up to 900-1.100 HKD a month in summer.
Friends of ours have places in mid levels and other expensive areas in Hong Kong where they typically pay anywhere between 50K to 80K a month and yeah...that is slightly more convenient in some ways, the apartments are slightly bigger (although some are smaller) and it cuts down on commute when you work in Central but heck... if you pay your own rent why would you throw that away on housing? Instead of doing that I save that money on a monthly basis and invest it.
Don't get me wrong, Hong Kong is an extremely expensive place to rent but with taxes as low as they are it still allows you to save heaps of money if you live smartly.
my experience, after moving from the US - housing costs much more here, space in general costs much more here, everything else is cheaper. or at least, can be. But our tastes aren't that expensive and we like to eat at cheaper places most of the time anyway.
if you're up for that kind of a life, spending a larger portion of your salary on rent isn't necessarily a problem.
we also moved from a house in the US, to an apartment in HK; then for a year, when we moved back into the house, we found it too large. now we're back in an even smaller apartment. turns out we like apartments more. but, you might not.
The Belchers are very convenient but for the cost, the apartments are gross. I saw at least five different apartments last year when I moved here from the states.
For OP, don't forget you should save money on taxes as the first 115k USD should only be subject to HK income tax which is a big savings. I do think if you are doing a senior CTO type role, you should be earning more compensation or you should be getting equity so you are owner who is sacrificing for the higher upside.
With all that said, I recommend moving to the southern part of HK island. Aldo, focus on older apartment building with units recently redone and/or apartments that have been converted from 3 bed to 2 or 4 to 3. Apartments are so much smaller then you even realise so older apartments are typically bigger.
My experience has been different. I have found everything to be more expensive here but I also try to live like I am still home often times tbh. They are right if you are living like a local and only shopping at wet markets and only eating Chinese food, it will be cheaper. If you want to go a western restaurant, the meal will be double or even more than what you would pay in the US.
At least sticker price is the total price here - no need to add tax + tips. Restaurants which have a 10% service charge will state the fact on the menus.