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Salary for a single person

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  1. #11

    Very true. I have been looking around recently for friend coming in from overseas, and many units empty for 4 months + and you dont need to offer anywhere near asking rent as demand is so low (of course you need to ignore the agent speak......I have shown 4 people round today already!, I think prices will rise next month! etc.....)

    shri likes this.

  2. #12

    Join Date
    Oct 2012
    Posts
    6,544
    Quote Originally Posted by jdmbrccls:
    Hi guys,

    Have received my comp package offer today & they have presented a salary of $43,000 a month with 13th month payment. The office is based in Wan Chai but I’m not too fussed about a slight commute as long as there is an expat community! Is this salary enough to cover cost of living & give me an opportunity to travel too?

    thanks!
    You need to watch out about something, though: on arrival you need several times your salary in savings to get set up. Apartments will want large deposits. Consider asking your company for an advance?

  3. #13

    Join Date
    Dec 2019
    Posts
    948
    Quote Originally Posted by AsianXpat0:
    How are you all finding these places at these rentals?! When I lived in Kowloon my psf on similar sized places was higher than yours, let alone on HK island!
    I definitely found a good deal with my current place. Rent got increased by only 500 bucks when I renewed my lease last month. Maybe someone hung himself in my bedroom or something...
    AsianXpat0 likes this.

  4. #14

    Definitely negotiate your rent, I’ve seen some decent deals, and you could bargain even cheaper. Depends on what your requirements are. A lot of people live on a much lower salary, and a lot also live on much more. It’s worth a go if you like Hk, the busy nature of it and want an adventure. If you like peace and quiet and a relaxing environment, then I’d question that salary a lot.


  5. #15

    Thanks everyone! I’ve browsed online and I certainly understand the definition of ‘shoebox’ haha - I don’t have high expectations of size as long as the place is well-kept. Is rent negotiation a widely done thing? I.e is it a well known expectation that the price will be knocked down?

    For the deposit, my company are paying for accommodation for 2 weeks then giving me a one-off payment to cover moving costs/support with rent but I have savings that can be used if needed for a deposit. The only thing I am concerned about is provisional tax - how much will this impact me in the first year?

    Elegiaque likes this.

  6. #16

    Join Date
    Dec 2002
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    薄扶林
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    If you put aside 15% of your income for tax, the payment dates generally align for the provisional tax... I.e. you are not really paying it in advance.


  7. #17

    Join Date
    Jul 2017
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    Dubai
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    Quote Originally Posted by shri:
    If you put aside 15% of your income for tax, the payment dates generally align for the provisional tax... I.e. you are not really paying it in advance.
    In reality, at that income level, you're not actually going to pay anything close to 15%
    shri and Morrison like this.

  8. #18

    Join Date
    May 2011
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    Sai Kung
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    Quote Originally Posted by shri:
    If you put aside 15% of your income for tax, the payment dates generally align for the provisional tax... I.e. you are not really paying it in advance.
    almost certainly the best advice to anyone new to HK and maybe for the first year put aside a little more than that to avoid any nasty surprises on the following year’s provisional assessment.
    SometimesInHK likes this.

  9. #19

    Join Date
    Dec 2002
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    薄扶林
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    48,142
    Quote Originally Posted by shree711:
    In reality, at that income level, you're not actually going to pay anything close to 15%
    You're right OP look up the ird tax calculator

  10. #20

    Join Date
    Jul 2016
    Posts
    186

    First year is heavier tax, because it's current + provisional. Sensible to put aside 15%. Yes it's normal to negotiate the price (down) with any landlord. Not all of them would agree though.

    Morrison likes this.

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