How much does it cost to rent a flat in Hong Kong?

How much does it cost to rent a flat in Hong Kong?

The minimum rent in Hong Kong is about 15,000 HKD (1,900 USD) per month for a simple one-bedroom apartment further away from the center. If you wish to live closer to the center or rent a bigger place with more amenities expect to pay at least 20,000–30,000 HKD (2,550–3,850 USD) per month and more.

Is Hong Kong expensive to rent?

Prime rents in Hong Kong averaged US$6.7 per sq ft at the end of 2020, meaning a tenant with a budget of US$10,000 per month would be able to rent less than 1,500 square feet.

Why is rent in HK so high?

Low Supply, High Demand On one hand, Hong Kong’s housing astronomical costs area a simple case of supply and demand. The city ranks as the fourth most densely populated among sovereign states or territories , with more than seven million residents spread across 1,106 square kilometers (427 sq miles).

Is it cheaper to live in Hong Kong?

Hong Kong is the world’s most expensive city to live in as an expat for the second year in a row, according to a new study. New York and Geneva took second and third place in the rankings.

What salary do you need to live in Hong Kong?

You should allow for HK$30,000 to HK$50,000 (US$3,900 to US$6,500) per year for other living costs, including food, leisure, transportation, and personal items, depending on how extravagantly you plan to live.

Is Hong Kong expensive to live?

How much is an apartment in Hong Kong?

How expensive is housing and accommodation in Hong Kong?