What Is The Average Income In Hong Kong?

How much money do you need to live comfortably 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.

How much do things cost in Hong Kong.

Check out these prices, for your reference..

What is considered a good salary in Hong Kong?

A HK$1.5 million yearly income would mean a monthly salary of HK$125,000. According to the Population Census last year, only 4.2 per cent of the working population earn more than HK$60,000 a month, the highest category in the report. Hongkongers on average earn HK$12,800 per month.

Why is HK housing so expensive?

It’s no secret Hong Kong is one of the most tax-friendly economies in the world. One of the reasons the government can keep taxes so low is because a large chunk of its revenues come from land sales. … In fact, if property values dropped too much, the government could even have to rethink its tax revenue system.

What is double pay in Hong Kong?

Hong Kong employers often provide employees with an end-of-year payment/ bonus. This is sometimes referred to as a 13-month payment, double pay, or end of year bonus and is usually paid out during the Chinese Lunar New Year period.

How much money should I bring to Hong Kong?

Travellers in and out of Hong Kong will need to declare if they are carrying more than HK$120,000 (US$15,300) in cash, after a new law to tackle dirty money comes into force in mid-July.

How much is an apartment in Hong Kong?

Property Prices in Hong Kong, Hong KongRent Per Month[ Edit ]Apartment (1 bedroom) Outside of Centre12,246.75 HK$Apartment (3 bedrooms) in City Centre36,302.82 HK$Apartment (3 bedrooms) Outside of Centre23,604.94 HK$Buy Apartment Price[ Edit ]7 more rows

How do you calculate daily pay?

Another calculation method commonly used is the ‘calendar day calculation method’. This method calculates an employee’s day rate by dividing their monthly salary by the number of days in any given calendar month. All methods are perfectly acceptable for payroll purposes as long as they are used consistently.

What is the average salary in Hong Kong for expats?

US$178,706The global Expat Explorer Survey, which comprised 22,318 respondents from 163 countries and territories, found that expats in Hong Kong earn an average salary of US$178,706 (HK$1.4 million), which is US$72,000 more than the average expat globally.

How do I calculate my daily salary in Hong Kong?

divide by how many work days in the month. Then you get your daily rate. Divide by how many work days in the year. Then you get your daily rate.

What is the average house price in Hong Kong?

$1.2 millionAccording to the report, the average price of a home in Hong Kong in 2019 is more than $1.2 million.

How much does it cost to live in Hong Kong per month?

What are the general living expenses for Hong Kong? How much can you get by on?Living expenses in Hong Kong (excluding rent)Hong Kong average costSingle person, per monthHK$6,865Single person, per yearHK$82,380University student, per monthHK$5,2984 person family, per monthHK$24,4721 more row•Aug 31, 2017

Where do most expats live in Hong Kong?

So with all that in mind, the following 7 areas of the city are the best places to live for expats in varying circumstances.Happy Valley/Jardine’s Lookout – Upmarket Living. … Kowloon Tong & West Kowloon – Good for Families. … The Mid Levels – Wonderfully Central. … Repulse Bay & Stanley – Offering the Beach Life. … The Peak.More items…•

How is maternity leave calculated in Hong Kong?

The daily rate of maternity leave pay should be calculated as four-fifths of the average daily wages earned by the employee in the preceding 12 months from the commencement of the leave period. If the employee has been employed for fewer than 12 months, the calculation should be based on that period.

Is Hong Kong an expensive place to live?

Hong Kong ranks top among 10 most expensive cities to be an expat. Hong Kong has ranked as the most expensive city to live and work overseas in, according to a new report highlighting the economic fallout of the coronavirus pandemic on the expatriate market.

What is the average rent in Hong Kong?

The average rent for a one-bedroom apartment in Hong Kong can range from 12,000 to 20,000 HKD (1,500 to 2,500 USD) or more per month. On the upside, most apartments easily meet the highest standards of living.

How do you pay rent in Hong Kong?

You can use a tone phone to dial 18031 or login to www.ppshk.com to pay rent any time. With a PPS account, you can also pay rent through the PPS by Internet. After logging in www.ppshk.com, simply follow the instructions to pay your rent.

Is Hong Kong expensive to eat?

While meal prices in Hong Kong can vary, the average cost of food in Hong Kong is HK$205 per day. Based on the spending habits of previous travelers, when dining out an average meal in Hong Kong should cost around HK$82 per person. Breakfast prices are usually a little cheaper than lunch or dinner.

What is the most expensive house in Hong Kong?

The asking price is HK$3.8 billion (approximately US$447.8 million), making it the most expensive home currently for sale in Hong Kong, surpassing the 28 Gough Hill Road property Pansy Ho bought last year for HK$900 million (approximately US$114.6 million).

What is considered middle class in Hong Kong?

A Hong Kong household earning HK$55,000 a month or above could be classified as middle class, Yip said. Yet only about 10 per cent of the 2.4 million households in the city earn that much, according to government figures (an average household has 3.2 persons).

What is a good salary in Hong Kong 2020?

As of January 2020, the new minimum salary is of HK$ 37.5. It is also a good figure to base you research on, if you are coming to HK as an expat. The current average salary per month is 19100 HKD (2430 USD) for male workers and 14700 HKD (1875 USD) for female workers.

What is the living cost in Hong Kong?

What are the general living expenses for Hong Kong? How much can you get by on?Living expenses in Hong Kong (excluding rent)Hong Kong average costSingle person, per monthHK$6,865Single person, per yearHK$82,380University student, per monthHK$5,2984 person family, per monthHK$24,4721 more row•Aug 31, 2017