# Hong Kong is named most expensive city for expat accommodation



## Editor (Aug 20, 2009)

Hong Kong is the most expensive city in the world for expats to rent an executive apartment, according to new research. Despite rents falling between 2% and 3% last year, Hong Kong still has the costliest rental sector with an unfurnished three bedroom apartment averaging US$11,550 a month, the data from international HR provider ECA [...]

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Please come back to discuss the story here in this thread.


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## Supernoodles (Feb 4, 2013)

What is an 'executive' apartment ? An apartment that only the 1% would live in ? hmmmm! 

I loathe these types of articles, if you took just a few minutes to think about this, you'd come to the logical conclusion that it can't be possible that every expat in Hong Kong is earning upwards of $120k, a pilot doesn't even necessary earn that much.

These articles select the largest apartments, on the highest floors, of the most expensive building, in one of the most expensive areas to live in and use THAT as their data to average from when in reality, expats live all over HK, sure most are concentrated on HK Island, but most who would of been here 1+ years would of learnt that they will get more for their money if they move out of the Midlevels area or out of HK island (whether they choose to move or not is another thing but they're not ignorant of the facts).

I am not in anyway saying HK isn't one of the most expensive places to live at all, but these figures are just misleading. It is like an article saying the average rents in London are 10k pounds pm but only choosing rentals for 3 bedrooms in an area like Chelsea. 

I think rents are comparable to London (not the UK, which some people mistakingly compare, apples to apples, not apples to oranges). The differences are, that in London you have to worry about living in a the wrong street/area so you can't just choose by just price and quality, in HK you don't have to worry about this. 

Another thing to add (in comparing to London, UK) we don't have council tax to pay here and utilities are quite a lot less as is income tax....and public transport is miles cheaper (and cleaner, more comfortable etc) than the p. transport in London.
All in all, 80% of expats I'd estimate would agree that you have more disposable income at the end of each month when comparing like for like (I can only speak for London VS HK as I've not lived in NYC etc).

Where expats WILL find it is more expensive in Hk, is if they compare foods to 'back home', obviously specialist/niche imported cheese that only a select group of people are going to eat is going to cost you, if you buy 'standard' cheese, it will still cost a bit more but not anything crazy (i.e. $35-50hkd, instead of 2 pounds/$25 hkd etc). 

Here is an example, many of the expats that come to HK are teachers, do you really think the majority (if any) of teachers earn enough to warrant paying nearly $90hkd pm ?

REAL life case in study - I used to live in a 3 bedroom flat with pool, gym, concierge etc for just shy of $10k pm, that was 2 years ago so maybe it is $12-14k pm now. That was in the N.T, we had lovely beaches and it was 45 mins to Central, we now live closer to central but in a smaller flat (2 bedroom) and the rent is $12k pm) with better amenities. LOTS of expats lived in both places.


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## Duckexpat (May 8, 2014)

I know this is an old thread but i do agree hong kong is back brakingly expensive for rent.

Few places will charge you £5000 a month for an average 3br flat, with landlord increasing the rent inflexibly every two years by anything up to 40%
Sure you can bash them down, but such hassle.


It is a landlord city. Theyre laughing all the way to the bank, big landlord or small landlord.


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## littlemiss (May 27, 2014)

Oh no! So expensive! I am about to move to HK and cannot believe the prices! Guess I am spoilt living in Berlin!


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## kimwy (Sep 25, 2011)

It is a big hurdle to having a settled life here in HK. Even if you find a reasonably priced flat, as we did, come renewal time 2 years down the line the Landlord will sting you for a huge increase. 

Ours demanded 35% in January, eventually we got him down to 25%.

As a family the last thing you want is to be moving every couple of years, so we took the hit, but next time we will have to look further out in the New Territories.

This is what has been happening for the last 2-3 years. Expats are being pushed out of the Island to Kowloon as they can no longer afford the sky high rents. This means the rents in Kowloon are being pushed up. So expats start to move further out to the New Territories.

It is also because of the stamp duty that was introduced a couple of years ago. Non-permanent residents pay an additional 15% stamp duty on the purchase price of a property. Given the already crazy prices for residential property an extra 15% makes it impossible for the average expat to buy.


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## Amyy (Jul 28, 2014)

"It is also because of the stamp duty that was introduced a couple of years ago. Non-permanent residents pay an additional 15% stamp duty on the purchase price of a property. Given the already crazy prices for residential property an extra 15% makes it impossible for the average expat to buy."

I think it is a good system to protect the local. I am from Vancouver, but the price for housing is still crazy. The average locals can't really buy any more.


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