Cost of living in Hong Kong
Hong Kong is a vibrant city known for its skyscrapers, bustling markets, and rich cultural heritage. Understanding the cost of living here is crucial for anyone planning to move or visit.
This guide provides a detailed breakdown of expenses in Hong Kong, covering everything from dining and groceries to housing and transportation.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $8.35 on average, with a range between $6.42 and $15.42.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $64.25, with prices ranging from $38.55 to $122.07.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $6.33, with a range between $5.14 and $6.42.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $3.85 to $10.28, imported beer $3.85 to $10.28, cappuccino $3.21 to $6.42, and Coke/Pepsi $0.9 to $2.18.
Grocery Prices
- Milk - Milk is priced between $2.31 and $3.85 per liter, averaging $3.15.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $1.54 and $3.61, with an average price of $2.31.
- Eggs (Dozen) - A dozen eggs range from $1.85 to $4.63, averaging $3.56.
- Fruits (e.g., Apples, Oranges) - Apples cost $1.93 to $6.42 per kg, while oranges range from $1.28 to $7.71 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $1.27 and $3.85 per kg, and lettuce costs $1.03 to $3.6 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $1.28 and $2.57, with a monthly pass priced between $57.18 and $89.95.
- Fuel (Gasoline) - Gasoline is priced between $2.44 and $3.34 per liter.
- Taxi Fares - Taxi fares start at $3.47, with a cost of $1.22 to $3.47 per km and $13.11 to $20.05 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $1541.93 to $3597.83, averaging $2188.59.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1156.45 to $2312.89, averaging $1571.34.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $3212.35 to $7709.63, averaging $4550.11.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $2312.89 to $5139.76, averaging $3076.84.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $20746.45 to $38726.71, averaging $27403.63.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $12849.39 to $25698.78, averaging $17065.05.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $136.52 and $385.48, averaging $236.58.
- Internet - Internet services range from $12.85 to $38.55, with an average cost of $22.09.
Cost of Living Rankings
Hong Kong ranks 1st on the Cost of Living rankings in Hong Kong (China). The cost of living indices for Hong Kong (China) are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in Hong Kong (China), covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
Restaurants
Restaurants
Markets
Markets
Transportation
Transportation
Rent Per Month
Rent Per Month
Utilities (Monthly)
Utilities (Monthly)
Sports And Leisure
Sports And Leisure
Clothing And Shoes
Clothing And Shoes
Buy Apartment Price
Buy Apartment Price
Salaries And Financing
Salaries And Financing
Childcare
Childcare
"Key Takeaways"
Hong Kong is known for its high cost of living, particularly in terms of housing and dining. Rent prices in the city centre are significantly higher than outside the centre.
Transportation is relatively affordable, with public transport being a cost-effective option. However, owning a car can be expensive due to high gasoline prices.
Grocery prices vary, with some items like milk and eggs being more expensive compared to other cities. Dining out can also be costly, especially in mid-range restaurants.
Conclusion
Living in Hong Kong can be expensive, especially when it comes to housing and dining. However, the city offers a vibrant lifestyle with numerous amenities and opportunities.
For those considering a move to Hong Kong, it's important to budget carefully and consider the cost of living in different areas of the city. Opting for public transportation and being mindful of dining choices can help manage expenses.