Posted by
Ed
19 yrs ago
Many expats are giving housing comparable to what they lived in back in their home country - which costs big money in HK.
Please support our advertisers:
I don't think fat pay checks are just for bankers. There are plenty of people who have set up businesses that are on lovely salaries. recruiters earn a lot, property types, medicos, lawyers and entrepreneurs all earn lovely wages. I met a sweet Scottish couple the other week and neither work and are in the most fantastic apartment on the peak - trust fund babies. very jealous!!
Also its hard to say what someone earns just because they spend 75,000 per month on their housing, As has been said by mangotango some get subsidized, others just prefer to spend more on their home as that is their priority.
Suffice to say, many people are enjoying the boom of HK and PRC and making the most of it.
Please support our advertisers:
I might be wrong, but I still have the thought that there is a maximum 1/3 of total package rule for the housing allowance? in such case, you can assume someone with a 75K housing allowance should get a minimum of 225k package.
Please support our advertisers:
i never heard that rule. Maybe that is related to the tax dedution that you can claim only. But from my understanding, companies are free to negotiate any amount of housing to their employers and come to think if it, my husband's allowance is over one third.
Please support our advertisers:
yes, 1/3 seems to be the max you can claim at lower tax rate.
Please support our advertisers:
2006
19 yrs ago
Expat housing benefit is often set according to family size - not income. Below managing director level at one company I know, all single staff get 50,000 and all married staff get 75,000. The basic annual salary levels for those getting 75,000 varies from 750,000 to 2.5mn.
Please support our advertisers:
I would love to know what types of firms still give out such large (75k/month) housing allowances. Western banks that I am familiar with hardly give any by comparison.
Please support our advertisers:
It's the mainly the deal makers and the fund managers on huge income/allowances, right?
Please support our advertisers:
Totty
19 yrs ago
SO what type of people can afford the 250K-300K places as advertised in Square Foot?
Please support our advertisers:
My flat costs 84k, inclusive and is paid for as part of a package. Monthly salary is 156k, paid in HKD. I do not care about cars, clothing and most material goods.
Please support our advertisers:
You must be logged in to be able to reply.
Login now
Copy Link
Facebook
Gmail
Mail