Posted by
mkcmkc
16 yrs ago
Hi, I'm considering a move to HK and was wondering if the kind folks on this forum could possibly assist with some feedback on how feasible it is to live in HK (reasonably decently) on a total salary of c. HKD70k per mth. FYI, I am single (no kids) but would need to cover rent, living expenses, salaries tax and (if possible) save a couple of dollars!
Many thanks indeed for your advice.... Cheers
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70k will get you VERY far if you are single. You can get a nice 1-2 bedroom in a nice area for under 30K. The top tax bracket is 18%. There is no sales tax.
I wouldn't hesitate to come here on that salary.
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While you may not be able to afford a full-time personal truffle chef, you will certainly be able to afford a helper. Since you are single, you may or may not really want/need one, but it sure makes life easier if you eat in more often than not and/or don't want to clean/wash/iron/make your bed/etc...
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As I'm sure you've gathered from our sarcasm, most of us would be happy as pigs in... to have that kind of money. Yes, there are people whose housing budget alone is twice that but they're not normal, ya know?! Don't worry, be happy, get on a plane!
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HK$70K is more than enough out here. As axptguy38 says you should easily be able to find accomodation for the 20-30k range and with a low tax then it's up to you how much of the rest you dedicate to saving and the rest to spending - and HK really welcomes the spend! Definately lots on offer and as a single guy the bar / restaurant / club / outdoor scene is excellent. You're already on twice what I get and I've got a family to support on that...... enjoy it!
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Yes but he can afford a driver. ;)
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LLH
16 yrs ago
I've been here close to 3 years. Rental will probably take up the most. Do save for income tax cos your first tax bill includes previous year, current year and the next year's estimate, all payable in 2 instalments!!
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Sigh........another evidence of HK's Gini Coefficient getting closer to 1!
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Folks, very many thanks indeed for taking out the time to provide all the very useful feedback above. Much appreciated. All the best.
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