Posted by
ebow3d
17 yrs ago
I am new to thid forum. Obviously, just check my post count! :)
Anyway, I am from South Africa, married with two kids, 4 and 6 years old.
Now, I might be getting a job offer from an international architecture firm in Hong Kong. I am an architectural 3d visualizer.
I've done some research on the net regarding both schooling and accommodation. Am I correct if I allow about HKD35 000 per month rent for a two bedroom apartment? That seems ridiculously high! Yet I have not been able to find anything cheaper in any of the online classifieds.
With that kind of rent and private school fees, I would have to get a really good salary to make a decent living there.
I'm hoping that some of the members here have some practicle experience. Can anyone give me some insight, please?
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Ed
17 yrs ago
SG Ed has been hunting high and low for something similar and has been dismayed... he and his wife finally found something in Discovery Bay for about 20k.
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Thanks for the replies.
One more question: If one is to buy a simmilar property, IE: 1000 sq.ft. apartment, what would the price range be? I know that I'm generalising here and prices would vary from suburb to suburb. BUt from what I've seen, prices range from about HK$ 25 million - HK$ 60 million. Is that correct?
Again, that is ridiculously high! My 2000 sq.ft, house, on a 7 500 sq.ft plot, here in South Africa is valued at around HK$ 1.2 million. In the major Canadian cities, a similar house would cost around HK$ 3 million - HK$ 4 million. Thus HK$ 30 million for an apartment in Hong Kong is quite outragiuos.
Any comments/insight on this?
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I hear what you're saying. But still, the selling prices do not make sense, compared to renting prices. For example, an apartment that would rent for HK$ 30 000 per month, sells for around HK$ 30 million. That does not make sense financially.
Also, somewhere on this forum, there is a thread where someone is asking advice on property for investment purposes and the amount he's looking at is around $3 million. Now, if a 2bedroom apartment can go for $30 million, then you're not going to get anything for $3 million.
Is there something I'm missing here?
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the price range in HK is very wide, so you may have mixed up your price references reading through different post here. Basically, the average rental yield will range between 3.5 to 5% in most cases. so, there is no such thing as 30M price being rented out at 30 000 per month, or very unusual situation at best.
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Hi Edbow3d
Yes, you are right that you will need to get a very good salary if you are bringing a family here (high rents, education expenses, inflation etc...). Although taxes are quite low , that advantage is certainly eroded by high rents and expenses should you wish to maintain a western lifestyle. If you are OK with living 45 minutes away from central and are OK with shopping/dining at local markets, then HK is reasonably affordable.
Not sure on your salary expectations, but I'd suggest a minimum of $60K HKD per month to raise a family *and* live a reasonable lifestyle.
I for one would be cautious on buying a place in HK at the moment.
As suggested by Walkup2, get yourself a serviced apartment for a few months ( your company should put you up in one at the very least).
Hope it all works out for you.
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Thanks for all the helpfull replies. Its really good to get an insight from people living in Hong Kong. Much cheaper than going over there myself. :)
At this stage I merely researching as I'm waiting for the company to get back to me.
Our original plan was/is to go to Canada. However, since this possible oppertunity in Hong Kong came about, we've become quite interested in that.
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If you're willing to live outside of the so called expat areas, something a growing number of expats do, prices are a lot more affordable and often the living conditions are better.
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Can you name a few such ares, please?
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ltxhk
17 yrs ago
There are many South Africans living on the south side of Lantau in village houses. 700 sq ft ( a floor) can rent for $4000 - $6000. A whole house (usually about 2100 sq ft) can rent for $15000 - $30000. Kindergartens and Primary on the island, and so kids only need to travel into town for secondary. However, many kids do travel for primary. Sai Kung and Tai Po and surrounding areas are also very popular.
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Itxhk, are you talking HK$ here?
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One more question: Are there any government schools with english medium instruction on Lantau?
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ltxhk
17 yrs ago
There is a YMCA? government school in Tung Chung which is on the north of Lantau Island. About 30 mins from the south side. Not sure if this is primary and secondary or only primary. Have heard "mix" about this school, but it is cheaper than the international schools. There are some international kids attending.
South Lantau has "Lantau International School (LIS)". Many kids attend this school for primary. Fees are a bit cheaper than ESF. Other kids go to Discovery Bay for primary or into HK island (mostly ESF Kennedy School).
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Yet another question: Can anyone reccomend good, cheap temporary accommodation, for a month or so?
It would be for one person only (me). I will need to fly over there, propably end of July, and will need to stay somewhere while I look for a place to rent for my family and me.
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August 3, 2009: Mr. Vincent Cho replied: 11C @ HK$26,000 with 600 sq. ft. and 21B @ HK$19,000 with 400 sq. ft. (gym amenity) inclusive management and Gov't rate. Please call 2833-6107.
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400 days later, I'm happy to say that I've found good permanent accommodation here.
But you go Vincent, advertise your business, lol.
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Dear ebow3d, would you consider living on Kowloon whereas you can get cheaper rent, give me reply if you need help.
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Haha, now is the time to re-visit all those old leads and prospects and ask for the business.... ;)
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