Cost of Living in Hong Kong

Hong Kong is becoming an expensive place to live. While some can afford a million dollar home or two there are still many people who just manage to scrape a living.

A frequent site on the streets are old ladies gathering scraps of paper or soda cans to sell for a few Hong Kong Dollars. Others sell vegetables by corners of streets. Sell is not the right word here as it is illegal for money to exchange hands
without them being licensed. Shoppers can place a few coins down on a mat pick up the food and catch the eye of the elderly seller, deal done.

Those who are a little bit more well off are having to cope with the increasing cost of living. Having a home on Hong Kong island or Kowloon is just too expensive and have to live further afield in the New Territories or on on of Hong Kong's many islands. Even with Hong Kong being quite small there is still and hour or so commute back and forth to work.

The cost of transport is cheap but steadily rising and for those commuting every day those small rises can add up at the end of a month.


House prices are out of control and very few people can now afford to buy a home of any decent size. This turns most not on the housing ladder in to renters that are constantly on the move. There is a tendency for contracts to be for 1 or 2 years then followed by a sometimes massive rent rise. The unfortunate tenants often pack their bags and downgrade to sometime just bigger then a cupboard.

Not only are homes subject to larger rises in rent but also businesses. One unfortunate health club in "Central" was paying HK$1.8 million a month for rent. They have been notified of a rise to - HK$3 million. Often places you frequent for a drink or mean will just vanish from their location. There is no doubt prices are out of control and eventually something has to break.

Image Via Virtual China