Hong Kong is one of the most exciting, densely populated cities in the world. It is a true cultural melting pot where east meets west and the opportunities seem endless. Relocating to Hong Kong, however, will require adapting to life in any foreign country. Which can be a daunting process followed by feelings of anxiety. But we can help calm those nerves, with our list of things to know before Hong Kong relocation. Welcome to the 852!
1. Rent is extremely expensive in Hong Kong
By now it’s common knowledge that Hong Kong is the most expensive city in the world to live in for ex-pats. So the rent budget is an important factor to know before Hong Kong relocation. If you want to rent a one-bedroom apartment in the city center you will need to pay $16,551. While a three-bedroom family home is a whopping $39,800!
But there are some creative ways to overcome this obstacle and find more affordable accommodation. This is one of the main reasons why some people opt for moving to one of the many outlying islands such as Lantau, Cheung Chau, or Lamma. And we think they are pretty sweet places to live.
2. You Don’t Have to Be Rich to Enjoy it
Despite our previous point, the good news to know before Hong Kong relocation is that you don’t need to be a millionaire to enjoy life in Hong Kong. From visiting temples to hitting the beach, or relaxing in a beautiful garden, you’ll find plenty to keep you entertained. Some of the city’s most popular freebie hangouts are Hong Kong Park, Chi Lin Nunnery, Ten Thousand Buddhas Monastery and Big Wave Bay. Also, any of the public galleries and museums are free on Wednesdays, which is good to know before Hong Kong relocation.
3. Things to know before Hong Kong relocation: Tax is among the lowest in the world
While rental prices in Hong Kong are the highest in the world, personal and corporate tax is one the lowest, and the tax regime is fairly simple and predictable. Just like our storage unit Hong Kong services! This is excellent news if you are moving to Hong Kong for work or business. Or even if you’re coming from a country with particularly high tax! Better still, you should know before Hong Kong relocation that actual tax bill is often even less after various deductions and depreciation allowances. You will be able to pay it in two installments, usually between December and March. This system gives you plenty of time to budget it into your annual finances.
Things to know before Hong Kong relocation: You won’t believe the humidity!
If you don’t like hot or humid weather, you should know this before Hong Kong relocation. Because you will definitely need to prepare yourself for when summer hits the 852! Say goodbye to good hair days between the months of May and August, because afternoon temperatures rise up to 30°C and humidity reaches a whopping 100 percent!