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If I Were To Move to Hong Kong Today (Plus Cost of Living)

This article is originally found here: https://www.globalfromasia.com/if-i-were-to-move-to-hong-kong-today/

 

Thinking to move to Hong Kong?

Wondering what the prices are and how much you would need to live here – then today’s guide is perfect for you.

Let’s discuss what action steps and budget we would need to move to Hong Kong today.

Update April 2017: Prices have changed since writing this piece, there isa great comment in the bottom about recent prices. Please add your feedback to help others too.

I have had a few people ask me what would I do if I had to start again in Asia – in particular if I were to move to Hong Kong. This article I will cover from the travel, to the living, networking, to the work I would seek.

I hope this helps…

Not only the newbie, but maybe even those who are in Hong Kong now and wondering what they should do to better get into the market.

As always,

Let me know if you have a suggestion or different viewpoint on these points.

Flying to Hong Kong

Getting to Hong Kong is pretty easy from anywhere in the world. The airport (HKG) is one of the biggest and best in the world, and has direct flights from most major cities around the world.

It was the first destination I flew into when I came in 2007, and the one I use often even if my final destination isn’t Hong Kong. So for those newcomers to Asia, I’d recommend spending some time in Hong Kong, even if it is a short layover.

So those looking to move over here – I recommend spending a few weeks first before making the longer term decision. I know this may not be a workable option for some due to paying for flight costs. While you may not plan to go back to your home country right away, I would still recommend booking a round trip ticket for as far out in the future as possible. Just pay the extra fees to change your flight if you want to come earlier. When I first came, I booked my return ticket six months in the future, that way worst case, I could just take the return flight after six months and not come back.

But the real reason to use round trip instead of one way is normally the price is much cheaper. Not sure the logic behind it. I was originally looking for a one way ticket to Hong Kong from Newark, and it was approximately $1,200 US dollars. Then I switched the online booking for a return ticket, with my return flight months in advance and it came out to be about $800 US dollars – that is both going there and coming back!

So if you’re prepared to come out here and set on booking a flight, I’d also try to get it earlier than later. I try to book flights at least a month in advance, but lately have been doing it even as early as five or six months to get the best price.

Once Landed in Hong Kong

But if you’re here for the long term, maybe you can find a place on Airbnb for a week or two. You may want to keep your options open before signing a six or twelve month lease (which we’ll cover below). You may also want to do some business networking and find some hidden deals.

Related:
You can read my extensive “Hong Kong Business Travel Guide” post for the nitty gritty on your first few days in Hong Kong. It should help you for the first few days.

The main point is, don’t stress out. Hong Kong is a fast paced environment so just be mentally prepared. You may want to settle this all before you fly out to HK in the first place. I know all want to feel secure and settled before we fly to the other side of the world. But if you do, I would try not to book anything too long term as once you arrive it may not be the location or setup you like.

Where To Live in Hong Kong?

This is a blog post in itself that I am working on, but let me give first time visitors here some highlights. Hong Kong housing is one of the highest in the world. The prices are high to rent as well as buying. Prepare to live in an apartment about the size of a Manhattan apartment, if not smaller.

I have two tips here, does location in Hong Kong matter? Do you need to be near the central business district and all the Western nightclubs? Or are you willing to live out in the more local Hong Kong districts that is local and residential? There are a few factors to consider in this decision making.

1. Do you need to live near a lot of other westerners?
2. Do you have to visit central business district often for visiting company offices or your job?

You’re an Internet entrepreneur that can work anywhere? Want to get the exposure of living in the local Hong Kong districts – you can save a lot of money on rent. Let’s give you some ranges, but first, do you need your own apartment or can you handle living with roommates?

If you want to live in your own apartment, its going to cost at least $1,000 US dollars a month for a small place in Kowloon or in the outskirts. You can find a small apartment in downtown Hong Kong, like I had in 2011. My bed was so small that I had to sleep diagonally, and I could barely walk inside, it was an box. So it depends on what you can handle – if you can handle roommates, maybe you can get as low as $700 US dollars a month for your own bedroom.

Looking to find some short term stays? Check out Sleep Here HK. They have various offerings to choose from on a regular basis.

Business Networking in Hong Kong

There are tons of events and networking you can do in Hong Kong. Every day there is a business event or entrepreneur event to choose from these days. I’ll try my best to give a few different options and sources to find these events out.

Startups HK. The original group for startups and entrepreneurs to network in Hong Kong. They keep on top of the latest events with their event calendar and email list.

Startup Grind Hong Kong. A global network of entrepreneur meetups, there is a regular meetup in Hong Kong as well.

Tons of Coworking Spaces hosting events. Hong Kong has a massive amount of coworking spaces, and they are always hosting events.

By plugging into some of these above, you will meet enthusiastic and connected people. They can help you get on the fast track to potential business partners, resellers, suppliers, and clients. Keep an open mind.

How Much Runway (Cash) Should You Have Saved Up?

Runway is a common startup term for how much money you need before you “take off” and are able to be cashflow positive. More is always better, rent is the majority of your cost. As stated earlier rent and real estate in Hong Kong is through the roof.

 

Continue reading the rest of the article here: https://www.globalfromasia.com/if-i-were-to-move-to-hong-kong-today/

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About the Author
By: shadstone
About the Author:

American internet entrepreneur in China.
https://www.globalfromasia.com

Company: Global From Asia
Home Country: United States
Job Title: Blogger
Location: Futian District
Weibo or Twitter Link: http://twitter.com/michelini
Member For: 12 years 31 weeks ago