Relocation
Despite the effects of the Asian financial crisis of 1997, the cost of living in Hong Kong remains high. But there's more to it than just the cost of housing and basic goods. The flashy Hong Kong lifestyle itself is a high-maintenance one that includes designer clothes, frequent dining out and entertainment.
Despite the cramped living conditions and fast-paced lifestyle, Hong Kong is a vibrant city with a distinct personality, combining old Chinese traditions and 150 years of colonial influence. Its skyline, with towering skyscrapers set against majestic mountains, is immediately recognizable.
Hong Kong is indeed a city of contrast, and beyond the cosmopolitan face of Central lie quaint fishing villages, relaxed seaside areas, farmlands, and outlying islands where cars are prohibited.
Housing
With its limited land area, real estate provides the wealth base of many Hong Kong individuals and companies. While properties have become more affordable, housing rentals remain among the highest in the world.
Rents on Hong Kong Island can range from HK$8,500 a month for a flat in Aberdeen to HK$200,000 for a detached house at The Peak. On the average, prepare to pay HK$15,000 for a flat. Apartments and homes in the New Territories and in outlying islands like Lamma are cheaper, but obviously the commute takes longer.
Remember that there's a security deposit equal to two months rent (which includes management fee and government tax) to be paid in advance, plus legal fees and agent fees, which itself could be add up to one-month's rent. There are also deposits required for utility connection.
Foreigners in Hong Kong tend to live either in high-rise condominiums, which usually have recreation facilities such as a pool or tennis court, or low-rise apartment complexes with a small courtyard. Among the popular locations are Mid-Levels, which is walking distance to Central, Happy Valley and Jardine's Lookout near Causeway Bay, and Pokfulam on the western part of the island. Apartments in Hong Kong are generally cramped, especially the kitchen area, so that eating out has become a necessary part of life in Hong Kong.
While searching for the right apartment, it might be best to stay in a serviced apartment that can be rented on a daily, weekly or monthly basis. Most are located in Central and Wan Chai and can go for as low as HK$10,000 a month depending on the floor area and facilities.
Education
Since Hong Kong is positioned as an international business center, the government acknowledges the importance of international schools. Hong Kong has dozens international schools offering American, British, Canadian, French, German, Japanese and Australian curricula, many of which operate up to the secondary level.
Apart from private schools, the government also established the English Schools Foundation specifically for children whose first language is English. These are co-educational schools that broadly follow the British curriculum but are adapted to the local context.
