We know that living in London is expensive. We also know that living in Hong Kong is expensive. But is it the same kind of expensive?
According to Expatistan, a cost of living comparison website and according to their data, the cost of living in London is roughly the same as in Hong Kong. Generally speaking, food is 13% more expensive in Hong Kong than in London (quite shocking, isn’t it), and this is with groceries and dining out taken into account. Even fast food comes in at more or less the same price. Comparing basics like milk, eggs and cheese, these can be almost 150% more expensive in Hong Kong than in London, due to popularity and availability. Fruit and vegetables are also more expensive, including potatoes which come in at a whopping 245% difference (potatoes cost around 86p but in Hong Kong can top three pounds).
Hong Kong also trumps London when it comes to housing. On average, prices are 43% more expensive in Hong Kong than in London. Based on an 85㎡ apartment, you can expect to pay around HK$42.000 whereas the same apartment in London will cost almost half that. However, utilities such as gas, water and electricity is significantly cheaper in Hong Kong by about 17%, resulting in a saving of about £30 a month. Internet costs are about the same, and electrical appliances are slightly more expensive in London, despite Hong Kong being a hub for electrical items. The only considerable difference is when you decide to hire a cleaner, with Hong Kong being about half the price.
However, don’t fear that you have made a terrible mistake in moving to Hong Kong. Transportation is 42% cheaper than in London. Petrol and cars are more expensive, but who drives in Hong Kong anyway? A monthly transport pass is less than half the cost of one in London (HK$517 compared to £139 in London). Unfortunately, taxis still cost about the same, with Hong Kong being a few quid cheaper in general.
With personal care and entertainment coming in close with a negligible difference, it’s fair to say that there is no great difference in price between living in London and living in Hong Kong. Of course, the real benefit of living in Hong Kong is that you’re living in Hong Kong. So next time you start to feel that your bucks don’t get you quite as far as they should, remember that you are living in one of the most vibrant cities in the world and that is quite simply priceless.