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True Cost of Living in Hong Kong (and how to save!)

True Cost of Living in Hong Kong (and how to save!)

If you’ve been keeping an eye on our Journals, you might’ve noticed our post about whether there’s an affordable solution to renting in Hong Kong, or even why you shouldn’t live in a hotel. Hong Kong has time and time again been listed as one of the world’s most expensive cities to live in. As of November, 2020 — The Economist has put Hong Kong in first place next to Paris as the world’s most priciest city when it comes to cost of living, with rent being a big part of that!

So how expensive is expensive?

Whether you’re living in the city already or thinking about moving to Hong Kong, it’s good to understand all the costs that you’ll need to pay. To have a roof over your head, you’ll need to consider the following: Rent, agent fee, security deposit, utilities, furnishings, laundry, cleaning and more…

As you can see, there’s already huge list of items to take care of before you can even call the place you found home.

What does that look like?

To simplify things, here’s a full break down of what you’ll need to pay:

*Prices are for a standard studio apartment 130sqft and 12 months rental

(Prices listed as HKD)

Weave Living

Normal Rental

Rent

$11,875*

$10,000

Security Deposit
(refundable)

$11,875

$20,000

Utilities

Included

$1020

Wi-Fi

Included

$130

Cleaning
(once a week)

Included

$640

Laundry Machines

Included

$280

Furniture

Included

$9,000

Events/Things to do

Included

Not included

Broker/Agent Fee

None

$5,000

Min. Lease Term

1 month

1 year (lock in) +
1 year (flexible)

Total Cost:

$23,750

$46,070

The savings and extra gains

Essentially by living with us at Weave, you’ll be able to halve your new move in investment and save on utilities! With everything included into the price and more than just 130sqft of living space, forget about that standard apartment…

  • We have extensive sun-soaked shared spaces with huge windows allowing for plenty of natural light and room to breathe
  • Living rooms equipped with all your TV and entertainment needs whether that’s a Nintendo Switch or a selection of board games
  • Kitchens with ovens! Fridges! And everything in between that you’ll need to chef it up
  • A fully-equipped gym, yoga studio and/or spin studio on site so don’t worry about paying for monthly membership
  • An outdoor terrace or rooftop to rise above the concrete jungle for a moment
  • Security on site 24/7 so you can sleep easy
  • Weekly cleaning,  that you can book at the touch of a button via our Weave App
  • A rolling calendar of events and workshops often at little to no cost with a friendly group of neighbours if you’re feeling social
  • A range of discounts and resident perks our great range of brand partners have shared with us on the Weave App

So what are you waiting for?

Move in today by filling out our contact form or emailing us at live@weave-living.com now!

Anna Zhou, Content & Partnerships Associate

Anna Zhou, Content & Partnerships Associate

A multi-lingual global professional with more than 6 years experience working from Hong Kong, Melbourne to Johannesburg and Shanghai. Anna is well-travelled and adept at navigating cultural nuances in diverse industries using a multi-disciplinary lens to connect people together.