| Category | Cost |
|---|---|
| Apartment Rentals | Rental prices in Sheung Wan can vary greatly depending on the size and location of the apartment. On average, a one-bedroom apartment in the city center can cost around HKD 20,000 to 30,000 per month, while a three-bedroom apartment can range from HKD 40,000 to 60,000 per month. |
| Apartment Purchases | Buying an apartment in Sheung Wan is a significant investment. The price per square foot can range from HKD 15,000 to 20,000. Therefore, a 600 square foot apartment can cost anywhere from HKD 9 million to 12 million. |
| Transportation | Public transportation in Sheung Wan is relatively affordable. A monthly pass for the MTR (subway) costs around HKD 500. Taxis start at HKD 24 for the first 1.6 kilometers and HKD 8.5 for each additional kilometer. If you prefer to drive, keep in mind that parking can be expensive, with monthly parking rates averaging around HKD 3,000. |
| Groceries | The cost of groceries in Sheung Wan can vary depending on where you shop. On average, you can expect to spend around HKD 2,000 to 3,000 per month for a single person. This includes items like fresh fruits and vegetables, meat, dairy, and other staples. |
| Restaurants | Sheung Wan has a wide range of dining options, from affordable local eateries to high-end restaurants. A meal at an inexpensive restaurant can cost around HKD 50, while a three-course meal for two at a mid-range restaurant can cost around HKD 400. A meal at a high-end restaurant can easily cost over HKD 1,000. |
| Utilities | Monthly utilities for an 85m2 apartment, including electricity, heating, cooling, water, and garbage, can cost around HKD 1,000 to 1,500. Internet can cost around HKD 200 per month. |
| Private School Tuition | Private school tuition in Sheung Wan can be quite expensive. For preschool, you can expect to pay around HKD 70,000 to 100,000 per year. Elementary school tuition can range from HKD 100,000 to 150,000 per year. Middle school and high school tuition can cost anywhere from HKD 150,000 to 200,000 per year. |
Monthly Budget for Retirees in Sheung Wan
“The cost of living in Sheung Wan is considered high compared to many other places in the world. Rent for a one-bedroom apartment in the city center can be quite expensive. The cost of utilities such as electricity, heating, cooling, and water are also relatively high. Groceries in Sheung Wan can be pricey, especially for imported goods. Eating out at restaurants varies, with both affordable local eateries and high-end dining options available. Public transportation in Sheung Wan is efficient and relatively affordable, but owning a car can be costly due to high fuel prices and parking fees.Healthcare in Hong Kong is excellent but can be expensive, especially for private healthcare services. Fitness and leisure activities, such as gym memberships and cinema tickets, are also priced on the higher end. Overall, while salaries in Sheung Wan can be high, the cost of living is also significant, particularly when it comes to housing and personal care,” said one expat living in Sheung Wan.
Can I live in Sheung Wan on $1,500 a month?
“I’ve been living in Hong Kong for a few years now and I can tell you that living on $1,500 a month in Sheung Wan is going to be a bit of a stretch. The cost of living in Hong Kong is quite high, especially when it comes to housing. Sheung Wan is a trendy, central neighborhood with a lot of expats, so rents are particularly high there. You might be able to find a small studio or a room in a shared apartment for around $1,000 a month, but that doesn’t leave much for other expenses. You’ll need to budget for utilities, food, transportation, and any other personal expenses. Eating out in Hong Kong can be quite expensive, especially in areas like Sheung Wan, Central, and Wan Chai. However, you can save money by cooking at home and shopping at local markets. Public transportation is relatively affordable, but if you’re used to having your own car, that’s another expense you’ll have to cut. If you’re looking for more affordable neighborhoods, you might want to consider areas like Sham Shui Po, Mong Kok, or Kowloon City. These areas are a bit further out from the city center, but they’re still well-connected by public transportation. The rents are significantly cheaper, and you’ll find more affordable options for groceries and dining as well. On the other hand, if you’re used to a certain standard of living, you might find these areas a bit lacking in terms of modern amenities and lifestyle options. You might also have to compromise on the size and quality of your living space. In terms of other sacrifices, you might have to cut back on entertainment and leisure activities. Going out for drinks, attending concerts or events, and even gym memberships can be quite expensive in Hong Kong. Overall, it’s not impossible to live on $1,500 a month in Hong Kong, but it will require careful budgeting and some sacrifices. You’ll need to prioritize your expenses and decide what you’re willing to compromise on,” commented an expat living in Sheung Wan.
Can I live in Sheung Wan on $3,500 a month?
“I’ve been living in Sheung Wan for a few years now and I can tell you that living on $3,000 a month is possible, but it will require some sacrifices and smart budgeting. The biggest expense you’ll have to consider is rent. Sheung Wan is a popular area and the rent can be quite high. For a small, one-bedroom apartment, you’re looking at around $2,000 a month. If you’re willing to live in a studio or share an apartment, you can cut that cost down significantly. Next, you’ll have to consider utilities and internet which can run you about $100 a month. Food can be quite expensive in Hong Kong, especially if you’re eating out all the time. However, if you cook at home and shop at local markets, you can keep your food budget to around $300 a month. Public transportation is quite affordable and efficient in Hong Kong, so you won’t need a car. A monthly transportation pass is around $60. So, if you add all that up, you’re looking at around $2,460 a month, leaving you with a little over $500 for entertainment, personal care, and any unexpected expenses. It’s definitely doable, but you’ll have to be careful with your spending. If you’re looking for more affordable neighborhoods, you might want to consider areas like Mong Kok or Sham Shui Po. They’re a bit further out, but the cost of living is significantly lower. On the other hand, areas like Central or Admiralty are quite expensive and might be out of your budget. Remember, Hong Kong is a vibrant city with a lot to offer. Even on a tight budget, you can still enjoy the city’s culture, food, and nightlife. It just requires a bit of planning and smart spending,” said one expat living in Sheung Wan.
Can I live in Sheung Wan on $5,000 a month?
“I’ve been living in Sheung Wan for a few years now and I can tell you that living on $5,000 a month is definitely possible, but it does require some careful budgeting and lifestyle adjustments. The biggest expense is definitely housing. Rent in Sheung Wan can be quite high, especially for modern, well-equipped apartments. You might be looking at around $2,000 to $3,000 a month for a decent one-bedroom apartment. If you want to save on rent, you might consider looking at older buildings or even moving a bit further out to areas like Sai Ying Pun or Kennedy Town. These neighborhoods are still very convenient but rents can be a bit cheaper. Food can also be quite expensive in Hong Kong, especially if you’re used to eating out a lot. A meal at a mid-range restaurant can easily cost $20 to $30. But if you’re willing to eat at local eateries or cook at home, you can save a lot. Groceries can be quite affordable, especially if you shop at local markets instead of the big supermarkets. Transportation is relatively cheap in Hong Kong. The MTR, buses, and trams are all very affordable. Taxis can be a bit more expensive, but they’re still quite reasonable compared to other major cities. As for other expenses, things like utilities, internet, and mobile plans are quite reasonable. You might have to cut back on things like gym memberships, nights out, or other entertainment if you’re trying to stick to a $5,000 budget. In terms of neighborhoods to avoid if you’re trying to save money, Central, Mid-Levels, and the Peak are all very expensive. These are some of the most desirable areas in Hong Kong, so rents are very high. Overall, living on $5,000 a month in Sheung Wan is definitely doable, but it does require some sacrifices. You’ll need to be mindful of your spending and be willing to live a bit more modestly. But in return, you get to live in one of the most vibrant and exciting cities in the world,” commented an expat living in Sheung Wan.
