Asian cities continue to dominate the list of the most expensive locations for expats.
Mercer's annual Cost of Living survey for 2019 saw Hong Kong take the crown as the world's priciest destination for living and working abroad for the second year in a row. Tokyo came in second, followed by Singapore and Seoul. The only non-Asian city to make the top five was Zurich, Switzerland's largest city.
The ranking is based on a "basket" of goods and services such as rent, petrol, clothing, movie tickets and coffee. Mercer said Asian cities featured prominently due to high costs for consumer goods and a dynamic housing market.
But how does life in the world's most costly spots compare to New Zealand? The Asia Media Centre spoke to Kiwi expats based in Hong Kong, Tokyo, Singapore and Seoul.
HONG KONG
Francine Chen, 29, Production Editor
How long have you lived in Hong Kong?
Six months.
What is your accommodation like?
I share a 700sqft apartment with a flatmate about 15 minutes from the CBD.
What percentage of your income do you spend on rent?
Almost one-third of my income goes to rent. Apartments in land-starved Hong Kong are tiny and painfully expensive. An average 200sqft studio apartment in the downtown areas can easily set you back upwards of HK$17,000 (NZ$3300) per month.
How do you get around? How much does transport cost?
The public transport system in Hong Kong is among the world's best, and there are several options. The tram (nicknamed the "Ding Ding"), is one of Hong Kong's oldest modes of transport and also one of the cheapest, costing a flat fare of HK$2.60 for adults. The MTR rail system is very efficient, with trains arriving every couple of minutes during peak hours. Depending on the journey, fares can range from HK$5 to HK$50.
Do you tend to cook at home or eat out for meals?
I tend to eat out. There's an extensive range of excellent fare to enjoy around Hong Kong. And while the city is home to more than 50 establishments listed on the Michelin Guide, there are also plenty of hole-in-the-wall local haunts which Hong Kongers will only be too thrilled to share with you if you ask. This is a city of proud foodies.
Where would you go/what would you do in Hong Kong if you were on a budget?
Sightseeing is free, and there's never really a dull moment, with museums, temples, gigs, cultural and art events to check out any time of the week.
While Hong Kong is known as a bustling city that never sleeps, the bright lights of the city aren't very far away from the tranquil sounds of nature. There are beautiful beaches and serene forests in Hong Kong you can access affordably via public transport, and mountain hikes of varying difficulties to suit families or those who are more adventurous.
Where do you think most of your money goes living in Hong Kong?
Rent, food and travel.
Have you been able to save much while living there? Overall, how expensive do you find it compared to New Zealand?
Hong Kong lives up to its reputation as one of the world's costliest cities. But for me, thanks to a lucky combination of low income taxes, great medical and dental benefits, cheaper transport, and higher wages as compared to New Zealand, I have been able to save a bit more living in Hong Kong than in Auckland.
TOKYO
Tim Lambourne, 30, Videographer and DJ
How long have you lived in Tokyo?
Three years total across two stints.
What is your accommodation like?
I live in an apartment with my girlfriend. It's relatively spacious by Tokyo standards, tiny by New Zealand standards.
What percentage of your income do you spend on rent?
That's hard as I am a freelancer so my income changes. But at a guess, 15 per cent. This would be 30 per cent if I wasn't living and sharing rent with my girlfriend.
How do you get around? How much does transport cost?
Train. My daily commute costs 320 yen (NZ$4.40) per day.
Do you tend to cook at home or eat out for meals? What are supermarket prices like?
We cook and eat at home a lot. Supermarkets are more expensive than eating out.
How much do you pay for a cup of coffee?
Too much. 400-500 yen.
Where would you go/what would you do in Tokyo if you were on a budget?
Lunch prices are cheaper than dinner, almost by government mandate, so eating well at lunch and being more tactical at dinner is a good option.
Where do you think most of your money goes living in Tokyo?
Food and alcohol.
Have you been able to save much while living there? Overall, how expensive do you find it compared to New Zealand?
No, but that's because I'm freelance so I never know when my next paycheque is coming. At my level of income and consumerism, Tokyo is cheaper than Auckland.
SINGAPORE
Darren Burrows, 27, Building Services Engineer
How long have you lived in Singapore?
Just over two years, since April 2017.
What is your accommodation like?
Currently I'm renting a master room in a condo with two other flatmates. The condo has facilities like a swimming pool, tennis courts, squash courts, BBQ, and a small gym.
What percentage of your income do you spend on rent?
Approximately 20 per cent.
How do you get around? How much does transport cost?
Mainly by MRT for daily commute, otherwise Grab or taxi if it's a late night. I spend around SG$120/month on transport (NZ$132). My daily commute costs SG$1.47 each way.
Do you tend to cook at home or eat out for meals?
I eat out nearly all the time — I've cooked about three times since arriving. Meals can be super cheap if you want — my lunch costs SG$3.50 for 2 meat + 2 vege and rice.
How much do you pay for a cup of coffee?
I'm not a coffee drinker! But the local 'kopi' or 'teh' is only SG$1.20. If you want a flat white or Starbucks it would be SG$5-6 for a regular size.
Where would you go/what would you do in Singapore if you were on a budget?
Play beach volleyball at Tanjong Beach, cycling at East Coast Park, day trip to Pulau Ubin and eat out at the hawker centres.
Where do you think most of your money goes living in Singapore?
Other than rent, it's food, travel and entertainment.
Have you been able to save much while living there? Overall, how expensive do you find it compared to New Zealand?
Yes, around 50 per cent of my salary. Overall, if you are disciplined, I think you can save more in Singapore. Even though rent may be more expensive, the remainder of living costs are similar — if not cheaper — and income tax is very low. Unless you are going out every weekend and spending a lot of money on alcohol, fine dining, and travelling to luxurious locations, then you can save more.
SEOUL
Gerard Patena, 40, Stay-at-home Dad
How long have you lived in Seoul?
17 years.
What is your accommodation like?
My wife and I live in an apartment with our two children.
What percentage of your income do you spend on rent?
My wife and I own our apartment.
How do you get around? How much does transport cost?
We have our own car which we use a lot, as we have children. Gas prices are similar to New Zealand. But public transport is cheap and efficient. A subway or bus ride to anywhere in the city will set you back around NZ$3 one way.
Do you tend to cook at home or eat out for meals? What are supermarket prices like?
In my house, we eat at home during weekdays and eat out on weekends. Some foods like beef and fruit and vege, can be very expensive. Milk is about the same price as back home, and bread as well.
How much do you pay for a cup of coffee?
I don't drink coffee! But you can get NZ$1 cups of coffee at any of the major coffee chains in the city. And flat whites are everywhere, usually priced at NZ$5.50.
Where would you go/what would you do in Seoul if you were on a budget?
Seoul is lucky in that it has some beautiful mountain parks to explore. All easy to get to by subway or bus, and they give you a beautiful view over the city. Also most of the museums in Seoul are free. My favorite museums are the National Museum and the Korean War memorial museum. The many traditional markets dotted around the city are also well worth a look.
Where do you think most of your money goes living in Seoul?
For my family, most of our expenses are spent on food and bills.
Have you been able to save much while living there? Overall, how expensive do you find it compared to New Zealand?
Yes, Korea is the perfect place to save. Koreans are well known for their ability to work hard and save. Eating out in the city is cheap, and having a decent life here won't break the bank. Korea can be expensive like back home, especially if you want to own a home in Seoul. But in general for everyday life it's cheaper than home. Here you can actually go out to a restaurant, have a few drinks and still go home with cash in your pocket.
- Asia Media Centre
