2024 Renting in HK Guide for Students and IANG Graduates

In recent years, fewer Chinese students are studying abroad, with more opting for Hong Kong. The city’s universities are gaining popularity among both mainland and international students. This trend is reflected in the increasing number of IANG visa applications.

Following the Hong Kong government's launch of the "Vocational Professionals Admission Scheme (VPAS)” and the mainland student expansion plan in October last year, student visas surged by 32.6%, reaching 62,000 by the end of 2023. This number is expected to hit 80,000 this year, with over 30,000 staying via the IANG scheme.

Both new international students and IANG graduates face challenges in finding housing. Key questions include the best time to rent, channels to use, budget considerations, and essential rental tips. This guide covers these aspects.

Best Rental Timing for International Students

The peak rental season is from May to August, offering more options but also higher competition due to graduates moving out and new students arriving.

Due to high rental demand, especially for students, it’s recommended to start searching 2-3 months before the semester begins.

Student Rental Timeline

• 6 Months Before Semester: After receiving an offer, research Hong Kong's living conditions and rental market, and set a budget. Use online platforms, forums, and social media for advice.
• 4 Months Before Semester: Begin online property searches, contact real estate agents, and schedule virtual viewings. Compare rent prices and understand the pros and cons of different areas.
• 2-3 Months Before Semester: Conduct in-person viewings, finalize properties, and sign leases. Personal inspections ensure the property meets your needs.
• 1 Month Before Semester: Handle move-in procedures, confirm utilities, and prepare for a smooth transition.

Rental Costs in Hong Kong

Budgeting is crucial when renting in Hong Kong. Consider rent, deposits, commission, and daily expenses. Estimated costs for different rental types:

• Luxury: HKD 15,000/month, including facilities like private pools and gyms.
• Affordable: HKD 7,000/month, near schools and metro, with basic furnishings.
• Economical: HKD 3,500/month, shared apartments with classmates.
• Basic: HKD 1,500/month, remote village houses (not recommended).

How to Find Accommodation

Rental Agents and Platforms

• Rental Agencies: Midland Realty, Centaline Property, Ricacorp, Hong Kong Property Services (Commission applies).
• Rental Platforms: 28Hse, House730, LetsGetHome, Spacious (Rich in listings).
• Student Platforms: Uhomes, Student.com, iRent (Convenient but expensive).
• Serviced Apartments: Owl Square Co-living, Dash Living (Convenient but expensive).
• Social Media: Facebook, Carousell (unregulated and caution for scams).

Types of Rentals

• Old Buildings: Low rent, larger area, older facilities.
• Village Houses: Large space, cheaper, less accessible.
• Modern Apartments: Equipped with elevators, better security, higher rent.
• Estates: Larger units, clubhouses, 24-hour security, expensive near universities.
• Student Apartments: Well-equipped but pricey.
• Monthly Rental Hotels: Fully serviced, ideal for short stays, expensive.

University-Specific Rental Guides

1. University of Hong Kong (HKU): Two entrances, check location of classes for optimal rental choice.

• MTR: HKU Station
• Recommended: Sai Wan, Sai Ying Pun, Wan Chai, Kennedy Town, Tai Kok Tsui, Olympic, Sheung Wan

2. Hong Kong University of Science and Technology (HKUST): Seaside, fewer rental options, mainly village houses.

• MTR: Hang Hau, Tseung Kwan O, Po Lam
• Recommended: Tai Po Tsai, Hang Hau, Diamond Hill, Choi Hung, Tseung Kwan O, Po Lam

3. Hong Kong Polytechnic University (PolyU): Close to Hung Hom station, old city with many rental options.

• MTR: Hung Hom Station
• Recommended: Whampoa, Hung Hom, East Mong Kok, Prince Edward, West Mong Kok, Tai Kok Tsui, Olympic

4. Chinese University of Hong Kong (CUHK): Convenient location with multiple rental areas along the East Rail Line.

• MTR: University Station
• Recommended: Fanling, Sha Tin, Tai Wo, Tai Wai, Kowloon Tong, Mong Kok, Hung Hom, Prince Edward

5&6. City University (CityU) & Baptist University (BU) : Close to Kowloon Tong, limited student-friendly rentals, opt for Kowloon City or South Mountain Village for affordable options.

• MTR: Kowloon Tong Station
• Recommended: Kowloon Tong, Kowloon City, Prince Edward, Hung Hom, Whampoa

7. Lingnan University (LingU): Located in Tuen Mun, rentals along the MTR line are advisable.

• MTR: Siu Hong Station
• Recommended: Tuen Mun, Tin Shui Wai, Siu Hong, Yuen Long

8. Open University of Hong Kong (OUHK): Students typically rent in Hung Hom, Whampoa, or Yau Ma Tei, starting at HKD 4,800, minimum three-month leases.

• MTR: Ho Man Tin Station
• Recommended: Hung Hom, Whampoa, Yau Ma Tei

Key Rental Considerations in Hong Kong

• Illegal Subletting: Avoid public housing (HOS/PRH).
• Humidity: Ensure good ventilation to avoid mold.
• Haunted Properties: Check listings for unusually low rent.
• Furnished or Unfurnished: Verify furniture and appliances.
• Subletting Risks: Verify property ownership through agents.
• Lease Duration: Typically one-year leases, with flexibility after 11 months.
• Payment Terms: Monthly payments are standard, negotiate with landlords if necessary.

Additional Costs Beyond Rent

• Deposit: Usually two months' rent.
• Commission: Typically one month's rent, shared between landlord and tenant.
• Stamp Duty: 0.25% of total rent for leases under one year.
• Utilities: Water, electricity, gas, and internet vary by provider and usage.

Required Documents for Renting

• ID or Passport: Proof of identity.
• Student ID or Offer Letter: Proof of student status.
• Bank Account Proof: For rent and deposit payments.
• Work Proof (if applicable): Proof of stable income.

Should You Pay Annual Rent Upfront?

Some landlords require upfront annual payments, posing a risk if they abscond. Verify property ownership and use reliable agents to mitigate risks. Negotiate monthly payments by showing proof of funds.

Common Rental Terms in Hong Kong

• Square Foot: 1 square meter ≈ 10.764 square feet.
• Saleable Area vs Gross Area: Net includes walls, balcony, etc. Gross includes public spaces.
• Representation Paper: Document listing property details and viewing history.
• Commission-Free Listings: Verify ownership to avoid scams.
• Deposit Terms: Usually two months' rent, refundable if no damage.
• Fixed-Term Lease: Typically one-year leases, with flexibility after 11 months.
• Stamp Duty: 0.25% of total rent for leases under one year.
• Rent-Free Period: 3-14 days for move-in preparations.

Cost of Living in Hong Kong for Students

Monthly expenses range from HKD 15,000 to 25,000 depending on lifestyle. Key expenses include:

1. Accommodation: from HKD 6,000 to 15,000. Depending on what types of accommodations.
2. Food: Eating out around HKD 40-80/meal, a month for HKD 4,000-6,000. Cooking at home is around HKD 2,000-4,000/month.
3. Transport: Octopus Card: Electronic payment for transport. Monthly Pass: HKD 500-800. Single Rides: HKD 5-20 (MTR), HKD 4-15 (bus)
4. Communication: Mobile: HKD 100-300/month. Internet: HKD 200-400/month
5. Study Materials: Books: HKD 2,000-3,000/semester. Supplies: HKD 500-1,000/semester
6. Miscellaneous: Entertainment: HKD 500-1,500/month. Personal Care: HKD 200-500/month
7. Insurance: Basic coverage from universities, private insurance recommended, around HKD 2,000-4,000/year.

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