Most people in Hong Kong spend decades trying to pay off a mortgage with their hard-earned money. So where do the biggest earners live?
Using data collected by the Census and Statistics Department in 2016, Commentator Leung Kai Chi shared on his Facebook page a ranking on where the top earners of Hong Kong live and their average income.
Before looking at the rankings, it is worth noting it only covers housing estates with at least 1000 units, as a result, luxury residence in districts like the Mid-levels and Repulse Bay are not on the list.
The top of the class
Residents at Baguio Villa and Residence Bel-air, both luxury housing estates in the southern district, top the city in earnings with a median income of $70,000 per month.
Following closely are families with a median income of $50,000 a month. Interestingly, residents at this income level are spread all over Hong Kong and include Braemar Hill Mansions on Hong Kong Island, The Sorrento at the West Kowloon waterfront and Royal Ascot, Hong Kong at Fo Tan in the New Territories.
Middle of the pack
Coming in at number nine is Lion Rise in Wong Tai Sin a popular housing estate for middle-class families. The residents here have a median income of $47,000. This is somewhat a surprise for a middle class housing estate to be ranked so high.
Another popular housing estate for the middle class- TaiKoo Shing located on Hong Kong Island is way behind at number 32, with resident’s median income at $34,000.
Leung explained the residents of Lion Rise may be older people who had bought flats earlier at a much lower price. They may not be earning lots of money from their careers and maybe heading towards retirement, but they are owners of multiple apartments getting handsome rewards from rent.
At the bottom
With little surprise, public housing estates are at the bottom of the ranking- Cheung Lung Wai Estate at Sheung Shui and Cheung Sha Wan Estate. Residents of these housing estates have a median income of $10,000. Leung said most of the residents in these housing estates are young families, one of the parents has to stay at home to take care of the children so they have the lowest income.
If you want to find out whether your income justifies where you live please check it out here.
Talent Experience Forum - a new one-day conference discussing candidate and employee experience, happening in Kuala Lumpur on 23 October