Originally Posted by Magenta Line

I had heard we were going to get a 5 yr exemption from the French guv'ment on the tax issue -- actually read it on a post here earlier so who knows....

Originally Posted by HerkyBird

OK, everybody ... here it is, from the horse's mouth ... http://www.iht.com/articles/2007/05/...ness/expat.php

This is an article from the Int'l. Herald Tribune titled "Hong Kong Apartments Most Expensive To Rent", 5/23/07. That means most expensive in the world. It will cost you a MINIMUM of US $5,000 to rent a modest apartment of 1,000 sq. ft. Please keep in mind, also, that what is called a "luxury apartment" in HKG means luxury by their standard - not by ours. We're not talking granite kitchens with a Sub-Zero fridge, folks. The So. China Morning Post has a similar article (no link; article below). Pass the word - DON'T BID HKG.
*****
"Expat Budgets Falling Behing Luxury Price Rise"
by Sandy Li
May 30, 2007 (South China Morning Post)

Expatriates with a monthly accomodation budget of HK$70,000 to HK$100,000 [US$8,975 to $12,820] - a common package for senior executives - would have less choice in their favorite area in Island South as luxury residential rents continue to rise.

Landscope Surveyors managing director Koh Keng-shing said most flats of more than 3,000 square feet in Island South would be charging more thatn HK$100,000 a month now. "This group of executives will have to lower their expectations by looking for flats in West and East Mid-Levels," he said.

Landscope's website lists a 3,330 square foot unit in Tregunter Towers at Mid-Levels offering to lease at HK$100,000. Owing to limited supply of luxury residential units, Mr. Koh expects rents to increase more that 20 percent this year. He said the period from May to July was the traditional high season for leasing, thus this would push up rents further.

An international survey last week ranked Hong Kong as having the world's highest rents for expatriates, with an average cost of US$8,592 a month to rent an unfurnished three-bedroom flat in areas such as Repulse Bay, the Peak, and Mid-Levels. Mr Koh said accommodations and staff cost only accounted for a tiny portion of a multinational corporation's operating cost.

"With a growing number of international corporations setting up offices in Hong Kong and the tight supply in the top-end residential sector, rents will continue to move up. We have seen one apartment attracting two to three bidders," he said. Mavis Kang, general manager of Signature Homes, the luxury residential leasing arm of Sun Hung Kai Properties, said rents for its luxury residential portfolio rose 5 to 8 percent in the first quarter of the year, compared with the previous quarter.

Signature Homes provides more than 600 homes in 14 prestigious locations in Hong Kong. These include Dynasty Court in Mid-Levels, 127 Repulse Bay Road, and Le Palais in Island South. "Occupancy rates at our portfolio reached 97 percent, reflecting strong demand for luxury residential homes," Ms. Kand said.

Lily Choi, senior marketing manager at Kerry Real Estate Agency, said most of their tenants were expatriates who worked in the financial sector. "Our tenants come from the United States and Europe," she said. Its super-deluxe portfolio includes Aigburth, Brandsome Crest, Tavistock and Branksome Grande. She said rents ranged from HK$40 [US$5.13] to almost HK$60 [US$7.69] per square foot, while units of 6,000 square feet exceed HK$60 per square foot [US$46,154 PER MONTH].
*****

Originally Posted by MadDog11F

Originally Posted by Busboy

World's most expensive cities 2007

1. Moscow
2. London
3. Seoul
4. Tokyo
5. Hong Kong
6. Copenhagen
7. Geneva
8. Osaka
9. Zurich
10. Oslo
11. Milan
12. St. Petersburg
13. Paris
14. Singapore
15. New York City
16. Dublin
17. Tel Aviv
18. Rome
19. Vienna
20. Beijing


Source:Mercer

http://money.cnn.com/2007/06/15/pf/m...ex.htm?cnn=yes

Originally Posted by crazyman347

Living in Hong Kong for 2 years, and going back again in July for another 2-3 year stay I am sorry to tell you FEDEX is going to have to pay you much more than $4,000 COLA, or you are getting screwed. To live how you pilots are living, or somewhat similar minimum of $9,500 USD a month!

Now lets talk about schooling, my two kids go to a British School ( better than the American schools) and expect about $45,000 a year, yes i didn't misspeak, but if you want kids to get a decent education, that is what you are going to have to pay.

Reading it here that they do not have to do this makes me sad, and hope they don't take advantage of you. Somehow you need to fight for yourselves and get a typical expat US worker package. To be honest I am not bragging but to give you an idea what other workers at US based companies get to live in Hong Kong I will give you some details of my package:

$13,000 Housing Allowance a Month
$100,000 Schooling Allowance a year for kids, supplies ect.
$25,000 transportation Allowance, though don't use it because public transportation is so advanced and nice in Hong Kong.
$30,000 a year for people to help with the kids, called ayis, however you spell it but they come in clean you apartment babysit the kids ect.
Obviously a pay increase
2 trips all inclusive trips home a year, though with your airline privileges might be different, however you view it.

Please stand up for yourselves and hopefully FEDEX realizes that they are going to broke someone forcing them to go there. I think it makes since MAYBE to someone who is single who could live on the economy much cheaper and not actually around Hong Kong but other places. For a family noway would I put my family through those conditions of living there not to mention the stress on the wife, kids, and you!

There is not a chance FEDEX will give those perks to you, so all I can say is try your best to fight it as much as possible, or if you are forced into it I would say look at Cathway, they seem to have better perks for people in Hong Kong.

Just my $.02 but thought it could help you realize what it will cost to live there. If you want to know anything ask.

Originally Posted by crazyman347

Just my $.02 but thought it could help you realize what it will cost to live there. If you want to know anything ask.

Originally Posted by machz990

Thanks for your input and perspective. We will have to wait and see what the company offers. If it's the rumored $2700 per month than anybody with half a functioning brain cell will hopefully be intelligent enough not to bid it.