If you are planning to retire abroad, then this idea may hold many pitfalls for you – you should not choose a destination on the basis of a dream rather than on sound planning. So just as you plan your retirement carefully, you need to plan a lot for the place you want to move after you retire.
One place you may want to visit is Hong Kong. It may just be the top place for you to retire overseas. Many consider it as one of the best places to retire in Asia.
You may have several reasons for wanting to move to a new country. Many people may want a change since they have worked in one place for a long time.
Some want a change because they want adventure and the experience of a completely different yet suitable lifestyle and culture.
So you may have your own reasons for choosing to retire abroad, but ultimately sound planning is must. Let us take a quick look at living and possibly retiring to Hong Kong.
To start living in a new place is not an easy decision to make, as there are various destinations you can choose from. But if you are looking out for a place where you can get a beautiful and rich blend of culture, heritage and lifestyle, then Hong Kong is a wonderful option as there is just something that sets Hong Kong apart from the rest of world. It is a place where the old meets the new. You will never feel out of place as you get to experience a fusion of eastern as well as western cultures in Hong Kong.
Geography
The island of Hong Kong is situated just south of the Tropic of Cancer. It shares the same latitudes as Calcutta, Havana and Hawaii and the same longitude as Wuhan in central China, Bali and Perth. The country’s southern coast is surrounded by the South China Sea. The country consists of a peninsula and hundreds of islands that are scattered off the coast. The peninsula is made up of Kowloon and the New Territories, while South off the mainland lies Hong Kong Island and a few other remote islands. Geographically, Hong Kong is situated between the Taiwan Straits, the South China Sea and the Pacific Ocean, making it a tactical route for sea traffic to Asia and the world.
Hong Kong has a subtropical climate due to the wide temperature range and cool (not freezing) winters. Even though Hong Kong’s latitude lies within the tropics, its seasonal changes are greater as compared to most other places at similar latitudes. Monsoons dominate the climatic system of the country. Therefore, raingear is necessary during the monsoon season. Spring starts in the month of March and extends until mid-May. Summer takes over from June to mid- September. During the summer, temperatures become hot and humid. It is advisable to carry an umbrella or to wear a hat to shield yourself against the intense heat. Mid-September to February is the best part of the year with cool, dry weather.
Cost of living in Hong Kong
Hong Kong is considered to be one of the most expensive cities in the world to live in. High priced vehicles and consumer products play an important role in contributing to the high standard of living. Healthcare is extremely costly and entertainment and nights out can be expensive as well.
The shortage of land and the prices paid by people for owning and renting property is what makes Hong Kong one of the most expensive cities in the world. However, not everything is expensive in this wonderful city. Aside from being clean and safe, public transport is a real bargain, compared to prices in the United States. Taxis are reasonably priced. The people of Hong Kong love to bargain, so never forget this rule when dealing with landlords and independent business owners. Nearly everything can be haggled over. Bargains and discount stores are found all over the city and can help you save a lot of money.
Affordable housing
Hong Kong has established itself as the main commercial center in Greater China as well as rest of Asia, mainly due to its well-developed infrastructure, highly skilled workforce, and an efficient and friendly government. The housing market in Hong Kong is subject to the highs and lows of the local economy, which is sensitive to the economies of China in general and neighboring countries.
This volatility in the Hong Kong housing market makes it very difficult to predict where the property prices are heading in any particular year. Retirees who are looking for affordable housing need to check out apartment listings provided by real estate brokers.
Transportation:
Trams: Tram service is available only in the northern parts of Hong Kong. It is a leisurely and affordable way of commuting. The fare is 25 cents U.S. for adults and half of that for children.
Subway: The subway system is probably the most convenient means of transportation available in Hong Kong. More than a million people use the subways daily, making it one of the safest and most affordable means of commuting on the island. Subway stations are strategically located near interstate bus depots and other railroad stations, providing hassle free connectivity to most parts of Hong Kong as well as other neighboring areas.
Bus: Hong Kong has double-decker buses that provide connectivity to most parts of Hong Kong. Most of them are air-conditioned and usually do not have heaters. These buses have three digit numbers that identify the route taken by the bus.
Ferry: Ferries are mainly used for crossing the harbor. There are also some ferries that provide connectivity between Hong Kong Island/Kowloon to the “outlying islands” such as Lantau Island, Cheung Chau, Peng Chau, and Lamma Island.
Aside from these, other common modes of transportation available in Hong Kong include taxis, minibuses (Maxi-cabs), rickshaws, and rental cars.
Food – Eating – Dining on Hong Kong Cuisine
Various forms of Chinese culinary cuisine have evolved through the Hong Kong people’s great passion for eating. These cuisines date back centuries. Steaming, roasting, smoking and fermentation processes are the basic methods of cooking. The kitchens of Hong Kong offer a large variety of regional cuisine. Each cuisine has its own distinctive taste because of the use of assorted ingredients and methods of preparation. The Chinese consider food to be a form of art and will always remain enthusiastic in their passion for food. To them, eating is not just a necessity to stay alive, but also an enjoyable experience.
When ordering a Chinese meal, both taste and texture are graciously considered. The taste buds are titillated with a fusion of sweet-sour, sharp-bland, hot-cool and crunchy-smooth delicacies. The Chinese do not encourage the habit of wasting food, so order only what you can eat.
Medical Facilities
Medical facilities in Hong Kong are well developed and are comparable to the most modern medical facilities available in big hospitals in the United States. A number of famous hospitals in Hong Kong have permanent international medical staff. Most of these hospitals feature the most advanced medical technology and have physicians who are both knowledgeable and skilled. Some hospitals even have special VIP wards for people of foreign origin. These hospitals offer advanced medical services to non-native citizens and have plenty doctors and nurses who are fluent in English.
Hong Kong was originally founded by the British for promoting business and trade in the region. Since then, the city has progressed rapidly and has now transformed itself into a vibrant Chinese city without sacrificing the comforts available in any United States metropolitan city. The city is home to giant skyscrapers and world’s largest shopping malls as well as street-side food stalls and lively street markets, making it one of the best places to retire in Asia.
Hong Kong Currency Exchange Rate (August 2012)
$1.00 US Dollar = 7.75470 Hong Kong Dollar
1.00 USD = 7.75470 HKD
Learn more about traveling, living and possibly retiring in Hong Kong:
http://wikitravel.org/en/Hong_Kong
http://www.discoverhongkong.com/
https://www.cia.gov/library/publications/the-world-factbook/geos/hk.html