When deciding between an apartment in Hong Kong Island or the New Territories, there tends to be mixed opinions on the subject. Some people may prefer size over convenience, while others prefer peace and quiet over cheap transport costs. Whether you are looking to rent or buy an apartment in Hong Kong, here are some factors to consider when evaluating the two districts:
Although there is an increasing number of new luxury developments in the New Territories (such as the Woodsville, Park Signature and Residence 88), cheaper rent and more generous spaces in the New Territories remain to be the general phenomenon for the moment. While Hong Kong Island tenants pay more money for convenience, the New Territories tenants sacrifice the value of time for larger spaces and more comfort.
Cost of living
Another factor to consider between the two districts is the cost of living. Food, groceries and amenities may seem like small numbers from the beginning, but once these living costs start to add up, you’ll notice a significant difference in price between the two districts. As the New Territories tends to have a higher number of local restaurants, the high level of competition results in lower prices compared to Hong Kong Island.
The issue of transport really depends on your workplace – if you work on Hong Kong Island, you may spend at least an hour a day travelling between Hong Kong Island and the New Territories. After all, time is money – if the value of time and convenience are top priorities for you, an apartment on Hong Kong Island may better suit your life philosophy. On the other hand, if your job description includes travelling to China frequently, the New Territories may be a more ideal option for you.
Some people may prefer living among the hustle and bustle of the city, while others require peace and quiet in their living space to unwind and relax after a long day’s work. As the two districts offer completely different characteristics, your lifestyle choice may directly influence your final decision. If you are planning to have children in the near future, it is important to note that most of the elite local schools are situated on Hong Kong Island.