Cost of Living and Finance

The average cost of living in Hong Kong (excluding tuition and accommodation fees) is estimated to be around HK$36,000 per student for 9 months (2 semesters) of study to pay for meals, transport, education expenses such as books and stationery, laundry and other personal items, etc. This amount will vary depending on lifestyle choices.


Estimated Cost of Living (2019-20)

General Monthly Expeneses

ExpenditureMonthly cost (HK$)
Food3,000
Local Transportation 200
Personal Expenditure (e.g. medical expenses,
telephone bills and laundry)
500
Academic Expenses (e.g. books and supplies) 300
Total (excluding tuition and accommodation fees) 4,000

Note: The above estimate is for reference only. The actual cost may vary from person to person.

Student Residence Fees

Undergraduates:

  • Double Room: HK$7,700 per semester, per person
  • Single Room: HK$15,400 per semester, per person
  • 3-person Apartment: HK$10,300 per semester, per person

  • Exchange Students (Undergraduate Level):
  • Double Room: HK$9,250 per semester, per person
  • Single Room: HK$18,500 per semester, per person
  • 3-person Apartment: HK$12,350 per semester, per person

    Postgraduates:
  • Fee varies from HK$2,200 to HK$4,150 per month per person

  • For details, please refer to https://www.cityu.edu.hk/sro/htm/e_apply3_fee_pg.htm

    Rental for Off-campus Accommodations

    The rental for off-campus accommodations could vary depending on the size, location, age of the building, etc. The rental for shared private flat/serviced apartment in a hotel may cost HK$5,000 to HK$6,200 a month. It normally does not cover utility and internet charges.

    Please contact the Student Residence Office for assistance in locating information on off-campus accommodation or see "Off-campus Accommodation".


    Money Matters

    Bringing Money to Hong Kong

    It is unnecessary to carry a large amount of cash with you when you travel to Hong Kong. There is no immediate or large payment due on arrival, so an amount of around HK$10,000 in cash to support general living for the first two months should suffice.

    Each student will receive an all-in-one payment notice during the first month after enrolment covering tuition, student residence fees and insurance premiums, etc. Payment can be settled by various means. Please visit website of the Finance Office for details.

    Banking Services

    Most of the banks in Hong Kong are open from 9:00 am to 4:30 pm Monday to Friday, and from 9:00 am to 12:30 pm on Saturdays, except for public holidays. Some banks and branches have slightly longer hours and some banking services are not available an hour before closing.

    Automated teller machines (ATMs) can be found almost everywhere in Hong Kong, providing 24-hour cash withdrawal (HK$) for Visa and MasterCard holders. Some ATMs also provide cash in Renminbi, but few support withdrawals of other currencies.

    A campus branch of the Hang Seng Bank is located on the 3rd floor of Yeung Kin Man Academic Building. For more information about the bank’s services, please call (852) 2198 0445 or visit www.hangseng.com.

    Branches of other banks such as Citibank, HSBC, DBS and the Bank of China, can be found in the nearby Festival Walk shopping mall.

    Credit Cards

    Visa, MasterCard, American Express and most of the international credit cards can be used for cash withdrawal and other financial transactions at ATMs in Hong Kong. However, please note that some local shops do not accept credit cards.

    Other than the traditional payment methods, electronic payment such as Apple Pay, Google Pay, WeChat Pay and Alipay are also widely accepted in shops and restaurants.

    Currency Exchange

    The legal tender in Hong Kong is the Hong Kong dollar (HK$), which is linked to the US dollar at a rate of about HK$7.8 to US$1, although sometimes the exchange rate may fluctuate slightly.

    Entrance Scholarship

    If you are awarded an entrance scholarship, the grant will be allocated to you in two instalments for every eligible year. The scholarship will be deposited to your student account before the payment due dates for university fees and charges to offset outstanding fee amounts. The remaining balance of the scholarship grant, if available, will be transferred to your bank account or by cash cheque (on request).