Funky monk
the actual rental numbers are in 404's post above...but just to keep it simple I am going to ignore the first 2 years of SO where you get half the RFZ(rent free zone)
Whilst you are an expat in HKG you have 3 levels. Basic, RFZ and Level 1(i think it is still called that?)
Basic is $24K a month and that is what you would get if you don't provide CX with a lease or mortgage(ie if you are buying). So guys sharing a house with other people cause they commute to oz/us/uk etc would only get $24K
RFZ- at the moment i think 404 said it is about $48K/month - so you can rent any place for up to $48K and CX will pay the entire amount - or you can buy a place and CX will pay the mortgage up to $48K. So what FG was saying is that if you bought a cheap 2-3million place, you make the term of the loan so short that your monthly payments are $48K.
Level 1 - 2 parts to this....to keep it simple, once you are a CN you can go to level 1 - it was about $73K/month a couple of months ago. So you can rent a place for up to $73K BUT you contribute 8% of the cost - so you pay about $6K/month out of our salary and CX pays the other $67K odd. The 2nd part is that after you have been in CX 8 years, and NOT a CN, you can rent for a figure halfway between RFZ and level 1 - so $60.5K(halfway between 73-48) and you contribute 8% of that rent.
So if you stayed in HKG until you were a CN your housing payments, based on current figures would be..
SO year 1 and 2 RFZ/2 - $24K
SO year 3+4? +Fo1-4 RFZ $48K to rent or buy
SFO1 RFZ or (RFZ+level1)/2 or $60.5 - you pay 8%
CN Level 1 $73K you pay 8%
Most commuters buy a place as since they are hardly ever in HKG it makes sense to take advantage of getting $48K to pay off a flat
hopefully a little clearer...I think I am confused now
