On the home front – the rules of renting around the world

Moving to a new county for work can be a little daunting, and finding a place to live can be one of the biggest challenges. To help you out, bux has taken a look at three of the more popular destinations for migrant works – Hong Kong, Australia and the UK. Each comes with its own renting quirks, rules and regulations, not to mention significantly different costs. So, let’s hop on a virtual plane and have a look.

 

First stop, Hong Kong

Aside from having one of the most spectacular skylines in the world, Hong Kong also boasts sky-high rents. In fact, it’s consistently ranked as one of the most expensive places to rent property in the world.

So, what can you expect to pay in monthly rent? Well, the bare minimum for a very basic studio or single room is HK$5,000 per month. For something a little less basic, you’re looking at a minimum of $HK10,000 per month. Or for a grand studio, you’ll pay the even grander sum of HK$60,000 per month. Most landlords will ask for one month’s rent in advance plus a two-month security deposit.

Avoid brokers; they can demand a month’s rent in commission. Try to work with real estate agents instead, or through your employer. Leases are generally on the long side – two years – which can be a stumbling block if your contract is short term. However, most tenancy agreements have a break clause after one year.

There are plenty of good sites to search for Hong Kong rentals. AsiaXPat and GeoExpat are aimed at migrants and are a great place to start.

 

Next stop, Australia

If a little sunshine and downunder charm appeals, then Australia makes for a friendly overseas working experience. Aussies are generally helpful and welcoming and the lifestyle is relaxed - the emphasis is on outdoor living and the quintessential Australian BBQ.

Australian cities offer migrant workers a varied range of accommodation options, from studio apartments in city high rises to furnished three-bedroom houses in surrounding suburbs with your own yard and, sometimes, a swimming pool. And do consider the suburbs even if you’ll be working in the city centre as public transport – trains and buses – are frequent and reliable.

So, what are the rents? A basic city studio will be anything from A$1,000 to $1,500 per month, one-bedroom apartments $1,500 to $2,000 per month, while a two-bedroom house will be anything from $2,000 to $3,500 per month.

Lease periods tend to be more flexible with six-month and one-year agreements quite common. You can expect to pay one month in advance, plus at least another month as a security bond in case of damages.

rent.com.au, realestate.com.au and domain.com.au have vast arrays of Australian rental properties and are well worth a look.

 

Last stop, the UK

History, culture and beautiful countryside. The UK is an experience like no other. Here you’ll find a wide variety of rental options, from studio apartments in the heart of London to terrace houses and cottages.

No surprises, average apartment rentals in central London are royally high – over £2,000 per month in posh areas for 85sqm, about half that in your more everyday London suburb. Overall, the average rent across the UK is about £1,500 pounds.

Lease lengths tend to be flexible, more than in Australia than Hong Kong, with two to three months’ rent as an advance and bond.

Primelocation.com and home.co.uk are both great places to start your virtual search for a UK rental.

 

Once you’re settled into your new home, bux can help you out with safe and secure money transfers, with competitive FX rates and the cheapest international money trans fees in the market, which will make sending money home easy. Plus, bux has cheap international calls to keep in touch with family friends, and even mobile top up.

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