What's the cost of living in Hong Kong?

I have just moved here so my information is incomplete but I hope that it is helpful to you. My personal experience is that cost of living varies on your personal habits and tastes as well as location. For example, I take a minibus to work each day and live near the Kowloon City district in a private apartment complex. The roundtrip costs 14.2HKD and is much cheaper than taking a taxi (at least 70-100HKD roundtrip). I pay almost 17,000HKD for a 2 bedroom apartment but I saw older (albeit smaller) apartments in the same area for 12,000HKD. Likewise, food can be very pricy if you shop at supermarkets like CitySuper or Jason's, moderately pricy if you go to Wellcome and Park N Shop, and much cheaper if you use the local wet market. Some people claim that it is even cheaper to simply eat out at local neighborhood restaurants (about 10-25HKD per person) but the cost of a meal can easily get very expensive. It also depends on where you are moving from. I relocated from one of the most expensive cities in the USA, so it doesn't feel that bad. If I had come from a smaller city, then I think Hong Kong would feel more expensive. In general, including rent, I think that 20,000HKD is a safe amount for bare expenses like accommodation, food, and utilities (but would not cover a domestic helper). If you have any children though, you should anticipate school fees too.

Rents is the biggest expense in Hong Kong. It depends on your lifestyle just like what mojester mentioned above. For suggestion of cheaper goods, you might check out local forums, or go and talk a walk in wet markets. You might also check out openrice for ideas of how restaurants in Hong Kong looks like & how much they cost. If you are looking for serviced apartments in Hong Kong, you might check out Dash Suites, they offer reasonably priced serviced apartments in Causeway Bay & Tsim Sha Tsui with flexible lease terms. Hope the info helps & All the best!