Your Relatively Well-Off Customer Profile
Zeppelin Real Estate Analysis Limited
Your humble author has
recently been flipping the pages of the latest published 2001 Census
statistics and tables for some research data and has accidentally observed
the following, i.e. a brief profile of the (relatively) well-off strata.
While professing this not being something of pinpoint accuracy, it may be
handy for marketing people, real estate agents included:
The more educated the customer the higher the chance of his / her earning
being higher = despite all the stories
we have heard about people who rise from rags to riches and without much of
an education, well, they are not the norm. Of the 210,000 people who earn
HK$40K or more per month (this being the highest category used), around 66%
of them have university degrees, i.e. 140,000 of them who in turn
constitutes around 25% of the population with university degrees.
Percentages earning HK$40K or more for the other education attained
categories are as follows: tertiary education (but not university degrees)
13%, matriculated (Form 7 graduated) 6%, secondary (Form 5 graduated) 2%+,
and the rest (primary, kindergarten, and no schooling) less than 1%.
Between 30 and 50 years old
= Of the
210,000 people earning HK$40K or more per month, around 80% or 168,000 of
them are middle-aged, and of these 168,000, 110,000 or so of them have
university degrees. A detail look reveals those 40 years old or more number
more than those below 40 years old.
Live on Hong Kong Island
= Of the
2,000,000+ households in Hong Kong, around 1M reside in the New Territories,
some 600,000 plus live in Kowloon, and the rest of around 400,000 families
live on Hong Kong Island. Using the highest household income category of
HK$60K or more per month, 7% of New Territories¡¦ families have achieved
that, 6% of Kowloon¡¦s families, and 18% of Hong Kong Island¡¦s families.
Look for households with 2, 4 or 5 family members = Of the 180,000 or so households earning HK$60K or more per month (being
the highest category), and using the number of household members category
which ranges from 1 to 6 or more, households with 2, 4 or 5 people
constitute the bulk, collectively at 66%, of these 180,000 or so most
well-off (in earning terms) households.
Look for families with 2 to 3 members working
= it relates only to so-called nuclei / nuclear families. Of the 1,400,000
such families, around 130,000 of them have a household income of HK$60K or
more per month, and of these, 70% of them have 2 to 3 members working.
Do not neglect some of the families living in public rental or assisted sale
housing = The average household
income per month in Hong Kong is around HK$18K, and there are some 160,000
public rental housing families earning HK$20K or more per month, and of
these, some 20,000+ families earn HK$40K or more per month. They could have
substantial purchasing power. Also, 40,000 or so families living in public
assisted sale housing also earn HK$40K or more per month.
By and large, the above may
be good for forming a brief overall view and please bear in mind the
statistics were based in 2001 when we had the last full census done. For
definitions on some of the terms, please refer to the published census
The article and/or content contained herein are for general reference only
and are not meant to substitute for proper professional advice and/or due
diligence. The author(s) and Zeppelin, including its staff, associates,
consultants, executives and the like do not accept any responsibility or
liability for losses, damages, claims and the like arising out of the use or
reference to the content contained herein.
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