Hong Kong millionaires who intend to move to mainland cities within the Greater Bay Area or currently live across the border estimate they need retirement liquidity of about HK$11.2 million on average, with about 30 percent recognizing a financial shortfall, according to OCBC Hong Kong's latest survey.
The survey investigated 1,375 Hong Kong residents aged between 35 and 65 who have assets of HK$1 million or more, of whom 500 intend to move to the GBA or are already engaged in dual living, with an average age of 46 and average liquid assets of HK$5.3 million.
One in three respondents expressed an intention to move to the GBA in the future, while one in five is already residing on both sides, according to the survey.
The investigation also showed that 54 percent of them travel to the GBA at least once a month, while 37 percent have twice or more a month.
Besides, their preferred mainland city in the GBA for retirement is Shenzhen, accounting for 32 percent, followed by Zhongshan (23 percent), Guangzhou (19 percent), and Zhuhai (19 percent).
As for the main reasons for moving, healthcare, cost of living, and related facilities are important considerations.
