Hong Kong millionaires look to GBA living as retirement planning gaps emerge

Hong Kong millionaires are increasingly looking to the Greater Bay Area (GBA) as part of their retirement planning, driven by factors including healthcare access, cost of living, and lifestyle preferences. A recent survey conducted by OCBC Hong Kong reveals that nearly 30% of its millionaire respondents, those with at least HK$1 million in liquid assets, are either relocating to GBA cities or living across Hong Kong and the mainland region. Despite this trend, many remain uncertain about the financial implications of maintaining a dual-living arrangement. The survey, carried out in April 2026, interviewed 1,375 Hong Kong residents aged 35 to 65. It highlighted that the GBA is becoming a central consideration in retirement planning, with housing, medical care, and wealth preservation emerging as key concerns. Respondents estimated they would require over HK$10 million in liquid assets for retirement, with those not yet retired and living across multiple locations expecting even higher requirements, up to HK$11.2 million. Monthly expenditures were projected to reach approximately HK$48,700. Regular travel to the GBA has become a common feature for many of these individuals. According to the survey, 54% visited GBA cities at least once a month, while 37% made trips two or more times. This frequent movement underscores the growing integration of the GBA into daily routines and long-term strategies. Some respondents are actively contemplating relocation, while others already live across both Hong Kong and the mainland. Among those considering relocation, Shenzhen emerged as the top choice, selected by 32% of respondents. Zhongshan came second at 23%, followed by Guangzhou and Zhuhai, each with 19%. These destinations were favored for their proximity to Hong Kong, well-established transportation networks, and developed living conditions. The preference for nearby cities reflects a desire for convenience and familiarity while accessing better amenities and lower living costs. Healthcare played a crucial role in influencing relocation decisions. Nearly half of the respondents who were open to moving or already lived across two locations cited high-quality medical care and wellness facilities as a primary factor. Lower living costs were also a major draw, with 47% of respondents highlighting this benefit. Spacious housing and retirement security were additional considerations, mentioned by 33% and 31% respectively. Medical care is also being viewed as a critical component of financial planning. Over 74% of those living across two locations or considering relocation expressed interest in utilizing advanced diagnostic and screening services in the GBA. Similarly, 68% were willing to use routine and preventive care, and 67% considered long-term or complex treatments. These figures indicate that healthcare is not just a personal concern but also a financial one, with respondents weighing the cost-effectiveness and reliability of GBA medical services against alternatives. Despite the popularity of dual-living arrangements, there appears to be a disconnect between current satisfaction and confidence in the sustainability of such setups. Among those already living across Hong Kong and the GBA, 86% reported satisfaction with their current lifestyle, yet only 22% felt very confident about the long-term viability of their arrangements. This discrepancy highlights the challenges associated with managing finances, logistics, and support systems across borders. As the trend of dual-living continues to grow, experts suggest that more comprehensive planning will be necessary to address the complexities of cross-border living. With increasing numbers of Hong Kong millionaires turning to the GBA for retirement, the demand for integrated financial and logistical solutions is likely to rise.