Hong Kong Millionaires Face Financial Planning Gaps for Dual Living in Greater Bay Area

For a growing number of Hong Kong millionaire respondents, the mainland Greater Bay Area (GBA) cities becoming part of later-life planning, from healthcare access and living space to retirement lifestyle. Yet many have not fully worked out the financial demands of maintaining a life across Hong Kong and mainland GBA cities, according to a new OCBC Hong Kong survey.

According to the bank’s “OCBC Premier Banking – Hong Kong Millionaires Dual Living and Wealth Management Study 2026”, about 30 per cent of respondents considering relocation to mainland GBA cities or already living across Hong Kong and Mainland GBA cities, and not yet retired, still faced gaps in planning for dual-living and retirement.

Conducted in April 2026, the survey covered 1,375 Hong Kong residents aged 35 to 65, each with at least HK$1mn in liquid assets. Its findings suggest the mainland GBA cities are being factored into the plans of middle-aged and pre-retirement millionaire respondents, with housing, medical care, retirement security and wealth preservation all being weighed up.

From regular travel to retirement planning

According to OCBC, respondents estimated they would need more than HK$10mn in liquid assets for retirement on average, with the expected requirement rising to about HK$11.2mn among those not yet retired and either living across two locations or considering relocation. Expected monthly expenditure was around HK$48,700.

The study found that 54 per cent of respondents travelled to the GBA at least once a month, while 37 per cent did so two or more times. For many, such travel has become part of their regular routine.

One in three respondents said they were considering moving to a Mainland GBA city, while one in five already lived across Hong Kong and the GBA. Among those aged 45 to 54, 43 per cent indicated plans to relocate within five years.

Preferences were concentrated in neighbouring cities with proximity to Hong Kong, established transport links and relatively mature living facilities. Among those not yet retired and either living across two locations or considering relocation, Shenzhen was the most favoured destination among respondents considering relocation, chosen by 32 per cent, followed by Zhongshan at 23 per cent, Guangzhou at 19 per cent and Zhuhai at 19 per cent.

Healthcare enters the planning equation

Healthcare appeared as the strongest relocation driver, with 50 per cent of respondents who were open to relocation or already living across two locations citing healthcare quality and wellness facilities as a key reason for considering a move to the GBA.

Lower living costs were cited by 47 per cent, more spacious housing by 33 per cent, and retirement planning and protection by 31 per cent.

Medical care is also being treated as a financial planning issue. Among respondents already living across two locations or considering relocation, 74 per cent said they would consider using advanced diagnostics and screening services in the GBA, while 68 per cent would consider routine and preventive care and 67 per cent complex or long-term treatment.

The main reasons cited were cost-effectiveness, improved healthcare infrastructure and confidence in medical professionals.

For respondents considering such arrangements, dual living affects more than the choice of home city. Regular medical appointments, cross-border transport, living expenses, family visits, insurance coverage and retirement lifestyle expectations all need to be worked through, raising the question of whether households have mapped out the cash flow and support needed to make the arrangement sustainable.

Confidence gap

The survey also found a gap between satisfaction with current arrangements and confidence about the future. Among respondents already living across Hong Kong and the mainland GBA cities, 86 per cent were satisfied with their current lifestyle, but only 22 per cent felt very confident about their future outlook.

Dual living may be attractive when judged by space, cost and convenience, but it becomes more complex when households need to plan for healthcare access, transport, family duties, insurance coverage, tax exposure, asset allocation and retirement income across more than one jurisdiction.

Among those already living across two locations, 48 per cent cited increased cost pressure from maintaining two locations, 45 per cent pointed to transport and co-ordination burdens, and 34 per cent reported difficulties managing responsibilities across two locations.

Some respondents may therefore be taking on two sets of expenses without a fully integrated financial plan. Housing, travel, insurance, medical treatment and family support can become spread out, reducing visibility over future obligations and making retirement planning harder.

Wealth preservation comes first

Retirement expectations further expose the gap between ambition and preparation. Among respondents who were considering relocation to mainland GBA cities or already living across two locations, and who had not yet retired, 32 per cent expressed concern about insufficient retirement savings, while about 40 per cent expected a retirement lifestyle better than their current standard of living.

The study also found a defensive set of wealth priorities. Among respondents who were open to relocation or already living across two locations, 51 per cent named wealth preservation as a top priority, ahead of retirement planning at 45 per cent and investment growth at 42 per cent.

The ranking suggests many Hong Kong millionaire respondents are looking first to growing wealth steadily, preparing for retirement planning.

For wealth advisers, the trend is raising demand for integrated solutions spanning investment portfolios, insurance, medical cover, cash flow, estate planning and everyday banking access. Josephine Lee, head of consumer financial services at OCBC Hong Kong, said the bank would draw on the group’s regional network, capabilities and wealth management services to help customers pursue “Preserve, Plan, Prosper” goals across wealth preservation, retirement planning and investment growth, while mapping out the dual-living plans they envisage.

She added that certain retirement-focused insurance solutions could help clients prepare financially while providing access to retirement community networks and healthcare support services in mainland GBA cities.