Hong Kong has a reputation for being the suit capital in Asia – suits cost between US$ 150 to 500 (according to the textile quality, tailor and your ability to Haggle).
Although some tailors offer to complete suits in a day, we would recommend you to try it on at least twice to make sure it fits well. Leave about a week to play safe – 50% deposit usually required.
Like any purchase we would recommend not to rush into the purchase. Choose your tailor carefully and do not buy from the first one who approaches you as you stroll down the streets of Kowloon (which happens approx every minute on S. part of Nathan Road).
Visit several shops and ask to see different types of fabric and samples and discuss the schedule (including when you will try the suit) and price. Also,you should better ask to see a finished garment first so that you could check the quality of suit (including the stitching, lining, buttons set, etc.)
For most tailors you should be able to easily haggle the price and get a free shirt and tie. If you have spare time, want to buy in bulk, or are on a tight budget you can consider a trip to Shenzhen where tailor-made clothing are even cheaper.