In this article, we will explore the 12 best places to retire in Chile. If you wish to skip our detailed analysis on retirement in Chile, go to the 5 Best Places to Retire in Chile.
Retirement in Chile
Nearing retirement with zero savings? You’re not alone! According to the US Census Bureau, almost 47% of men and 50% of women in the US have no retirement savings at all. Those who do, have been reported to be taking hardship withdrawals from their savings anyway. Inflation has been taking a turn for the worse in the economy due to a tight labor market, soaring demand, and a constrained supply. 2022 saw it hit a 40-year high, with consumer spending and purchasing power taking a dip consequently.
Moreover, since the average social security check is only $1,701, comfortable retirement in the USA seems like a far-fetched dream. $1 million is no longer enough to retire with a comfortable lifestyle, and more and more potential retirees are exploring their options outside of the USA. One such country on the radar is Chile. Chile is one of South America’s safest and most economically stable countries. The country has been experiencing accelerative aging in recent years, with 12.2% of the population being 65 or older. This number is expected to double in the next 25 years, implying that retirement communities in Chile and other age-specific facilities and services are going to be in prospects soon, a plus for foreign retirees looking to retire here.
Other than that, there are many pros and cons of retiring to Chile. The country boasts a strong economy, low levels of corruption, and a high standard of living. Chile is also home to majestic mountain peaks, sparkling rivers, and abundant wildlife. The roads are well-maintained, and the infrastructure is also first-class. Retirees from Europe and the USA especially consider this country, partly because of its honest culture and partly because it gives them a break from the climate of the Northern Hemisphere.
The cost of living is also affordable as compared to other Western nations. When renting, a single retiree can expect to live comfortably in Chile for $1,808, while a couple can do well for $2,746. Moreover, to further drive down rent costs, many expats also go for cheap shared-housing options. However, one disadvantage of living in Chile as an expat retiree is that groceries and eating out are expensive when compared to other South American countries. Regardless, many cheaper cities and towns have a reasonably affordable cost of living for retirees.
As such, some of the cheapest places to live in Chile include Valdivia, Chillán, and Concepción. It is reported that the northern part of Chile is comparatively expensive compared to its southern counterpart, since mining companies and workers live there. While many retirees consider affordability as the main factor when relocating, yet many other expat retirees consider safety as important as affordability. For this reason, they choose safe destinations instead of focusing on affordability alone. Some of Chile’s safest places to live include Santiago, La Serena, and Santa Cruz.
However, what is the best option when it comes to safety, affordability, and amenities for an expat retiree? To help you make the right decision, we have rounded up a list of the best places to retire in Chile.
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Methodology
To compile the list of best places to retire in Chile, we have used 8 (1,2,3,4,5,6,7,8) sources. Places were ranked using a consensus approach, each receiving a single point whenever a source recommended it.
For tie-breaking, places with a lower cost of living have been placed higher on our list. Places are ranked in ascending order from the lowest to the highest scores. Single-person cost of living per month and monthly rent for a one-bedroom apartment is sourced from Nomad List, Cost of Live, and LivingCost.org, amongst others.
It must be noted here that most cities on our list have a multicultural atmosphere, and retirees unfamiliar with Spanish may have difficulty adjusting. If you want to check out other English-speaking countries to retire to, you can check out our list here.
12. Antofagasta
Insider Monkey Score: 2
Antofagasta, the port city of Northern Chile, is one of the best places to retire in the country. Nestled amidst the Pacific Ocean’s azure waters and the Atacama’s desert landscape, Antofagasta offers a uniquely enchanting combination of the two. Retirees can enjoy its coastal location on one end while witnessing the skyscrapers of the bustling city on the other. Many water-based activities, a thriving cultural scene, and an inclusive retirement community make Antofagasta a popular choice for retirees. A well-developed healthcare system is in place, with many modern medical facilities and clinics available. The desert climate, with extremely low precipitation levels, isn’t unpleasant at all either. A single expat retiree can expect to live here for an average of $1,060 per month, with rents for one-bedroom apartments costing $500-$700 per month.
11. Valdivia
Insider Monkey Score: 2
Valdivia, a city and commune situated in the Valdivian rainforest in Southern Chile, is a friendly location for retirees to call home. Nestled along the banks of the Calle-Calle, Valdivia, and Cruces rivers, the city is a beautiful embodiment of bridges and waterways. Lush forests and rolling hills further embrace the city, offering retirees the perfect backdrop to call home. A day in Valdivia is often spent kayaking or paddle boarding in the river, visiting restaurants on Isla Teja, relaxing on Neibla’s beaches, or hiking at Oncol Park. Beer fans must visit Kunstmann Brewery, a brewery featuring German-inspired dishes. The cost of living in the city is around $936, and one-bedroom apartments cost around $583 per month.
10. San Pedro de Atacama
Insider Monkey Score: 2
San Pedro de Atacama has landed on our list of best places to retire in Chile for several reasons. For starters, the oasis retreat is stunningly beautiful, surrounded by landscapes such as the salt flats of the Salar de Atacama, the Valle de la Luna (Valley of the Moon), and the Atacama Desert. Activities like stargazing and hiking are ideal for those looking to make this town their home. Moreover, this place also has a certain laid-back, relaxed lifestyle appeal to it. Hot springs and wellness centers are the perfect way to relax and rejuvenate. Active retirees will have a wonderful time here, engaging in experiences such as mountain biking, sandboarding, and trekking. An individual can expect to live on $882 monthly, spending around $448 monthly on rent for a one-room apartment.
9. Concepción
Insider Monkey Score: 3
Concepción is a modern city located in Southern Chile. Its location on the Pacific coast grants it a quite mild climate: not very cold in winters, as well as warm in summers, with temperatures rarely exceeding 77 °F. Retirees enjoy a laid-back, peaceful lifestyle in the city, with beaches, parks, and forests to enjoy. The healthcare system is also quite well-established, an important consideration for retirees. The culinary scene is diverse in this city as well. Concepción is home to one of the best universities in Chile, which is why the cultural scene also thrives in the city. The average cost of living is $884, with Barrio Universitario or Callao being the more affordable suburbs to consider.
8. Iquique
Insider Monkey Score: 4
Iquique can be considered one of the best places to retire in Chile for its mild climate, coastal lifestyle, and affordability. The city boasts a tax-free port area, a seafront casino, and Pacific beaches. The oceanfront atmosphere attracts many retirees to this place. A single retiree can expect to live on $998 monthly, spending $629 on a one-bedroom apartment in the city center. There are many outdoor activities to indulge in, such as fishing, surfing, and kayaking. Shopping centers, restaurants, and casinos add to the overall retirement experience. The mild desert climate is also a plus, though retirees with health conditions or allergies must check whether the climate suits them.
7. Puerto Varas
Insider Monkey Score: 5
Sitting on the banks of the sprawling Lake Llanquihue, Puerto Varas offers impressive views of the snow-capped Osorno Volcano and Calbuco Volcano. The “City of roses” has a walkable town center, stunning landscapes, and reasonable healthcare facilities. The pace of life in the city is slow, and the cost of living is quite affordable. A single person can expect to live on $1,155 monthly, with rents and utilities amounting to an average of $516. There are various cultural and recreational events happening throughout the year as well. Moreover, the small city boasts plentiful amenities such as cafes, shops, restaurants, and markets, making it one of Chile’s best places to retire.
6. Punta Arenas
Insider Monkey Score: 5
For retirees who love chilly weather, Punta Arenas is the place to be. Stunning landscapes such as the Strait of Magellan, the Southern Patagonian Ice Field, and nearby islands embrace the city, offering it a picturesque backdrop to boast. The unique cultural heritage attracts retirees just as much, such as museums, architecture, and other historic sites. Healthcare facilities are also reasonable. An individual can retire at $960 monthly, with rent and utilities costing $478. The retiree community is growing in the area, making it an ideal retirement destination.
Click to continue reading and see the 5 Best Places to Retire in Chile.
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Disclosure: none. 12 Best Places to Retire in Chile is originally published on Insider Monkey.