This article takes a look at the 5 most affordable places to retire in the world. If you wish to check out our detailed analysis on saving billions for retirees, you may go to the 25 Most Affordable Places to Retire in the World.
5. Yogyakarta, Indonesia
Insider Monkey Score: 40
Average Monthly Rent: $205
Average Monthly Living Expenses: $537
Retirement Visa: Indonesia Retirement Visa (KITAS)
Yogyakarta is an affordable destination to retire to, offering a harmonious blend of culture and affordability. Some of the most significant historical sites can be found here, such as UNESCO-listed Borobudur and Prambanan temples. The residents are very friendly, and it’s quite easy to integrate into the community. There are several educational institutions as well, allowing retirees to engage in lifelong learning. The city also offers adequate healthcare facilities, an important prerequisite to consider for retirees.
4. Kumasi, Ghana
Insider Monkey Score: 42
Average Monthly Rent: $266
Average Monthly Living Expenses: $994
Retirement Visa: None, Apply for a Dependent Residence Permit
Kumasi, known as the cultural capital of Ghana, is another one of the most affordable places to retire in the world. Retirees get to experience a vibrant and culturally immersive experience here, enjoying the city’s affordability and community atmosphere. Kumasi also has adequate health facilities to offer retirees.
3. Aguascalientes, Mexico
Insider Monkey Score: 42
Average Monthly Rent: $245
Average Monthly Living Expenses: $1,063
Retirement Visa: Mexico Retirement Visa
Aguascalientes, Mexico, is one of the most affordable places to retire in the country. The city is home to a thriving arts scene, offers affordable and accessible healthcare, and boasts a mild climate. The colonial architecture is well-preserved here which adds to the appeal of the region. Lively festivals, such as the San Marcos Fair, are hosted here as well. Over 1,500 events take place at this fair, and many of them are free to attend. Aguascalientes is also known for its warm and welcoming community.
2. Prekmurje, Slovenia
Insider Monkey Score: 43
Average Monthly Rent: $300
Average Monthly Living Expenses: $850
Retirement Visa: None, Apply for a Temporary Residence Permit
Offering a unique blend of serenity, culture, and beauty, Prekmurje in Slovenia is another affordable retirement destination. Rolling hills, vineyards, and the serene Mura River are present in the region, offering a picturesque backdrop to call home. There are several thermal springs and spas as well, and retirees love to indulge in them as part of relaxation and wellness. The region is home to a diverse culinary scene and the locals are friendly too.
1. Alor Setar, Malaysia
Insider Monkey Score: 50
Average Monthly Rent: $85
Average Monthly Living Expenses: $433
Retirement Visa: Malaysia My Second Home (MM2H)
Alor Setar tops our list of most affordable retirement destinations due to its incredibly low costs of living. The city is home to some of the most iconic historical landmarks, such as the Alor Setar Tower, the Zahir Mosque, and the Al-Bukhary Mosque. Picturesque landscapes embrace the city, allowing retirees to explore nature reserves, indulge in outdoor activities, and even relish the serene countryside. Alor Setar is also known for its friendly community. There are plenty of private and public hospitals in the area.
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