If you are searching for the most affordable countries to live and retire in the world, this is the right article for you. All the countries outlined below can help you enjoy a better life and a prosperous retirement. You will be able to eat better, hire help for things you do not want to do, have a better home and ultimately spend considerably less every month on your regular bills.
When determining which the cheapest countries to live in the world are you must consider several factors, key among them being real estate. This means researching the average prices per for each square foot or renting cost. However, cost is not the only factor, as you should ensure that you are getting high quality real estate for the money you are spending.
The benefit of living in affordable countries is that the cost of rent, food, transportation and various other essential items are available at reasonable prices. In addition, most of these countries are very attractive holiday destinations, which have sandy beaches, an abundance of nature and a flourishing nightlife. Hence, they are very desirable places for people who want to feel as if they are going for a permanent holiday.
Galyna Andrushko/Shutterstock.com
Since the following countries are very affordable, getting luxury items is much easier as they are accessible at cheaper prices. This is particularly more visible in countries where the foreign exchange rates work in your favor. Thus, people seeking a safe place that they can live or retire and still have lots of savings are likely going to enjoy a rich life with lots of prosperity and abundance in these nations.
Climate is also an important consideration when deciding to move to a different country. A good climate works great wonders for both your complexion and health. However, different people have different tastes in what they consider as the most optimal climate. So, ensure that you are comfortable with the climate of your preferred destination as you read through this list of the most affordable countries to live and retire in the world.
7. Argentina
Besides great bargains on good food, rent and nice wine, Argentina is a very simple place that you can quickly set up and start living. It is also possible to get legalized residence if you are patient with all the bureaucracy that it will take to make that happen. The neighboring countries of Uruguay and Chile offer great vacation options if you feel you want a change of scenery occasionally.
6. Mexico
Mexico also makes it into this list of the most affordable countries to live and retire in the world. The major reason that this country is also quite cheap to live in is due to three things, namely low rents, low labor costs and low food prices. These three things are expected to remain unchanged for a long time. The great weather in the country means you do not even need to pay for air conditioning or heat. You can bring down your costs further by learning Spanish and eating or shopping where the local people do.
5. Nicaragua
Among the poorest countries in Central America, Nicaragua is an excellent destination for people in search of an affordable location. If you are a Canadian or American and you want a place where you can live in or retire with a few grand in your account, then this is the right destination. With an average salary being about $600, even if you are relying on your social security check, you will still be able to live very well off.
4. Cambodia
Cambodia is the most affordable and easiest country to attain residency in Asia. While foreigners cannot own land, there are many ways you can overcome that particular limitation through creating a corporation. Renting or buying a condo is more hassle free. Nevertheless, expect to see rents lower than $500 for a nice comfortable home. You will also find some cheap beach living accommodations in this destination.
3. Vietnam
This a simple place to live and start a business, as there is an adequate supply of skilled locals who also speak English. You can move there today and have your own fully furnished rental apartment for under $600, complete with fast internet and house cleaning services. In the smaller towns, you can easily find huge family-sized homes for the same amount of money.
2. Malaysia
This is a much simpler place to attain residency for a longer term compared to Indonesia or Thailand. Thus, you can easily relocate to Malaysia and start living a very cheap and comfortable life. The infrastructure is great and the countryside is quite peaceful. You will also get access to a huge English speaking working community.
1. Portugal
Portugal is not only a cheap travel destination, but it is a much better place that you can live in or retire. Foreigners can purchase any kind of property and since the country is still healing from a financial crisis, it is easy to find many good deals around. You can drink fine wine, eat well and live in a comfortable and cheap accommodation.
This has been a compilation of the most affordable countries to live and retire in the world.
