Recently, a friend told me that he was moving abroad. When I asked him why, he told me that Saudi Arabia was one of the cheapest countries to live in. This got me thinking- which are the cheapest?
These are countries that you can both live in today, or retire in, whenever that may be. In no particular order, these are the cheapest countries to live in!
15. The Philippines
The Philippines is an archipelago of islands in Southeast Asia. During the summer, The Philippines is 32 degrees Celsius (90 degrees Fahrenheit) in the summer, but 22 degrees Celsius (72 degrees Fahrenheit).
Rent is significantly cheaper in The Philippines with a two bedroom apartment costing $100 per month, or $200 on a mortgage. Many financially savvy people in The Philippines often house hack too.
Food is also extremely cheap in The Philippines too. Food can quite easily be under 10,000p ($200) for a couple assuming that you know where to eat or cook most of it yourself.
Other expenses can be almost anything, however, most estimates are roughly 5,000p ($100). However, this is assuming that you are living a fairly modest lifestyle, if you live a more luxury lifestyle, it could be a lot more.
14. Macedonia
Macedonia is currently facing a crisis similar to that of its neighbor and rival- Greece. Similar to Greece, Macedonia stays warm throughout most of the year as well!
In Macedonia, rent is fairly cheap. A fairly big three bedroom apartment can cost 19000 ден ($350). A fairly big three bedroom apartment in the city center can set you back roughly 2,725,750 ден ($50,000).
Food is also extremely cheap in Macedonia too. The average monthly food bill comes to 5450 ден ($100) assuming that you eat in. However, if you eat out, it will only be marginally more.
Your other expenses in Macedonia are also going to set you back a similarly small amount- roughly 8200 ден ($150) assuming that you live a fairly modest lifestyle anyway.
13. Croatia
Croatia is one of the cheapest countries in Europe to live in. During the summer, Croatia is 28 degrees Celsius (82 degrees Fahrenheit) and 5 degrees Celsius (41 Fahrenheit) during the winter.
Renting isn’t an option in Croatia- absolutely no one rents fro cultural reasons. House prices in Croatia are actually fairly expensive- reminiscent of house prices in more developed European countries like France or Spain.
Croatia is notorious for its food, with a lot of their culture being dedicated towards food. If you’re exclusively eating in, you could expect to pay 1500 kn ($225) but if you’re eating out, you can expect to pay 2600 kn ($395).
Other living expenses in Croatia will set you back roughly 10,000 kn ($1,500) assuming you’re living as a couple, and living a fairly modest lifestyle whilst your there. Recent years have seen many digital nomads move to Croatia too.
12. Bosnia-Herzegovina
Most commonly referred to as Bosnia, sees many of its people move abroad in search of better paying jobs and a better standard of living.This has helped to make Bosnia one of the cheapest places to live!
Rent in Bosnia is one of the cheapest in the world. It is easy to get a modest, yet large place in Bosnia for 484 KM ($280) per month, with many places going for as little as $150 per month in some areas!
House prices are also some of the lowest, not just in Europe but also the world. It is also very easy to get a large place outside of Sarajevo for less than $40,000, with many in the countryside going for much less!
Food in Bosnia is both cheaper and more expensive than it is in the West. Beverages such as water, beer and wine is much cheaper than it is in the West. However, most food items are more expensive in Bosnia than the West.
11. Hungary
Hungary is often seen as one of the cheapest countries to live and work in on the entire planet! Hungary is not only cheap, but also warm almost all year round too!
Rent is more expensive in Hungary than most other countries on this list. For a modestly sized apartment in Budapest, you can expect to pay around 125,000 Ft ($400) per month.
House prices in Hungary are all over the place. If you want to buy a property in the city, you’ll have to fork over $50,000. However, if you want to live in the countryside, you can buy a house for as little as $5,000!
Food is also slightly more expensive in Hungary than it is in most other countries. If you are eating in, you can expect to pay around 147810 Ft ($470). However, if you are eating out, you will pay around $550.
10. South Africa
South Africa is one of the cheapest countries in the world to live in. During the summer, South Africa is often 32 degrees Celsius (90 degrees Fahrenheit) and 17 degrees Celsius (63 degrees Fahrenheit).
Rent for a modestly sized apartment can cost roughly $375 (R 6,300) per month. The average house in South Africa costs costs roughly $44,750 (R 750,000) in total or $190 (R 3250) per month as a mortgage payment.
Other living expenses in South Africa will set you back roughly $1,1000 (R 18160) per month. However, this is assuming that you are living a “modest” lifestyle. In recent years, many entrepreneurs have moved to South Africa.
However, if you are white (especially white European) you will need to be extra vigilant about where you live and go. Apartheid may have ended, but there is still a great deal of racial tension in South Africa.
9. Czechia
Otherwise known as the Czech Republic, is one of the cheapest countries in both Europe and the world to live in. During the summer, Czechia can reach highs of 27 degrees Celsius (80 degrees Fahrenheit) and in the winter -5 degrees Celsius (10 degrees Fahrenheit).
Rent is also much cheaper than it is in other parts of Europe, averaging at 12,000 CZK ($450) per month. House prices in Czechia are notoriously low- the average house price in Czechia is 800,000 ($30,000).
Food is also extremely cheap in Czechia, regardless of whether or not you eat out or at home. If you’re predominantly eating at home, you are looking at 4,000 CZK ($150), if eating out, it is roughly 8,000 CZK ($300).
Assuming that you have chosen to live a fairly modest life, you can expect to pay roughly 13,000 CZK ($500) per month on other living expenses. Both imported and locally made goods are very cheap as well.
8. Cyprus
Cyprus was once a British colony, with many former colonial Brits, as well as many non-colonial Brits now calling Cyprus home. Thanks to being English speaking (as well as cheap!) Cyprus is home to many Brits, Americans, Aussies and Kiwis.
Rent in Cyrpus is one of the more expensive on this list, although is cheaper than in some places in the west. You can expect to pay around €1000 ($1100) per month in rent for a modest apartment in a nice area.
Buying a house is also fairly cheap in Cyprus too. You can quite easily find a nice apartment in the city for around $50,000 or you can go a bit more luxurious and buy a house outside the city for $100,000.
Food is similarly more expensive in Cyprus than it is in most other countries on this list. The average price for a month’s worth of food is €900, however, many people eat for far less than that.
7. Belize
Belize is very similar to Cyprus. Belize was once a British colony, therefore, many in the country do speak English as their first language. As such, many Brits, Americans, Aussies and Kiwis have made Belize their home!
Rent in Belize is probably the most expensive on this list, with it being around $1100 BZ ($550 USD) per month, Buying a home is also fairly expensive, with homes costing on average $151000 BZ ($75,000 USD).
Food is similarly more “expensive” than most other countries on this list. Although, it is cheaper than in most other countries in the Western Hemisphere. Monthly food bills can come to $600 BZ ($300 USD).
Other expenses can come to around $600 BZ ($300 USD), however, this assumes that you and your partner/spouse have chosen to live a relatively modest lifestyle.
6. Bulgaria
Bulgaria is known for being one of the cheapest and most frequently visited vacation destinations. However, it is also one of the cheapest countries on the planet to live and work in!
In Bulgaria, rent is extremely cheap- being one of the cheapest in Europe and the world. For a nice, comfortable, yet modest apartment or house in and around Sofia, you could expect to pay around 645 лв ($370) per month.
House prices in Bulgaria are also extremely cheap. If you want a nice apartment in Sofia, you’ll have to pay around $50,000. However, if you don’t mind living in the outskirts, you can pay as little as $2,000!
Food is similarly cheap in Bulgaria too. If you eat in and cook your own food, you can expect to pay around $410 per month, with it only being marginally more if you decide to eat out most of the time.
5. Romania
Romania is one of the cheapest countries in Europe to live in! During the summer, Romania sees temperatures of 35 degrees Celsius (95 degrees Fahrenheit) and 3 degrees Celsius (37 degrees Fahrenheit).
Rent in Romania is extremely cheap, even if you want one of the most luxurious apartments or houses. The most expensive rent in Romania is roughly $400, often less. You can buy a modest house for less than $40,000.
Food is Romania is still fairly cheap, although has seen a spike in recent years. For a couple, or a couple with a small child, your monthly food bill is likely to be 1,285 lei ($300).
For other living expenses, you could quite easily end up paying in lieu of 1710/2140 lei ($400/$500) per month living a modest lifestyle, if not slightly less!
4. Poland
Poland is renowned for being one of the cheapest countries on the planet, mostly because of the dwindling population moving abroad for a better standard of living. Their loss is your gain!
Rent is extremely cheap in Poland, being one of the cheapest on this list. For a modest apartment in Krakow, you can expect to pay 1,500 zł ($380). However, many more luxurious apartments are only a little bit more.
House prices are similarly cheap with you being able to get a modest sized house or apartment in and around Krakow for 197500 zł ($50,000) although you can similarly get a more luxurious apartment for only a little more.
Food is also fairly cheap, with a monthly food bill being 790 zł ($200) per month (assuming that you’re eating in most of the time). However, eating out will only cost you a little but more – around 1,000 ($250) per month.
3. Vietnam
When it comes to some of the cheapest countries to live in, Vietnam is the Gold Standard (although you shouldn’t invest in gold there because it is very expensive).
Rent is extremely cheap in Vietnam. A modestly sized apartment or villa could set you back 3,477,150 VND ($150) per month. Buying a house is also quite cheap, setting you back 1,100,000,000 VND ($45,000) if not less!
Food is also extremely cheap too, if you’re buying and cooking your own food, you can easily do this on only 1,159,050 VND ($50) per month. If you’re eating out at the local street sellers, it is roughly 1,738,575 VND ($75).
Assuming that you’re living below your means, you could quite easily (and happily) live for only 3,824,865 VND ($165) per month. If you want to live a bit more extravagantly, you could live for perhaps $200 very comfortably.
2. Nepal
Nepal is often cited as being one of the cheapest countries in the world to live and work in. Located in between India and China, Nepal has both Indian and Chinese cuisines, laws and traditions (as well as people!)
If you are planning on renting in Nepal, it is extremely cheap. a mostly sized apartment in the capital will set you back around Rs 24,000 ($200) per month, although you could buy a larger apartment for only a little bit more.
Buying a home in Nepal is also extremely cheap too, costing anywhere from Rs 600500 ($5,000) to Rs 3002100 ($25,000) for a modest or luxurious apartment in a fairly good neighborhood.
Food is also extremely cheap, regardless of whether you are eating out or not. If you are eating in, you can expect to pay around Rs 26400 ($210), but if you are eating out, you can expect to pay marginally more.
1. Saudi Arabia
If you don’t mind temperatures upwards of 45 degrees Celsius (113 Fahrenheit) in the summer, Saudi Arabia might be the place for your to retire to!
Rent in Saudi Arabia is much cheaper than it is in the West. Rent in Saudi Arabia is roughly 70% cheaper. The average house price per square meter is $100, or $42 per square inch to buy.
Food is Saudi Arabia is almost 50% cheaper than it is in the West. For a couple, food in Saudi Arabia costs roughly $200 on average per month. However, eating out regularly will increase that.
Other goods and services are similarly cheaper than they are in the West. Locally-made goods in Saudi Arabia are roughly 50% cheaper than their Western counterparts are. Imported goods are similarly cheap, just not at the 50% rate.
Which are the cheapest countries you’d like to live in? Tell me in the comments!
