Cost of living in the Philippines for retiring expats

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Cost of living in the Philippines for retiring expats

The Philippines is one of the top retirement destination for many retiring expats. Thousands of American retirees chose to retire to this country due to various reasons. One of these is the affordable cost of living that the Philippines have.

 According to the Cost of Living Index, the Philippines ranks out of 138 countries included as the 54th most affordable country to live in. The same list also revealed that the US occupies the 112th spot, with its cost of living estimated to be around 71.92. These figures show that it is about 2.6 times more expensive to live in the  US than in the Philippines.

How much does living in the Philippines Cost?

Based on the report from International Living, an individual can live comfortably live in the Philippines with a monthly budget of $800 to $1200. The said budget is enough to cover housing, food utilities, taxes, and healthcare. So, an expat living with $100,000 can live a comfortable life in the Philippines for about 10 years on an $800 monthly budget and around seven years on a $1,200 monthly budget.

Monthly housing cost

The monthly housing payment in the Philippines depends on where and what kind of space a retiree wishes to live. Typically, it would cost around $228.94 to live in a one-bedroom apartment in the city and about $124.77 outside the city.

Renting a three-bedroom property in the city comes with an average monthly cost of about $394.53 and $240.59 outside the city. But since foreigners are only allowed to own properties but not lands in the Philippines, most retirees are either into renting houses or buying condominiums.

 Monthly food cost

The cost of food in the Philippines is also low when viewed according to the US standard. A retiring expat can conveniently walk into an inexpensive restaurant, order a simple meal, and pay around $3.10. Opting for a mid-range restaurant and ordering a three-course meal for two could cost up to $21.00. Finally, ordering a combo meal from McDonald’s could cost around $3.10.

Vehicle Purchase cost

Buying a brand-new and modern car in the Philippines is quite expensive. Due to this, retirees should import their vehicles to the Philippines. They only need to look for a reliable international moving company like SDC, specializing in International Car Shipping and International Vehicle Shipping for this.

Perks of retired ex-pats in the Philippines

Ex-pats who decide to retire in the Philippines are guaranteed to enjoy the following perks.

  • Non-expiring retiree visa
  • A dedicated government agency that handles all retired ex-pat needs
  • Airport travel taxes exemption
  • Tax-free imports of household goods amounting to $7,000 and below
  • Welcoming surrounding
  • Foreigner-friendly culture

Moving to the Philippines from USA

As a retiree, Moving to the Philippines from USA can be accomplished in a breeze. The country has pretty straightforward rules in accepting retirees, and expats usually get VIP treatments. Also, they are allowed to move their personal belongings, vehicles, and furniture inside the country. They can conveniently do this by hiring the service of SDC International Shipping, a reliable international moving company that helped thousands of expats relocate to the Philippines.

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By Kfir Cohen

Kfir Cohen is handling global operations, cargo shipping, negotiation, and management of different suppliers around the world. He has more than 15 years of experience in the avant-garde of relocation and the sea/air freight business.
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