Internationalliving.com is out with a list of beautiful and cheap (cheaply beautiful?) locales for retirees to consider.
It’s particularly relevant, as recent studies find two-bedroom apartments remain out of reach for many renters in the States.
While theater and fine dining might not be a thing, they’re perfect for those who appreciate the simpler pleasures in life. Here are just a few of the places for ex-workers to become ex-pats.
Penang, Malaysia
As one of the easiest places in Asia to retire to, more and more retirees are moving to the island of Penang, Malaysia—where English is widely spoken. The attractive Malaysia My Second Home (MM2H) visa program allows foreigners to live in Malaysia for up to 10 years, and is one of the most flexible visa programs in Southeast Asia.
Many expats find their homes on the island’s north side, where the housing options are abundant in the coastal towns, as most expats want to live near the water. In Batu Ferringhi, rentals are a bargain.
“If you’re looking for an unfurnished condo in Batu Ferringhi, Miami Green has a 1,087-square-foot apartment with a balcony,” says an International Living Southeast Asia correspondent, Kirsten Raccuia. “At $310 a month, it’s a steal.”
Medellín, Colombia
Whether you are looking for a sophisticated and modern urban scene, or a sleepy Caribbean beachside town, Colombia has so much to offer ex-pats, with many taking advantage of the inexpensive properties and a colorful and rich culture.
Once an economist for the State of Iowa, Joseph Hogue was attracted by the many charms of Medellín—Colombia’s second-largest city, in the middle of the Andes Mountains. He lives in the Floresta section of Estadio, a quiet upper-middle class neighborhood where his cost of living is much lower than back in the U.S.
“My rent for a huge three-bedroom, four-bathroom, 1,235-square-foot apartment is only $300 per month,” he says. “And all utilities: electric, gas, water, cable, internet, and home phone come to only $90 per month.”
Sihanoukville, Cambodia
With 10 white-sand beaches and a wide variety of undeveloped coastline nearby, the Cambodian city of Sihanoukville is a popular destination with expats.
On top of the beautiful surroundings, fresh ocean breezes, and a tropical climate, Sihanoukville also has one of the most affordable costs of living for any beach destination in Asia.
“What I really dig about my life now is that I am no longer stuck in a crowded and expensive city,” says Texas native Roger Carter of his new life in the coastal resort city. “I can enjoy retirement hanging out at the beach, with all the worries of overpriced healthcare far behind me.”
Roger lives in a large, two-bedroom apartment that costs $350 a month.
Cuenca, Ecuador
If you’re looking for a rich cultural life that blends the historic and the modern, Cuenca—Ecuador’s third-largest city and the economic center of the southern sierra—is just the spot.
As one of Ecuador’s five UNESCO World Heritage Sites, the city has long been known for a rich intellectual, artistic and philosophical tradition that matches its colonial architecture.
Plus, Cuenca’s temperate climate is a major draw for a healthy lifestyle—the excellent weather means local fresh fruits and vegetables are available year-round.
Figueira da Foz, Portugal
Ninety minutes south of Porto and 25 miles east of Coimbra lies the coastal city of Figueira da Foz. Here you’ll find several beaches and one of the largest casinos on the Iberian Peninsula. It’s also where the River Mondego meets the Atlantic Ocean.
In Figueira there are parks, palaces, a municipal museum and Europe’s widest urban stretch of sand, earning it the nickname the “Queen of Beaches.”
The city has a solid ex-pat community where everyone benefits from the fine Mediterranean climate of mild rainy winters and warm dry summers.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
