The cost of retiring in the Philippines

[ASEAN NOW News]

Money will be the biggest factor when you’re choosing where to live.

 

Today US$1 will get you 54PHP.

 

International Living reports that you could comfortably live on US$800 to US$1200 a month, covering housing, utilities, food, healthcare, and taxes

 

This is just a snapshot, as it will depend on your location and living standards of course.

 

While housing is typically your highest expense, you’ll need to consider other costs such as:

·         Apartment deposits and agency fees.

·         Moving and shipping costs.

·         Flights to the Philippines.

·         Daily expenses.

·         Visa fees.

 

As an example, prices of basic products in the Philippines are generally lower than in other countries.

 

You would expect to pay 1.96 times less for shopping in the Philippines than in the United States.

 

Food prices in supermarkets are lower than in Europe and the United States. For example, in the Philippines you have to pay for:

1.     Bottle or carton of milk (1 liter): (89 PHP)

2.     Popular yellow cheese (1 kg): (339 PHP)

3.     A bottle of beer from a known brand: (96 PHP)

4.     A sausage or cold cuts (1 kg): (780 PHP)

5.     A mid-range wine (one bottle): (361 PHP)

 

 

If you fancy eating out, then you can choose a meal from many different types of cuisine. For example, a meal for two people, in a restaurant:

1.     Asian Restaurant (1,200 PHP)

2.     Chinese Restaurant (1,100 PHP)

3.     French Restaurant (1,500 PHP)

4.     Italian Restaurant (1,300 PHP)

5.     Japanese Restaurant (1,200 PHP)

6.     Mexican Restaurant (1,100 PHP)

 

If you are into your Burger King or McDonald expect to fork out 150 PHP for a similar combo meal

For coffee lovers: cappuccino coffee 132 PHP and espresso 92 PHP.

Taxis

 

If you like getting around in comfort, you’ll be pleased to know that Filipino taxis are relatively cheap.

Manila Taxi fares start at the base charge of PHP ₱ 40 and PHP ₱ 11.67 for every subsequent Km while the traffic wait time is PHP ₱ 145.00 per hour or PHP ₱ 2.42 for every 60 seconds.

 

Taxi Prices in Cebu would be cheaper at PHP21.32 a mile (Normal Tariff) and

Taxi 1-hour Waiting (Normal Tariff) would be PHP126.

 

Meanwhile, the average price for renting a car in the Philippines (e.g., Volkswagen Golf or Toyota Corolla) would be around US$1,380 a month or PHP74,725.

 

Of course, by shopping around you will always be able to get some bargains for sure.

 

Try going online if you want to hire locally or want to find a cheaper alternative.

 

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