Cheapest Asian Countries to Live In in 2022

Cheapest Asian Countries to Live In in 2022

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Introduction

Do you have plans of moving and are looking for the cheapest Asian countries to live in? In this article, we will discuss the average expenses you need to prepare for per month depending on which location you end up choosing to reside in.

Living costs are frequently a top consideration when choosing a place to live. It goes without saying that there are other factors to take into account, particularly if you are going overseas. So you need to look into your way of life, your culture, your surroundings, your work options, and the activities you may do for fun.

Cheapest Asian Countries to Live In: Indonesia

Indonesia is home to beautiful volcanoes, verdant forests, immaculate beaches, and magnificent temples. There are few locations better if you’re an expat, a digital nomad, or a retiree looking for a new location to live in than this lovely island nation.

While the cost of living will vary depending on which island you choose to call home, Indonesia is a very reasonable place to live in. For instance, costs are typically higher in Bali and Jakarta. On the other hand, settling in on an island such as Java is less expensive.

Cost of Living in Indonesia

Generally speaking, living in Indonesia would cost less than living in the US. For comparison, global cost of living data aggregator Numbeo estimated that you must have about 34.3 million rupiah ($2,269.7) in Indonesian capital Jakarta (as of the time of writing) so as to maintain the same standard of life that you can have with $6,900 in US capital Washington, DC. These figures assume that you are renting in both cities.

Asset management firm Mercer also listed Jarkarta as the 151st most expensive city in the world for expats in its 2022 Cost of Living City Ranking. That’s way below New York which took the 7th spot, as well as Hong Kong which ranked first.

In terms of real estate, the cost per square meter for buying an apartment within Indonesia’s city center is at 24.7 million rupiah, while that outside of the area is at about 12.5 million rupiah.

Rent for one-bedroom apartments inside and outside Indonesia’s city center cost roughly 4.1 million rupiah ($271.3) and 2.5 million rupiah on average per month, respectively. For comparison, monthly average rent prices for one-bedroom apartments inside the US’ city center costs over six-fold more at about $1,678 while that outside of the area costs $1,356.5.        

A meal at an inexpensive restaurant in Indonesia is estimated to cost 25,000 rupiah, while a mid-range restaurant can charge 250,000 rupiah for a three-course meal for two.

The overall cost of living in the country for a family of four can reach an estimated average of about 22.3 million rupiah per month, while a single person can live off roughly 6.4 million rupiah a month, both excluding rent. 

Cheapest Asian Countries to Live In indonesia
Bali pagoda in Indonesia. Image by jcomp on Freepik

Cheapest Asian Countries to Live In: Thailand

With its stunning beaches, breathtaking natural landscapes, delectable cuisines, historical sites, vibrant culture, and outstanding affordability, Thailand is unquestionably one of the most well-liked destinations for expats. Thailand, also referred to as the Land of Smiles, offers a wide range of choices and prospects for everyone.

Cost of Living in Thailand

A meal at an inexpensive restaurant in Thailand is estimated to cost 70 baht ($1.87) (as of the time of writing), while a mid-range restaurant can charge 800 baht for a three-course meal for two, according to Numbeo.

Renting a one-bedroom apartment within Thailand’s city center costs 13,479.7 baht per month and 7,297 baht outside that area. The costs for buying apartment within and outside the city center can reach 111,980 baht and roughly 60,691 baht per square meter, respectively.

The overall cost of living in the country for a family of four can reach an estimated average of 65,170 baht per month, while a single person can live off about 18,086 baht a month, both excluding rent.

Cheapest Asian Countries to Live In: Vietnam

Vietnam is your ideal place to live if you want to enjoy great food, beautiful scenery, hospitable natives, and a very inexpensive cost of living.

Vietnam is well-known for its cuisine, which is unrivaled in terms of both price and quality. The country is simple to tour as well, with affordable transportation allowing you to travel the entire nation without any difficulty.

Halong Bay, My Son, Nha Trang, and Phu Quoc Island are some of the top destinations to enjoy while you’re settled in this location.

Cost of Living in Vietnam

A meal at an inexpensive restaurant in Vietnam is estimated to cost 50,000 dong ($2.11) (as of the time of writing), while a mid-range restaurant can charge 500,000 dong for a three-course meal for two, according to Numbeo.

Renting a one-bedroom apartment within Vietnam’s city center costs 8.6 million dong per month and 5.7 million dong outside that area. The costs for buying apartment within and outside the city center can reach 65.9 million dong and 33.1 million dong per square meter, respectively.

The overall cost of living in the country for a family of four can reach an estimated average of 37.8 million dong per month, while a single person can live off 10.6 million dong a month, both excluding rent.

Cheapest Asian Countries to Live In: India

India is a large, diversified nation with a lot to see and experience. You can choose to reside in one of India’s many large cities. You can also enjoy many of the country’s historical sites and natural wonders, like the famed Taj Mahal, the respected Ganges River, and the unspoiled beaches of Goa while you’re there.

Cost of Living in India

A meal at an inexpensive restaurant in India is estimated to cost 200 rupees, or $2.46, (as of the time of writing), while a mid-range restaurant can charge 1,000 rupees for a three-course meal for two, according to Numbeo.

Renting a one-bedroom apartment within India’s city center costs 14,981.5 rupees per month and 9,581.5 rupees outside that area. The costs for buying apartment within and outside the city center can reach 110,615.6 rupees and 55,541.5 rupees per square meter, respectively.

The overall cost of living in the country for a family of four can reach an estimated average of about 89,135 rupees per month, while a single person can live off 25,254 a month, both excluding rent.

Cheapest Asian Countries to Live In: The Philippines

The Philippines, an archipelago of more than 7,000 islands, is the ideal spot to call home if you love relaxing on pristine white sand beaches, going island hopping, and eating delectable fruits. Some of the friendliest people in the world reside in this stunning island nation, where they will make you feel at ease.

Cost of Living in The Philippines

A meal at an inexpensive restaurant in the Philippines is estimated to cost 200 pesos, or $3.4, (as of the time of writing), while a mid-range restaurant can charge 1,200 pesos for a three-course meal for two, according to Numbeo.

Renting a one-bedroom apartment within the Philippines’ city center costs 19,030 pesos per month and about 10,067 pesos outside that area. The costs for buying apartment within and outside the city center can reach 125,875.4 pesos and 68,693 pesos per square meter, respectively.

The overall cost of living in the country for a family of four can reach an estimated average of 93,070 pesos per month, while a single person can live off 26,977 pesos a month, both excluding rent.

Cheapest Asian Countries to Live In philippines
Manila, Philippines. Image by wirestock on Freepik

Cheapest Asian Countries to Live In: Cambodia

Thriving cities, lovely beach locations, and scrumptious food may all be found in Cambodia. Whether it’s touring Angkor Wat, the largest temple in the world, or learning about the nation’s complex and violent history, there is a lot to discover and do when you settle in the country. Living costs are also relatively reasonable here.

Cost of Living in Cambodia

A meal at an inexpensive restaurant in Cambodia is estimated to cost $3 (as of the time of writing), while a mid-range restaurant can charge $21 for a three-course meal for two, according to Numbeo.

Renting a one-bedroom apartment within Cambodia’s city center costs $436.8 per month and $246.5 outside that area. The costs for buying apartment within and outside the city center can reach $2,337.8 and $1,217 per square meter, respectively.

The overall cost of living in the country for a family of four can reach an estimated average of $2,056 per month, while a single person can live off $579.7 a month, both excluding rent.

Cheapest Asian Countries to Live In: Malaysia

Malaysia is one of Asia’s most industrialized nations. It is a fantastic country to live in and travel throughout, with gorgeous beaches, vast national parks, and contemporary cities with all the conveniences you could possibly need.

Cost of Living in Malaysia

A meal at an inexpensive restaurant in Malaysia is estimated to cost 10 ringgit, or $2.17, (as of the time of writing), while a mid-range restaurant can charge 80 ringgit for a three-course meal for two, according to Numbeo.

Renting a one-bedroom apartment within Malaysia’s city center costs 1,597 ringgit per month and 1,058 ringgit outside that area. The costs for buying apartment within and outside the city center can reach 8,101 ringgit and 4,637.7 ringgit per square meter, respectively.

The overall cost of living in the country for a family of four can reach an estimated average of about 7,096 ringgit per month, while a single person can live off roughly 1,985 ringgit a month, both excluding rent.

Cheapest Asian Countries to Live In: China

China is one of the biggest and most varied nations in the world. People come from all over the world to see China’s historic wonders, including the Great Wall and the Terracotta Warriors.

If you choose to settle in this country, you can enjoy its contemporary attractions as well, such as the Shanghai Bund and the Chengdu Research Base of Giant Panda Breeding.

Cost of Living in China

A meal at an inexpensive restaurant in China is estimated to cost 28 yuan, or $3.90, (as of the time of writing), while a mid-range restaurant can charge 200 yuan for a three-course meal for two, according to Numbeo.

Renting a one-bedroom apartment within China’s city center costs 4,751.7 yuan per month and 2,790 yuan outside that area. The costs for buying apartment within and outside the city center can reach 70,838 yuan and 39,616 yuan per square meter, respectively.

The overall cost of living in the country for a family of four can reach an estimated average of 13,913 yuan per month, while a single person can live off 3,782 yuan a month, both excluding rent.

Cheapest Asian Countries to Live In: Bangladesh

Bangladesh shouldn’t be disregarded even though it may not be on most lists of the best places to live in Asia.

The country will definitely astonish you with affordable costs plus some amazing outlying locations as well as well-known tourist hotspots like the Sundarbans, the largest mangrove forest in the world, and Cox’s Bazar, the longest uninterrupted stretch of sand coastline.

Cost of Living in Bangladesh

A meal at an inexpensive restaurant in Bangladesh is estimated to cost 170 taka, or $1.69, (as of the time of writing), while a mid-range restaurant can charge 1,000 taka for a three-course meal for two, according to Numbeo.

Renting a one-bedroom apartment within Bangladesh’s city center costs 10,686 taka per month and about 6,605 taka outside that area. The costs for buying apartment within and outside the city center can reach 82,489 taka and 44,740 taka per square meter, respectively.

The overall cost of living in the country for a family of four can reach an estimated average of 121,177 taka per month, while a single person can live off 34,567 taka a month, both excluding rent.

Cheapest Asian Countries to Live In bangladesh
Bangladesh. ©Pixabay

Cheapest Asian Countries to Live In: Nepal

Another gorgeous location that is also quite affordable to live in is Nepal.

The vibrant culture, lush jungles, and majestic Himalaya Mountains of this nation have much to offer. If you love to travel with a little of adventure and are curious about other cultures, you will appreciate settling in Nepal.

Another remarkable characteristic of this country is that the people of Nepal are regarded as some of the kindest and friendliest in the entire world.

Cost of Living in Nepal

A meal at an inexpensive restaurant in Nepal is estimated to cost 250 rupees, or $1.92, (as of the time of writing), while a mid-range restaurant can charge 2,000 rupees for a three-course meal for two, according to Numbeo.

Renting a one-bedroom apartment within Nepal’s city center costs about 15,482 rupees per month and 10,635 rupees outside that area. The costs for buying apartment within and outside the city center can reach roughly 219,434 rupees and 91,022 rupees per square meter, respectively.

The overall cost of living in the country for a family of four can reach an estimated average of 145,200 rupees per month, while a single person can live off 40,585 rupees a month, both excluding rent.

Cheapest Asian Countries to Live In: The Bottomline

Do keep in mind that cheap can mean different things to different people, so before looking for a country where the cost of living and level of living are roughly matched, you should first identify your budget. Furthermore, if you spend a great deal of money on shopping, eating out, drinking, and treating yourself, any of these expenses could skyrocket. Therefore, while projecting how much it will cost to live abroad, remember to constantly take into consideration your lifestyle behaviors.

Are you into investments? If so, you can read our articles such as best investment options for Australian expats in 2021, what are the best investment options for Canadian expats in 2021, what are the best investment options for UK expats in 2022, and how to invest in the S&P 500 from outside America.

We also have reviews of Investors Trust Access Portfolio, Novia Global, Dominion Capital Strategies Guernsey, Custodian Life, St James Place fund, Tilney BestInvest, Sarwa Dubai, HSBC Expat, Ardan International, and Investors Trust S&P 500 Review.

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Adam is an internationally recognised author on financial matters, with over 493.6 million answers views on Quora.com and a widely sold book on Amazon

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