Vietnam is a very affordable place to retire, especially for adventurous retirees who appreciate the country’s beaches, scenery, food, history and weather particularly in the Central Provinces and in the South. After reading the Travel & Leisure Magazine article and doing our own research we are publishing the accompanying article. Must See In Vietnam Editor
Vietnam is a very affordable place to retire, especially for adventurous retirees who appreciate the country’s beaches, scenery, food, history, and culture, said a recent article on the website of US based Travel+Leisure magazine.
The author assessed that overall cost of living in Vietnam is about 49% lower than in the US, and rents are about 75% lower, depending on the location.
In Ho Chi Minh City, home to the largest expat community in the Southeast Asian nation according to International Living magazine, the cost is 62% lower than in New York, and housing is about 83% lower.
Per the article, high-quality health care is also very affordable, with both public and private systems. Most expats carry international health insurance and take advantage of private hospitals.
Vietnam is among the eight countries recommended by the author, as they offer retirees an opportunity to enjoy a comfortable lifestyle and lower cost of living. The remaining nations in the list include Panama, Mexico, Ecuador, and Costa Rica./.
Cost of Living in Vietnam
Vietnam is an inexpensive country to live in. Most items cost less than half of what you would pay in the West, and anywhere from 5% to 25% less than what they would cost in many other Southeast Asian countries.
Vietnam’s most expensive city is Ho Chi Minh City, followed by Hanoi. Even in these two places, a couple can enjoy a comfortable, middle-class lifestyle for less than $1,300 per month. Many Westerners who live in Hanoi and Ho Chi Minh City get by spending around $500 per month, but it’s a no-frills lifestyle. A monthly budget of around $4,000 provides for top-end luxury, including a large, furnished home with a view of a lake or park, eating at 5-star restaurants, and taking frequent cruises and sightseeing trips throughout Vietnam.
If you live outside of Vietnam’s two largest cities, in places like Da Nang, Hoi An, Nha Trang, and Vung Tau, prices will be much less. In any of these destinations, a budget of around $800 to $1,100 per month will provide a lovely house or apartment, all utilities, housekeeping, groceries, dining out every day if you choose, and even the occasional massage. In all of these towns, you can find a place to live just a short walk from the beach, or even a home with an ocean view. If you can manage a budget of $3,500 to $4,500 per month, you can rent a modern villa with a private pool and live like royalty while eating and drinking at the best restaurants in town.
Of course, your lifestyle will determine how much you really need to spend. Western restaurants and imported food stores are easily found throughout Vietnam, but go to them often and you’ll be adding considerable expenses to your budget. If you are willing to buy locally produced groceries and household goods, eat and drink at restaurants where the locals go, and live a relatively simple lifestyle, you can reduce your monthly budget by at least 25%. Two people can enjoy a full local-style meal of rice or noodles, meat, vegetables, and a couple of draft beers for less than $5. For comparison, ordering one deluxe hamburger, fries, and a bottle of imported beer at a Western-style restaurant will cost between $8 and $11.
A cleaning lady will cost $2 or $3 an hour, and a full-time, live-in maid will charge around $125 per month. A pre-paid cell phone plan with unlimited data is about $3 per month, high-speed fiber-optic internet is around $11 per month, and cable TV is just $7 per month. If you are living in an area where you’ll need to use either an air conditioner or a heater some of the time, your electric bill will run between $75 and $100 per month for a two-bedroom house or apartment.
Medications that would require a doctor’s visit and a prescription in the West can be purchased over the counter in Vietnam at a small fraction of the price.
Here is a sample monthly budget for two people living a middle-class lifestyle in Hanoi or Ho Chi Minh City
If you lived in Da Nang, Hoi An, Nha Trang, or Vung Tau, your monthly budget would be about 10% to 20% less than this.
If you are living in Vietnam, you’ll also need to factor in the cost of trips abroad—a legal requirement that occurs every three to 12 months, depending on the type of visa you have. Visa runs can be quite inexpensive; a round-trip ticket from Ho Chi Minh City to Bangkok, for example, costs around $100.
The following site is interesting and is quite up to date with the prices of the items you will pay either at the restaurant and at the market : https://www.numbeo.com/cost-of-living/country_result.jsp?country=Vietnam – There is a way to pay less if you speak Vietnamese and shop in public markets! Must See In Vietnam Editor.
* Sources : EVnExpress.com & InternationalLiving.com
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