Philippine Real Estate Investment and Retirement Haven
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by Land Asia Listings
- September 30, 2016
- Blog
- 0
The Philippines offers a significantly lower cost of living. The Philippine Peso exchange rate is approximately 48 to $ 1.00 or 70 to 1 Pound [Sterling (GBP)]. Housing, food, and labor costs are quite reasonable. A One bedroom condominium can be purchased for around $ 100,000 or GBP 55,000 or a Studio for only $ 60,000 or GBP 35,000 and one can dine out on average at a three star restaurant for less than 500 pesos. A private driver’s salary is approximately 15,000/month, while trained housekeepers earn approximately 8,000/month. These salaries are lower if you live in the provinces.
Cable Television, Hi-Speed Internet and Satellite Communications are cheap. One can hire an air-conditioned taxicab for eight hours for less than $30.00. In a country where a provincial Governor’s salary is only about 35,000 pesos per month, and a Presidential Cabinet Under-Secretary earns something like 45,000, your pension can go a long way. So, if you have a retirement income in the region of $1,500 to $2,000 per month (70,000 to 90,000 pesos) you can live quite well in the Philippines.
